QuestBack Boston has recently authored a new white paper on Customer Feedback Management. I've posted the executive summary here and included a link to the white paper if you would like to read it in its entirety.Executive Summary
Executives intuitively understand the value of customer feedback and collect it for good reasons. They realize that customer perceptions have a strong impact on their business relationships. Customers can choose with whom they do business. If customers have perceptions that are less than positive, they will go elsewhere. So companies collect customer experience data across numerous touch points, including service events, general attitudes, and relationship data. The goal is to improve the overall customer experience by taking action in response to feedback.
Why, then, do so few companies make truly effective use of the feedback they gather? A 2003 Gartner Group study noted that 95% of all businesses collect some form of customer feedback but only 10% actually act on the feedback they collect. This is not surprising to many front-line managers tasked with putting feedback data to use. Fundamentally, most customer feedback data remains un-acted-upon because most companies lack an organized, systemic, and metrics-driven process for making use of the data. This white paper discusses why this occurs, why it matters, and what to do about it.
You can view the entire white paper here:
http://docs.google.com/fileview?id=0B0M0bj3iQjmjYTM2N2FhNjgtYTBiZi00MTVjLWIzNWEtM2ZiMWI4MjQxZTMy&hl=en
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