Thinking in Terms of AssetsJanuary 14, 2018
Credit Union Satisfaction Index (CUSI) 2017December 14, 2017
The rewards of collecting customer feedback far outweigh the risks. The more an organization knows about its customers, the more power it obtains to implement solutions and effectively deliver value.
2017 is now a memory. As you think about changes you want to make in 2018 to improve your organization, it’s likely incorporating customer sentiment collection is included in your planning. Collecting feedback is fraught with risks, but the results can give you the power to start a revolution in your organization.
Organizations across every vertical are keenly aware that knowledge is the power that enables you to launch your revolution.
One of the easiest ways to determine what matters most to those we serve is to simply ask them via methods such as focus groups or surveys. But organizations are often hesitant due to the risks associated with these methods.
Whether your customer is a patient, a citizen or a member, it’s likely you’re already collecting information on them. You know their spending habits, their financial portfolio and their propensity for illness. Is additional information really that valuable? And do you have the time and/or resources to do anything with additional customer data?
When I accepted my current role, I called my parents to share the exciting news. My adoring mother was excited but wondered out loud (as mothers sometimes do about their children’s choices) “do people really need another survey?”. Customers get bombarded with emails, texts and calls from organizations all vying for their attention and feedback. And often, companies survey after every interaction. Do your surveys feeling more like a punishment instead of an opportunity for organizational improvement? How do you engage without annoying or worse, pushing them away?
When asking customers for feedback, expectations that the organization will act on the results are automatic. If there is no demonstrable action taken as a result, customers may end up less satisfied than if you had never solicited their feedback in the first place. Your feedback efforts could unintentionally turn into an instrument of distrust.
However, with great risk comes great reward. While being mindful of the risks of soliciting feedback, the reward can be immeasurable.
A better grasp of the customer experience enables organizations to center product and service strategy on customer needs and facilitates a more effective competitive strategy.
Seeking customer feedback demonstrates that the organization cares about customers, and that there is a sincere interest in providing them with more value.
Customers are more likely to remain with a company that develops a connection and strives to deliver an exemplary experience with the brand.
A revolution is “a fundamental change in the way of thinking about or visualizing something: a change of paradigm.” Government, retailers, manufactures—and organizations across every vertical are keenly aware that knowledge is the power that enables you to launch your revolution. The more an organization knows about its customers, the more power it obtains to implement solutions and effectively deliver value.
The rewards of collecting customer feedback outweigh the risks. If you are thoughtful about the questions you ask, judicious with how often you ask, and resolute that you will act after you ask, then the rewards are many. You can even start a revolution.
CFI Group offers expertise in designing experience measurement solutions that provide action-oriented data reflecting the complete customer experience. Contact us for more information on how we can help you start a revolution in your organization.
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