How to Make Survey Results Come Alive in the Company?

Mastery of information management has become an essential ingredient in the creation of corporate value. Market research firms and their customers have fully understood the strategic implications ; they are increasingly exploiting survey results, and this will eventually transform business organization and operations.

For example; “In 2010, only 8% of firms regularly using customer satisfaction and loyalty measurement programs actually analyze the data with sophisticated statistical tools…and practically none of them convert the data into action plans, hence the need for follow-up initiatives,” states Michel Saulnier, researcher and president of the Quebec chapter of  the Marketing Research and Intelligence Association (MRIA). In fact these business managers risk missing out on strategic pointers with all the consequences that this might have for their markets.

Yves Masson, Senior Partner of the research firm Saine Marketing considers that “consumers today are much more critical in their shopping choices, consequently satisfaction indicators no longer enable firms to have a clear vision of the loyalty and engagement of their customers.”

Aware of this phenomenon, market research firms are looking to develop new approaches to managing survey results. The aim is to initiate implementation of continuous improvement processes at all operational levels of the firm, and to convert the results of satisfaction surveys into action plans. “Today, organizations are exposed to multichannel communications offering multiple points of contact with their customers; such as retail outlets, call centers, online purchasing sites, social media etc. They must develop a 360 degree vision of the client and incorporate the findings of these studies into their management systems,” believes Yves Masson.

Inclusion of an explicit process within the organization structure to effectively exploit the results of satisfaction surveys should be fundamental; not something left to chance or improvisation. “Awareness of the need for a certain management policy often only arises in a crisis, at a time when management realizes that it does not have the tools to deal with the situation,” Michel Saulnier points out. In this area, the National Bank is a pioneer. In 2007, the new president of the bank, Louis Vachon, introduced a new vision “One client, one bank” that was to transform the customer relationship approach to banking. “Customer expectations are constantly evolving and we must be able to adapt to their needs in real time,”says Dominik Giasson, Senior Director of Research at the National Bank. Four years ago, the National Bank implemented a measure of customer loyalty which is currently evolving. This includes an improved governance process and ensures that customer satisfaction is a priority throughout the entire organization.

To uphold promises made to customers, is governance the ultimate corporate tool?

Large organizations such as Hydro-Quebec are moving in the same direction, and are creating new management models which in the near future will be adopted by most companies. This is a trend which will be interesting to follow closely.

Posted by Marie-Eve St-Arnaud

Why monitor and analyze what is being said in the Social Media? (Part 1)

According to electronic media pundits, the main reason is fear of a serious public relations crisis generated by social media frenzy. Clearly, there are plenty of well publicized examples to support this thesis. Netflix, for example, having announced a price increase of 12% last July, was severely criticized on Web 2.0: their blog and Facebook page were inundated with negative comments (more than 81,000 on Facebook, an impressive number). Their Twitter account was assaulted by a host of furious clients. In brief, a textbook case for a Public Relations course.

This type of crisis is a nightmare for many corporate bosses since it can have serious repercussions. It is important, then, to be well equipped to be able to identify risks as quickly as possible, and to respond to them accordingly.

Let’s note, notwithstanding, that listening to what is being said in the social media about our brand is useful for many other reasons as well.

Firstly, clients who use these media to share their satisfaction with our products and services are of great value. These positive references are a superb sales tool; don’t miss the opportunity to use them in your communications (obtaining their authorization first, of course). Moreover, clients explain why they chose you, highlighting the principal features which, in their eyes, differentiate you from the competition. They also enable you to better identify the preferred client base that you should be aiming for. This is all prime data for your market positioning strategy.

Secondly, even in the absence of a crisis, clients who report problems are also important. As you surely know, several unhappy clients can have a tendency to keep quiet until the situation becomes untenable, at which point they decide to switch to a competing product or service. By dealing efficiently with these weaknesses, not only are you solving their difficulties and keeping them as clients, but you are identifying problems that need to be urgently dealt with to keep your other clients as well.

Lastly and not least, is the social return of your marketing campaigns. Not only can you measure the impact of your campaigns in the social media, but also the social contribution of your other campaigns as well. Today, your Web or email campaigns must now include elements to enable readers to “Share” or express their “Like” related to your communication. Good tools indicate not only how many times these elements have been used, but also by who and their type of influence.

As you can see, there are many advantages to monitoring dialogue in the social media, and here we have only addressed monitoring commentary about your own brand. Scanning tools and analysis of social media can do much more, but this will be the subject of our future article. In the meantime, please don’t hesitate to use the comments section to give us your opinions.

The Voxco Team