Customer Engagement - Reaching Point of Value (PoV) with your customers

The phase of customer relationship development where businesses most often fail, and where customer feedback can be enormously helpful is Customer Engagement - The time between purchase and receipt of value from the purchase by the customer.  Bruce Temkin in an insightful post at his blog: Customer Experience Matters documents the phenomenon and suggests that businesses pay much closer attention to post purchase customer interactions, with a view towards accelerating the time between Point of Purchase and Point of Value.   Click here for the article

Adding our input to Bruce's (Full disclosure - QuestBack and Customer Experience Matters have no relationship business or otherwise), Customer Feedback Management can add enormous value in this phase of the customer lifecycle by helping to:

• Identify customers who are not achieving value from a purchase
• Understand "root causes" for not achieving value
• Propagating information about non-value achieving customers to relevant "actors" in your business (Account Manager, Customer Support, Sales or Product Management, etc.)
• Monitor progress towards value achievement by customers over time (validating the actions your "actor" are taking or not taking)

As vendors of a Feedback Management platform designed to facilitate the propagation of customer feedback to relevant internal actors and the monitoring of actions taken on customer perceptions over time, we see how well designed customer feedback programs can help businesses ensure more of their customers reach Point of Value.  Of course, customers who reach PoV are more likely to be loyal, provide good word-of-mouth reference and stay customers longer than those who do not.  So, ROI from customer feedback in this relationship development activity is very high.

QuestBack has a defined process for supporting this kind of post purchase customer feedback.  If you Click Here you'll be brought to a QuestBack web page documenting the process (Graphic below if you don't want to visit).

As you can see, our perspective is that customer engagement is but one of several customer relationship lifecycle phases that should be monitored with feedback management.  By carefully doing so, a great many insights can be attained about how and why customers are attracted to you, how and why they purchase, engage and possibly leave over time.