News: Less than one third of UK firms make use of customer feedback to improve business
April 14, 2006 • Some 95 per cent of UK companies collect customer feedback, but less than a third actually make use of it to improve their business.
That's the main conclusion of a new study by SPSS. "Research undertaken at a recent SPSS conference revealed that nearly all organisations collect feedback from customers and employees," commented Adrian Carr, vice-president, EMEA sales at SPSS. "However, while it's encouraging to see high levels of investment in collecting customer feedback, neglecting to effectively communicate this data means the insight goes to waste."
The research also revealed that 84 per cent of companies don’t store and manage their data from a central location. "This indicates that many organisations are sitting on a goldmine of untapped information," added Carr.
The solution to this according to SPSS lies in Enterprise Feedback Management (EFM) which is designed to help companies fully engage with customers and prospects to adopt a more customer-centric approach.
EFM encourages companies to take a step-by-step approach which includes better customer interaction across all channels such as email, phone or in person (rather than a dedicated department). Furthermore, by using these pre-existing points of contact, the method remains cost-effective and reaches out to more people.
The EFM methodology goes on to maintain that by storing all customer insight in one central location, companies are able to act quickly on the results to improve processes. Through implementing company-wide technology, information can be translated into different business functions, leaving one consistent customer view accessible to all employees.
Source:
CMC - InsightExec 29-Mar-2006
http://www.insightexec.com/cgi-bin/item.cgi?id=132096&u=pnd&m=phnd
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