Listen. Learn. Act.
Practically every company asks for and collects customer feedback.
Yet, many customer feedback programs don’t fully exploit the full value of the customer journey to gain real insight because they either have an obsessive focus on a single metric, only focus on a specific interaction, or don’t effectively harness the power of unstructured data.
From our experience, successful voice of the customer programs:
Align to strategic business priorities
Seek to measure performance against several loyalty metrics — often tied to leading operational metrics
Integrate all listening and feedback posts for common themes
Set priorities by focusing on the “tall bars”
Effectively utilize verbatim analysis to effectively diagnose and allocate resources
Ensures that feedback is swiftly turned into action
Promotes employee accountability and empowerment
An effective Net Promoter Score (NPS) Program drives increased revenue and a customer-centric employee culture.
Many leading companies have adopted the NPS program as the cornerstone of their customer experience program. Kinship Consulting is a strong proponent of the NPS program having designed, developed, launched successful NPS programs for many industry leaders.
Fundamentally, NPS is powerful measure to gauge customer advocacy and ultimately business health.
NPS is driven on one simple question: How likely are you recommend this business to friend or colleague?
The power and impact from the NPS program comes from:
- Understanding where you stand with your customers and creating organizational customer alignment: The NPS metric gives great insight into where you stand with your customers and where you need to focus your attention. The simplicity of the metric allows it to be the shared customer experience metric across the organization for focus and comparison. But, the real value comes from understanding the “why”. Active verbatim and text analytics help to easily understand what’s driving NPS.
- Setting an active “detractor” management program: Being able to quickly get back to customers that may be at risk of defection is a quick operational benefit.
- Creating a culture of employee engagement through sharing and learning from customer feedback.
- Ensuring that customer feedback and suggestions are embedded into your account management or client relationships, product development, operational models, and end-to-end customer experiences
- Setting the right action plan and strategic investments.
- Building an overall change and governance process to drive a customer-centric culture.
Kinship Consulting can help you:
- Set up or enhance your current NPS program
- Design and execute your relationship or transactional NPS feedback surveys
- Provide deep analytics to deeply understand the key business issues affecting your customer relationship
- Guide your teams to develop the overall action program and governance process
Project Experience and Case Studies
Situation: A new integrated customer experience capability was required following the merger of two financial services leaders. For mortgage, home equity, and insurance divisions, project required alignment and migration to consistent methodologies, measurement scales, key performance metrics, and reporting infrastructures.
Action and Results: Rationalized number of surveys and changed survey scales; established the key customer Hoshin metrics for customer retention, experience, and relationship depth; built new verbatim code frame for problem incidence and handling.
Delivered over $1 million in annual savings by migrating over 95 surveys to a new global feedback enterprise partner.