Understand how your team is doing with free employee pulse resources from Wootric

RESPONDING TO COVID-19 

Everything has changed.  How are your people doing?

Understanding how your employees are feeling right now has never been more important, nor more difficult.

Let us help. 

Wootric is offering free employee pulse tools to help you stay connected to your teams. The program includes access to our CXInsight text analytics platform for 6 months.  

You have a couple of options:

Free employee pulse survey program  

We’ll get you a new Wootric survey project account to get started with simple link or email surveys to employees. This account includes a survey dashboard and the ability to forward feedback to an email address or Slack channel.

Employee Pulse eSAT Email Survey during Covid 19

Analyze existing employee survey results at scale. 

If you already have an employee survey program, Wootric will help you understand what employees are telling you. For the next six months, companies with more than 200 survey responses with comments are eligible for a free CXInsight account. HR teams can upload survey data for instant insight. Qualitative feedback comments will be autocategorized for theme and sentiment using our machine learning algorithm that is optimized for employee engagement feedback.

Reach out to us and we’ll get you started. Employee feedback text analytics example during Covid19 crisis

How to Send Employee Pulse Surveys

Step 1. Decide whether you want to ask about satisfaction or effort.

Asking about satisfaction. You will customize the classic two-step satisfaction (CSAT) survey  “How satisfied are you with _______?” and followup question. 

Example questions about effort:

      • How satisfied are you with the support you are receiving from [our company] during the crisis?
      • How satisfied are you with the resources you have to do your job at this time?
      • How satisfied are you with the communication updates you are getting from us?

Using the customizable followup question, gather employee comments:

Example follow up question for satisfied employees:  Thanks for letting us know. Please tell us how you are doing, and any concerns or suggestions you may have.

Example follow up question for unsatisfied employees: Sorry to hear this.  Please let us know any suggestions you have, and reach out to ____ directly if you need support. 

Asking about effort.  You will customize the standard two-step effort score survey (CES),  “How easy was it for you to __________?” and a followup question. 

Example questions about effort: 

      • How easy was it for you to work from home this week?
      • How easy was it for you to manage daily life this week?

Example follow up question for satisfied employees:
Thanks for letting us know. Please tell us how you are doing and any concerns or suggestions you may have.

Example follow up question for unsatisfied employees:
Sorry to hear this.  Please let us know your biggest challenges and any suggestions you have. We know this is hard. Please reach out to ____ directly if you have an urgent request.

Step 2: Think about how you will survey your employees.

Do you want to send a link to a survey or send an email survey?

If you want employee responses to be anonymous, send a link to a survey in an email, Slack, or other means.
If employees know their response is anonymous, they may be more likely to be honest. However, you won’t be able to reach out to individuals who express concern or offer good suggestions. Here is our help article about survey link setup

If you want to be able to respond to employees one-on-one, use Wootric email surveys. You will be able to see every individual’s survey responses and reach out to address concerns, right from the Wootric dashboard. However, advise your employees of this so they don’t share private information.

Note: Organizations with more than 200 survey responses with comments are eligible for free access to the CXInsight text analytics platform. Employee comments will be automatically categorized by topic and sentiment, giving you instant insight into what is most important to employees.

Step 3. Sign up and get started!
(Existing customers please reach out to us)SIGN UP

Deepen connections and retain your team

An employee pulse program will help you:

  • Learn how employees are feeling and uncover needs in real-time.
  • Prioritize ways you can help your team feel supported and productive during this challenging time.
  • Monitor sentiment over time.
  • Stay connected by sharing what you are hearing and how you are responding to requests and feedback.

We’re here to help you get the insights you need to understand and support your people. 

Learn how Wootric can help you measure and improve customer experience. Book a consultative demo today.

How to Retain Customers in a Time of Crisis: A CX To-Do List for SaaS Companies

Financial markets are sliding, a pandemic is spreading around the world, and every company is scrambling to respond to quickly changing circumstances. Planned investments that were intended to drive growth — like hiring, media spend and software purchases — are being reevaluated as business leaders are forced to triage what they need to do to weather the storm. We’re all in survival mode, but survival is about prioritizing what is most important.

And what is most important to a SaaS business at this moment?

It’s not toilet paper.

It’s our existing customers.

Now more than ever, customer experience is job #1. 

We think the SaaS businesses that focus on retaining customers and building loyalty are the ones that will survive and thrive in this uncertain climate. 

Of course, the question then becomes how do you retain customers and build loyalty?

Shift from a growth mindset to a retention mindset 

This may not hold true for every business we work with – Zoom, GrubHub, and the e-commerce toilet paper company Who Gives a Crap are having quite a moment. But most businesses are facing contraction because people don’t buy in a panic. Budgets are being trimmed everywhere, and customer success and renewal conversations must be deeply empathetic to this.

So, if a customer is achieving goals with your software, and you have other features and capabilities that will make them even more successful in 2020, then, by all means, paint a bold vision of an expanded partnership. But, if that isn’t the case, and they want to reduce or leave, don’t come across as tone-deaf. It’s likely that everyone in their company has been asked to find ways to trim spend.

That means that it’s even more important to know that your internal champion can confidently advocate for you – because you are delivering value. Step up your customer success initiatives. Make sure you and your clients are recording successes. And don’t be afraid to change the conversation from trying to get the customer to buy more, to showing him or her how the company can get more value from what they’ve already purchased.

Listen to your customers even more carefully – and respond

Even when you’re focusing on your existing customers, don’t make the mistake of thinking they’re the “same” customers – they’ve changed. We all have. Because our needs change in a downturn. Companies that are on the pulse of those changes by proactively listening are better poised to adapt, innovate, survive, and serve.  Make calls to key customers.  It’s even more important now than it usually is to listen and respond to concerns quickly. 

Take care of your people

Your employees, your teams, are the key to your customer relationships. They may be concerned about their health or the health of their parents, or grandparents. They may be struggling to find childcare options if their schools are shut down. They may be stressed about their 401K balance. Whatever it is, empathy and flexibility are going to be key – and so is prudent business planning. How can you plan to support your employees through these challenges?

Be a good citizen

For the collective good, and for the good of your brand, it’s so important right now to prioritize the good of the community and show conscientious, caring judgment. To do this, you may need to make some tough calls that hit your short-term profits, but protect people. We’re all making sacrifices – the New York Times dropped its paywall for coronavirus news and Zoom is giving K-12 schools free video conferencing. Is there a way your company can help people in need right now? You’ll be remembered for it. 

Establish a company policy of flexibility

Just as you have to be flexible with your employees and their quickly-changing challenges, you also have to be flexible as a company. For example, if a client calls customer support to request an extended payment plan, empower your support team to deviate from your standard policies and allow it. Be open to changing how you usually do things if it makes sense and shows compassion. You’ll likely prevent avoidable churn.

Jessica Pfeifer, Chief Customer Officer at Wootric, shared this recent story with our team:

“I just had a customer reach out about putting their subscription on hold. They operate in the hospitality sector which has been particularly hard hit. We offered to work out a plan to enable her to continue to get customer feedback during this critical time. Her response was ‘That would be amazing! Thank you!’ I know we’ve strengthened customer loyalty.”

Customers notice the companies that support them in difficult times, so be flexible when you can, and you’ll build loyalty for the future.

Close the loop with customers when they offer feedback

This may be built into your CX program already, but if not, now is the time to double-down on listening and responding to customers. Ensuring your customers feel heard and cared about in times of high stress carries more weight than when times are easy. So if a customer responds to one of your surveys, be sure to close the loop and let them know you value their time and will take appropriate action. 

Customer success managers can reach out one-on-one via email or phone, but that isn’t always practical. Closing the loop can be automated when you have your feedback readily available in systems like Intercom or Salesforce. Here’s a quick guide on how to automate closing the loop on customer feedback.

Improve customer experience at customer journey touchpoints

In SaaS, this often means using an NPS survey to gauge overall loyalty and surface any issues that may affect renewal. To get serious about retention, consider asking for feedback at critical SaaS journey points–after onboarding, support interactions, and during product/feature use.

This isn’t about quickly adding a slew of new surveys overnight; it’s about prioritizing improvements to moments that, if not successful, can sow the seeds of churn. Now is the time to double-down on understanding and improving the customer journey.

SaaS Customer Journey touchpoints and surveys

Also, remember to analyze the qualitative feedback from these surveys. A customer who is “satisfied”  but mentions a concern over price may now be at a higher risk of churn.

SaaS Product Feedback with topics auto-categorized
Source: Wootric CXInsight Analytics Platform

Focus product development on reducing friction for existing customers

In the software business, product experience is the all-important driver of customer experience. So, to foster customer loyalty, think about what you can do to create more ease for existing users.

Blake Barlett at OpenView says product-led growth is the key to success in the End User Era. In this era, end user annoyance spells opportunity. Think Slack vs. email, or Zoom vs. Hangouts.

End User Era - example software products

In financially uncertain times, a product-led development philosophy can hold the key to faster end user adoption and increased retention. Tune into those day-to-day annoyances – they hold the key to retention.

Accelerate end user adoption

Happy end users make your application stickier, so if your champion is struggling to persuade others in their company to use your platform, you need to know why. You may need more in-app cues and guidance to make tasks easier. What is “so annoying” about your product? Ask your customers that, and you may find exactly what you need to reduce friction – which will pay off in retention.

Now is the time to deepen relationships and partnerships with promoters

Guneet Singh, Director of Customer Experience programs at Docusign, spoke about this in a recent Voice of the Customer webinar. He looks for champions among his promoters who have a common pain point, and then brings them together in councils that engage with DocuSign’s product team. Through this customer advocacy program, his customers learn from each other, get a first look at new product features, and provide valuable insights for the DocuSign product development roadmap.

How do you begin a customer advocacy program like this? Pay attention to customer requests and “start with small wins,” says Guneet. “If you complete the feature that a customer asks for, by listening and acting on their words, you’ve won that customer for life.” 

We couldn’t agree more!

The most valuable commitment we have is to our customers. And as much as we work to grow, to scale, to expand — it’s times like these where we have to remember to appreciate the people who already support us and show them support too. We’re all in this together.

Learn how Wootric can help you measure and improve customer experience. Book a consultative demo today.

6 Customer Experience Best Practices to Transform Your Patient Experience Program

In many important ways, healthcare organizations and consumer businesses are fundamentally different. And yet, there is no question that today’s patients bring a distinctly consumer mindset to their healthcare experiences. That means patients are better informed about their healthcare choices. They have easier access to information and reviews about providers and facilities. And they are much more willing to walk away from providers that can’t deliver both quality care and good overall experiences.

This dynamic raises an intriguing question: If patients are increasingly bringing consumer expectations to their healthcare experiences, what (if anything) can the healthcare industry learn from leading consumer companies about improving those experiences?

The answer, as it turns out, has important implications. A growing number of healthcare providers are discovering new solutions to long-entrenched challenges and limitations by exploring, adapting, and applying proven customer experience (CX) best practices to their patient experience (PX) efforts. There are many examples, but to begin the conversation, here are six proven and broadly accepted CX best practices that are especially relevant and useful for healthcare organizations looking to breathe new life into their patient experience programs.

Best Practice #1: Build a Winning Patient Experience Strategy

Today, 90% of healthcare organizations say improving patient experiences is a high priority. But only 8% of those organizations have managed to put a successful patient experience strategy in place. [1] This huge gap highlights the challenges of actually creating a balanced and complete patient experience strategy that defines who your patients are, clearly outlines what kinds of experiences you want to provide, and describes how you want patients to feel after they receive care from your organization.

There are obviously no easy, one-size-fits-all prescriptions for developing a strong, effective PX strategy, but there are some core ideas from the consumer world that can help guide your efforts:

  • Create a more patient centric culture. Cultural changes are never easy. But many leading consumer organizations have proved that with consistent, ongoing effort, you can successfully define what “patient centricity” means to your organization, communicate that definition and get buy-in across every level of the organization, and ultimately shift your core culture to focus more on delivering complete, world-class patient experiences.
  • Align your patient experience strategy with your core brand and business strategies. The world’s best consumer businesses understand that a successful CX strategy has to be closely connected to and aligned with the organization’s brand and business strategies. The same is true in the healthcare world. With the proper alignment in place, you can make clear promises about what patients should expect from your organization (brand strategy), consistently deliver on those promises (PX strategy), and then connect those experiences back to your organization’s overall goals (business strategy).
  • Find and engage with a dedicated customer experience executive. Getting organizational buy-in for patient experience improvements that impact multiple departments always requires strong leadership from the top. Smart consumer businesses often assign a dedicated executive to provide the leadership, influence, and continuity needed to develop and execute on a successful CX strategy. The same approach will help drive the success of your PX program.

Building and implementing a successful patient experience strategy takes time and a lot of persistent effort. But with the right strategy in place, you’ll reach a point where all the people, data, technology and processes you put in place start to yield results that are clear to everyone—from employees who are now empowered to deliver better experiences to patients who experience the results first hand.

Best Practice #2: View Your Patients’ Experiences Through Multiple Lenses

Many healthcare organizations depend on standardized survey programs as their main (or only) source of patient experience data. But the best consumer organizations have learned that meaningful improvement comes from collecting information from the widest possible range of sources along every step of the customer journey. For healthcare organizations, this involves combining and complementing standardized surveys with more targeted and personalized information gathering tools. It also includes finding ways to unify and tap into all of the incredibly rich sources of patient information that exist in your point-of-care, safety and quality, operations, and other healthcare systems. Surveys ask patients to look back at their experiences after they’re over, but these other tools often measure reactions and responses in real time at specific points. They also make it possible to incorporate and share (with permission) the perspectives and experiences of family members who are involved in caring for their loved ones.

Of course, this “multiple lens” approach requires a technology platform that’s capable of normalizing all these different sources of data, analyzing them, and converting them into cohesive and useful patient experience insights. But when this platform is in place and working properly—and all of your different patient systems are connected to it—you gain an incredibly rich and unified view of the complete patient journey.

Best Practice #3: Use Predictive Analytics to Prioritize Your PX Efforts

In addition to combining and analyzing customer experience data from different sources, smart consumer organizations leverage advanced predictive analytics to accurately identify what matters most to their customers and pinpoint what types of CX changes will have the biggest positive impact.

By adding this additional intelligence to your patient experience technology platform, you gain the confidence of knowing that your efforts are making the largest possible contribution to increased loyalty and improved patient experiences.

Best Practice #4: Empower Employees to Make Smarter, Faster Decisions

For consumer businesses, survival often depends on making smart decisions faster than the competition. In the CX realm, this typically takes the form of dashboards and reports that quickly synthesize multiple performance measures and data sources into clear, simple, and actionable insights—and then makes them available to everyone who needs them in nearly real time.

In most cases, healthcare organizations have been much slower to adopt these types of dynamic, customizable tools. But a technology platform that combines and unifies different sources of patient data also lays the groundwork for the types of near-real-time dashboards that can drive smart, informed, and relevant patient experience decisions across every layer of your organization.

Best Practice #5: Take Advantage of the Net Promoter Score

The Net Promoter Score (NPS) uses a single, standard question to measure how likely a customer is to recommend a product, service, or brand, and it has been nearly universally adopted by companies in the consumer world. NPS serves a uniquely valuable purpose, because it uses a single numeric score to consistently measure satisfaction and brand loyalty across nearly every market and industry.

Today, the healthcare industry rarely uses NPS, but it presents an interesting opportunity for forward-looking healthcare organizations. By adding NPS to your patient experience program, you can gain a perspective that goes beyond the healthcare industry—and measures your performance against the larger consumer landscape. This becomes especially valuable as patients increasingly bring consumer expectations to their healthcare experiences. Of course, with NPS—as with any other metric—it’s important to focus on meaningful action and improvement, rather than simply “chasing the score.”

Best Practice #6: Focus on Actions and Results

Nearly every consumer organization collects customer experience data and documents the results. But the true CX leaders also know how to translate those efforts into meaningful, systematic changes and improvements, and they know how to do it quickly. This is an especially relevant area for healthcare organizations, because there is a strong tendency to focus more on collecting patient experience data than actually driving and managing change.

That’s not surprising. Gathering survey data, generating reports, and documenting scores are focused, self-contained activities that fit neatly into familiar, well-defined boxes. Effective change management, on the other hand, requires the buy-in and active participation of virtually everyone, across all roles, levels, and departments. As a result, many healthcare organizations dedicate resources to the part of the process they can more easily understand and measure—and hope that the information somehow leads to improvements.

For consumer businesses and healthcare organizations alike, closing this gap between measurement and action means investing equally in the information gathering and change management sides of the equation. If you’re collecting more complete and relevant information about your patients’ journeys in real time and from more sources, turning that data into actionable insights in near real-time, and then feeding it into a unified and effective change management framework, you can quickly identify, prioritize, and implement changes that will make the biggest difference for your patients.

Start Applying CX Best Practice to Your Patient Experience Program Today

The world’s biggest and most successful consumer businesses have been obsessed with improving their customers’ experiences for decades. And despite the important differences between healthcare organizations and consumer businesses, there is a very long list of techniques, tools, and best practices you can adapt and apply to breathe new life into—and create new possibilities for—your patient experience program.

Find out how MaritzCX can help you apply best practices from the consumer world to enhance every part of your patient experience program and meet the rising expectations of your patients.

Call 385.695.2800 or visit maritzcx.com/patient-experience to talk to a representative and schedule a demo.

 

[1] Kaufman, Hall & Associates report 2017 State of Consumerism in Health Care: Slow Progress in Fast Times.

A Sales Gong for CX : Broadcast Real-time NPS to Your Entire Workplace

The sales gong is a motivational technique used on sales floors around the world. Every time someone closes a deal, they bang a gong or ring a bell to celebrate their success. And when the office gets quiet? Everyone knows it’s time to hustle. 

In other words, there’s never any question about how the team is doing at any given moment, and the constant feedback gets the entire sales force aligned in their mission to sell, sell, sell. 

Now… imagine doing the same thing, for your entire organization, regarding Customer Experience (CX)? Rather than a sales gong, picture a TV monitor that broadcasts real-time customer feedback and Net Promoter Scores (NPS), getting everyone from accounting to operations aligned in the mission to turn customers into raving fans.

Broadcasting real-time NPS data will help you build a customer-centric culture, which ultimately leads to greater customer loyalty and powerful returns.

What is a Net Promoter Score (NPS)?

Measuring your Net Promoter Score is relatively straightforward. An NPS survey asks your customers to rate, on a scale of 0-10, how likely they are to recommend your company, products, or services to a friend or colleague. 

Responses are then grouped into:

  • Detractors (those who responded 0-6)
  • Neutrals (7-8)
  • Promoters (9-10)

To determine your Net Promoter Score, subtract your percentage of promoters from your percentage of detractors.

NPS = (% Promoters – % Detractors) 

Example: You survey 500 customers, asking how likely they are to recommend your company to friends or colleagues. 50 respondents (10%) answered 0-6, another 100 (20%) answered 7-8, and 350 (70%) answered 9 or 10.

Your Company’s NPS is 70% – 10% = 60.

The Net Promoter Survey is then followed by one of the following open-ended questions (depending on their answer):

  • “What can we do to improve?” (those who rates you 0-8) 
  • “What did you love about your experience? (those who rated you 9-10)

Why does NPS matter?

The correlation between revenue and CX is solid. And, NPS is the foundational metric that can serve as a north star on the journey to customer-centricity and the growth that comes with it.  However… simply gathering feedback and measuring NPS gets your nowhere. 

The real power of NPS comes from the system you build around it. This means:

  • Closing the loop with customers (i.e., fixing the problem, thanking them for their feedback).
  • Analyzing responses to prioritize improvements to products and services.
  • Using NPS to create a more customer-centric culture.

Only then does NPS help you retain more customers and drive growth. 

In a custom-centric company, the Success and Support teams works diligently to close the loop with customers, the Product team analyzes the data to create superior products, and Marketing crafts their messaging to educate and answer objections before they arise. 

As for shifting company culture? That’s a job for the CEO or a C-Suite sponsor of your NPS program (often with the support of the VP or Director of Customer Experience). 

Creating a more customer-centric culture with NPS

Culture change is a multifaceted undertaking, but you can anchor it with your NPS program. Evangelize NPS as a Key Performance Indicator (KPI), right alongside revenue, churn, and other important figures.  

What does evangelizing NPS look like? 

  • Educate everyone (from new hires to the board) about why NPS is important to customer experience management.
  • Share the results of NPS surveys in company newsletters and quarterly board decks.
  • Don’t just share the score by itself. Include customer comments and NPS trends by customer segment.

Where reports and memos fall short

Unfortunately, in between those quarterly reports, NPS can get lost. Unlike the Sales gong that keeps everyone on the floor tuned into customer acquisition as a Key Performance Indicator, NPS can be out of sight and out of mind. 

And that’s where a real-time display of NPS feedback comes in. You can bridge that gap between reporting cycles when you display your evolving NPS live, on a monitor, along with raw customer feedback.

Real-time NPS displayed on a monitor in the workplace
Real-time NPS, trends, topics, and comments on a Wootric TV display.

4 Reasons to broadcast real-time NPS and feedback in the office

If your goal is to create a more customer centric company and reap the benefits of a high NPS, an “NPS TV” can help unite everyone on that mission in the following ways.

1. Reinforce awareness of NPS as a KPI.

Certain KPI’s are more obvious than others. Revenue, profit, and conversions get a lot of airtime, but NPS is easy to ignore unless you put it front and center.

In reality, everyone should be thinking about NPS if you want to drive growth!

2. Build empathy with the customer. 

There is nothing quite like seeing the latest comments from active customers appearing on screen. Overjoyed, frustrated, curt, complimentary—it’s the emotions in the verbatim comments that humanize your customers and creates a connection to their experience. For more tips, check out these ways to build customer empathy

3. Reach departments that don’t normally engage with customers. 

The customer success team lives and breathes NPS because it’s an early indicator of churn. But the finance team? Not so much. At customer-centric companies, everyone understands their responsibility for customer loyalty. 

Set up the monitor in a prominent place. It could be on a wall everyone sees as they come in or out of the office, opposite the coffee machine, or in any hub in the workplace. 

That way more people are likely to read customer comments and tune into NPS trends.

4. Invest in an easy, low-cost enhancement to your NPS program

For the cost of a computer and a monitor, you’ll be in business in minutes—and that’s a small price to pay if you are after customer experience transformation.  As far as NPS tools go, it’s one of the cheapest and most effective ones on the market.

Note: For remote teams, a monitor doesn’t work. What to do? Create an NPS Slack channel! Click here to learn how to use Slack and NPS date to build customer-centricity.

Customer centricity… and beyond!

Your customers are the lifeblood of your business, but unless an employee’s job is customer-facing, it’s easy to lose sight of what your customers are going through. Making everyone aware of NPS brings the customer experience into stark relief, and it unites everybody in a single, all-important mission.

Remember: Net Promoter Score has a solid impact on revenue, and it’s the single best metric for predicting long-term growth and success—when you build a customer-centric culture around it. If you can involve everyone with creating a positive, seamless customer experience, your NPS score will rise and your revenues will soar. 

Learn how InMoment can help you measure and improve customer experience. Book a consultative demo today.

The Importance of Onboarding in the Automotive Industry: Part 2

To view the first part of this blog series, click here

The Important First Day of the Employee Journey

In the last blog on the Employee Experience in the Automotive industry, we looked at the strategic importance and economic benefit of an effective onboarding process and focused on what should happen prior to the employee’s start date.

In this post, we’ll look at what happens when employees arrive on their first day. As before, we are focusing on the automotive industry, but the principles equally apply to other industries as well.

Creating a Welcome Kit

Once the day has arrived, you want to make it special and the best way to do that is to create an exceptional first impression. Have your receptionist be aware of the start date and ensure that the new employee is welcomed appropriately.

In fact, consider creating a “Welcome Kit” that contains numerous positive first impression opportunities such as branded assessories. Have a welcome letter from the Dealer Principal, or even from the OEM President, prepared and left at the new employee’s desk.

Often items like these are used daily and a new hire will feel an immediate attachment, so much so that they will often continue to use them for years all the while linking back to that first day.

Lastly, provide any desktop resources and in this case, the term desktop is in the literal sense. Any print materials such as dealership newsletters, upcoming community involvement notices, employee recognition programs -anything that conveys positive dealership activity will help to make a new employee feel good about their decision to join the team.

From an online standpoint, consider adding a dedicated Welcome page to your intranet or LMS.  Creating a specific Welcome starting point will be engaging and will direct a new hire to specific curriculum best suited for their role.

Be sure to include a Welcome video or a step-by-step tutorial of where and when to access available training resources which, again, builds on that important first impression and helps to ease the potential training concerns people face with any new job.

As the day continues, ensure a dealership tour takes place and introduce the new hire to the various departments and team members.  This is just as important for the existing team as for the new hire as positive introductions will help break the ice and hopefully lead to productive working relationships.

Engaging the New Employee Beyond the First Day

After the tour, review any administrative processes and outline not only the orientation for the remainder of the day, but also for the week ahead. For example, if this is a sales role, you may want to suggest the new hire learn as much as possible about one specific model per day.

Encourage them to drive the vehicle and speak with other salespeople. Have them talk to the service personnel to better understand the maintenance requirements of the vehicles they’ll be selling. Learning all the details of an entire product lineup can be daunting, so focus on small daily or weekly goals that are attainable.

To sustain this positive feeling past the first day, OEMs or even large dealer groups should consider conducting monthly webinar sessions for new hires. This would be a great way to meet others, online at least, who are in a similar situation and allows for the moderator to run through the onboarding process once again to promote upcoming events, answer outstanding questions, and receive important feedback.

This also could be a great opportunity for a short, anonymous employee survey to uncover any opportunities for improvement in the onboarding process.

Who Should Lead the Onboarding?

In terms of leading the onboarding, often this is left up to a Sales or Service Manager and while this is optimal, typically these managers are busy and other responsibilities may interfere with the full attention they can bring.

As an alternative, consider creating a role for an onboarding Champion, an individual whose responsibility it is to see that new employees are thoroughly walked through the onboarding process and are there to help answer additional questions in the upcoming days and weeks ahead.

This role would not take the place of a manager, as it would likely be a secondary role for a peer in the new hire’s respective department and as such, is designed to be another level of support.

When developing this role, consider making it a possible precursor to a management position as it will involve people skills, accountability, and guidance – all valuable traits in any future manager.

Onboarding is an Essential Part of the Employee Experience

To recap, onboarding is an essential part of the employee experience. Onboarding any new hire will be most effective when done in a consistent process. Include it in the hiring stage, allowing you to demonstrate your commitment to their success, the level of support available, and necessary accountability to complete the required curriculum.

Turnover is costly and leads to lower employee and customer satisfaction so ensure you take onboarding seriously and allocate the necessary resources to make a new hire feel comfortable, valued and a welcome part of your dealership family.

Onboarding is one of the most important processes a dealership can have, as it often predicates the likelihood of a new hire actually staying long term and starting a successful career. Not only will the implementation make a difference in the company, but it will also help individual employees to feel valued and achieve their career goals.

 

 

 

 

The Importance of Onboarding in the Automotive Industry: Part 1

The Automotive Employee Journey

Let’s start with some good news.  According to Tinypulse.com, 91% of employees are retained by an organization with an effective onboarding process and 69% of new hires are likely to stay for three years if there is a well-structured onboarding programme in place.

But here’s the bad news – 22% of staff turnover occurs within the first 45 days.

According to Fred Reichheld, the inventor of NPS:

“If you wonder what getting and keeping the right employees has to do with getting and keeping the right customers, the answer is everything. Companies need to care about the employee experience because that’s the only way they will be equipped to deliver a great customer experience.”

The reality of the statement seems to be hitting home. We do a lot of work in the area of employee engagement.  We have received more requests for information and proposals in the last year for employee engagement projects than we have in recent memory.

The automotive industry suffers from higher-than-average turnover, especially in the key areas of frontline roles that deal directly with the customer. And without a positive employee experience, it is much more difficult to deliver a positive customer experience.

Manufacturers seem to be recognizing more acutely the need to have fully engaged, interested, and satisfied frontline employees which is particularly challenging, in an industry that globally still tends to operate on a franchise model.

In this two part blog series, we will be looking at the employee journey. The first will deal with the time leading up to the employee starting their first day of work; the second will focus on what happens once they actually get there. Even though our focus in this post is on onboarding for the automotive industry, the principles can be applied across industry.

Minimizing Turnover While Increasing Satisfaction

For the automotive industry there’s a very strong economic argument for decreasing employee turnover.  According to Ted Kraybill, president of ESI Trends which conducts the annual National Automobile Dealers Association Dealership Workforce Study in the US, a 10-percentage-point increase in turnover will cost the average dealership $7,500 in gross profit per employee per year.

If the average dealership has 70 people, a 10-point increase in employee turnover for the average dealership costs more than $500,000 in gross profit annually.  Multiplied by NADA’s count of roughly 16,500 dealerships, it’s an $8 billion-plus problem (Automotive News, 2017).

The first step to minimise a high employee turnover is to implement a strong onboarding process for your next hire. A good process will increase the employee satisfaction and retention, whereas a poor one will result in consistent and costly turnover.

Showing Commitment to the Development

By presenting the onboarding steps, brand history, curriculum and resources available, you demonstrate your commitment to an individual’s development, success, and comfort level when first starting a new role. This can be a tense time for anyone in a new position, and the more structure you can present before they are hired, the more likely you are to attract a better candidate.

Communicate Accountability

A second goal along with this support, is to communicate the accountability that goes along with it. By demonstrating that certain courses are to be completed, and a culture that is to be adhered to, you are setting expectations that will need to be met. Too often a new hire exhibits the wrong behavior simply for the fact that they were not told of the desired behaviour by the employer.

By doing this before the actual hire takes place, you ensure they understand what is expected with no surprises after they start.

Share Onboarding Plan Prior to the Employee’s First Day

Once you have made the hire official, often there can be some time gap until the actual start date. If this is the case, you may want to consider sending any applicable resources to the new hire to help prepare them for your brand and/or dealership.

Even having them explore the websites in depth with specific information needs will help them become more familiar with their new surroundings. Here they can learn more about the product and possibly the team they will be working with which can help them feel more at home.

It may also raise some initial questions that they can be prepared to ask on their first day.

Speaking of the first day, an effective onboarding process is transparent, meaning that you need to choreograph the day and prepare the new hire for what’s ahead. Sending an email or text in advance with the day’s agenda will help to confirm your commitment and help them start off on the right foot.

Positive Employee Experiences Turn Into Positive Customer Experiences

The bottom line is that in order to retain employees, effective onboarding processes need to be put into effect. Better preparing employees before their first day and during training will decrease turnover and ultimately help new hires to feel supported by their team, stay committed to development, and increase their communication with leadership.

With an exemplary onboarding process, automotive companies will see an increase in fully engaged, interested, and satisfied employees. And when employees have a positive experience with the company, they are more likely to pass on the positive experiences to their customers.

Click here to read the second part of this series.

Sources:
  1. Automotive News (‘Employee turnover costs dealers billions’ Jan.23, 2017)

9 Novel Natural Language Processing Applications in Business

Building an effective NLP application starts with defining a concrete use-case within a specific domain. No two companies are completely alike, and the same goes for business solutions. But this doesn’t mean that learnings from one project cannot be applied to another. With this in mind, we’ve collected case studies across nine different industries to illustrate the potential uses for natural language processing and text analytics.

Biotechnology

When someone calls into the Medical Information Department (MID) at Biogen, they’re routed to operators who search through FAQ’s, brochures, and product resources to answer questions. If the answer cannot be provided within a minute, the call escalates to an expensive medical director. Biogen wanted to reduce the involvement of these directors. So, they turned to InMoment for a solution to empower, not replace, their human operators. word cloud with common drug side effects over a couple sitting in separate bathtubs and holding hands

First, we configured our core NLP to identify relevant information within Biogen’s resources. Then, we combined this solution with an open-source search engine and custom user interface. The resulting system understands complex relationships within Biogen’s data. Now, MID operators can now type in keywords or questions to get answers in seconds. Early testing by Biogen already shows faster responses and fewer calls sent to medical directors.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“We’ve worked with InMoment for years on programs surrounding Voice of the Patient, Voice of the Key Opinion Leader (KoL), and social media monitoring… They’ve always been a key partner.” — Keith Ho Director of Customer Focus and Medical Digital, Biogen[/perfectpullquote]

Sports & Entertainment

Brandtix delivers actionable brand performance insight for the world’s top athletes and teams by gathering data from social media and news platforms. They turned to InMoment for a powerful NLP platform that could analyze and decode the jargon-filled language of professional sports. Together, Semantria API and Brandtix’s proprietary algorithms now process fan vernacular across 19 languages. As part of this, Semantria analyzes and structures the sentiment of fan conversations as positive or negative, based on context. These capabilities allow Man looking at a smart phone while thinking "If Messi keeps slaying like this I'm going to buy season tickets!"franchise owners, player agents, and PR teams to separate meaningful mentions from general chatter and address PR problems before they get out of hand.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“Choosing InMoment over its competitors was easy — thanks to the mix of service, price, ease of use, and language packs. Further, InMoment counts extraction and sentiment analysis as one action. The other solutions we looked at bill extraction and sentiment separately, charging double the volume and double the price.” — Shahar Fogel Vice President of Product, Brandtix[/perfectpullquote]

Social Media Monitoring

evolve24 is a data analytics firm that combines myriad data sources to help companies develop strategic direction. To process information and provide market intelligence in real-time, evolve24 can only employ best-in-class toolsets with the lowest possible latency and downtime. Salience, a core AI-based NLP engine, provides low-latency text analytics that processes five or more tweets every second, expediting evolve24’s time-to-value for their customers. Salience’s power and customizability give evolve24 the ability to keep up with increasing volumes while helping them maintain high standards of consistency and measurement across a range of text data sources.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“The text analytics engine is a key tool for us in conjunction with our proprietary emotion metric; this next evolution of functionality promises an even more comprehensive look into the conversations our customers’ customers are having.” — Noah Krusell VP of Product Development, evolve24[/perfectpullquote]

Customer Experience Management

VOZIQ offers a suite of Predictive Customer Retention and Customer Experience Management solutions for call centers. Traditional churn prediction models rely on transaction histories and demographics data but fail to incorporate consumer-generated input with real customer sentiment. VOZIQ turned to InMoment to fill this gap. Man looking puzzled while looking at a paper. He has happy, neutral and mad sentiment emoji's floating above him.

Through Semantria, VOZIQ categorizes the text comments and identifies customer sentiment from survey scores and keywords in each call log. Since partnering with InMoment, VOZIQ has retained thousands of customers for their clients, resulting in millions of dollars in additional revenue each year.

Industrial & Aviation Design

Gensler’s Los Angeles Aviation and Transportation Studio partnered with InMoment, leveraging sentiment analysis on customer feedback to make better-informed decisions about the planning and design of airports. The result is a data-driven voice of customer program that can help win contracts and build airports that better serve stakeholders and travelers alike.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“As a global industry leader in airport architecture, we utilize the power of Semantria’s rapid and precise data analysis to create better-informed designs for the airports of tomorrow.” — Andy Huang, AIA LEED Associate Designer, Gensler Aviation and Transportation Studio[/perfectpullquote]

Hospitality & Hotel Management

Word cloud of words associated with hotel stays floating above a housekeeper making a bedRevinate helps over 30,000 hospitality providers measure  online presence, analyze consumer feedback, and reinvent the guest experience. With over 2,700 categories, 100 restaurant topics, 200 hotel topics, and nine languages, Revinate gives their customers the ability to measure consumer sentiment in critical categories, such as rooms, staff, service, and food. Semantria’s customizability lets Revinate’s users create lists of custom topics, follow trending topics as they evolve, and compare sentiment scores across multiple organization-specific metrics.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“The support from the team at InMoment was outstanding; they made a very complex project seem simple. With their partnership, we met our goals on time, delivered the best possible product, and were set up to ensure continued success.” — Matt Zarem, Senior Director of Product, Revinate[/perfectpullquote]

Technology & Electronics

A large tech company’s Customer Market Research (CMR) team helps managers across the company make better decisions regarding product and market strategy. Before, the CMR team used to listen to the Voice of the Customer by designing, distributing, and analyzing a wide range of surveys. As the group began working to integrate social media data, they turned to InMoment.

Their team needed to effectively filter social content in order to extract relevant data, reduce survey spend, easily configure flexible one-off analyses, and validate long-term trends. Traditional social listening tools didn’t offer the customizability and scalability that the CMR team needed, so they contacted InMoment to discuss a “semi-custom” solution.

First, the CMR team extracts a subset of social comments from a InMoment-built data warehouse, based on the products and brands they want to know more about. Then they use Spotlight to analyze this data and understand what people are saying, how they feel, and why they feel that way. Next, they validate the results and relate the net sentiment score to quantitative Likert™ Scale survey data. This approach allows them to compare and contrast what people say in structured surveys, versus what they say in the unstructured environment of social media.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“InMoment is the only vendor we’ve seen that can offer the flexibility that is required to support our complex product line.” — Csaba Dancshazy Senior Market Research Manager [/perfectpullquote]

Fitness Lifestyle & Events

Tough Mudder Inc. has grown to become a leading active lifestyle brand and endurance event company with more than 2.5 million global participants. The Net customer survey with abstracted positive, negative and neutral textPromoter Score (NPS) is an essential measurement for the company. However, the volume and the qualitative format of their post-event surveys make it challenging to garner insight.

Using Semantria for Excel, the Tough Mudder team reduced manual survey coding time by 90%. Working with InMoment staff, they designed custom queries to solve an industry-specific sentiment analysis problem. In total, Tough Mudder uses InMoment to process 2,000 surveys for each of the company’s 78 events per season, some 156,000 surveys total.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]“By teaming with InMoment, Tough Mudder is able to report Net Promoter Scores and review participant feedback within a week of every event. The company’s ability to make strategic adjustments based on customer insights is invaluable to providing the ultimate event experience.” — Sydney Friedkin Consumer Insights Analyst, Tough Mudder Inc.[/perfectpullquote]

Regulatory Compliance & Financial Services

The Australian government mandates that financial Statements of Advice (SoAs) include disclosures covering conflicts of interest, own product recommendations, and more. Financial services providers doing business in Australia use SoA templates and frequent spot-checks. This helps make sure that financial advisors aren’t modifying or deleting critical disclosures.shows how the identified semi-structured text can be extracted into a structured spreadsheet

An average-sized firm produces hundreds of pages of SoAs each week. Manual review is costly, unreliable, and exposes the firm to high non-compliance risk. One such firm, unable to find an existing contract analysis tool that could solve this exact problem, turned to InMoment for help. First, we trained our semi-structured data parser with machine learning to understand the underlying structure of the Statement of Advice document. Then, we built a custom natural language processing configuration to extract and analyze entities and other text elements. Then, we structured and exported the resulting data into a simple spreadsheet.

Now, in mere minutes the firm’s auditors can see whether proper disclosures were made across hundreds of documents. They can even identify where an advisor’s recommendations may go against their client’s stated goals and risk attitude. This substantially lowers the firm’s non-compliance risk even while reducing their disclosure compliance costs.

Deploying NLP in Your Business

All of the NLP applications above show how text analytics/NLP can help companies increase revenue and reduce costs. But can a natural language processing application solve your business problems?

Start by answering these questions:a woman holds up boxes representing machine learning

  • What’s your need?
  • What’s your desired outcome?
  • Do you have enough data?
  • Do you have the right data?
  • Does the technology exist?
  • Can you build it?
  • Is there an established vendor you can work with?
  • How will you measure your outcome?

Your answers will help you figure out the best way towards solving your own business problems in a cost-effective way. Often this comes down to a question of Build vs Buy. In many (most) cases, it will make more sense to partner with a reliable NLP vendor – so long as you do your homework.

The truth is that many companies flaunt shiny AI systems that promise to solve all the world’s problems. But while moon-shot projects certainly are admirable, the nature of those projects often doom them to failure from the outset. And in the end, business users are not angel investors. They need real applications that deliver results today, not years in the future.

We can’t stress this enough: Everything comes down to how applicable an NLP solution is to your business. Whether you’re in hospitality, entertainment, financial services or any other text data heavy industry, natural language and text analytics can be utilized to unlock value. If you see potential for NLP within your a businesswoman sits on an airplane working on her laptoporganization, then the next step is to reach out to a vendor. If you speak with InMoment, we’ll start by sitting down with you to understand precisely what you’re trying to achieve, the context you’re working in, and why other providers don’t meet your needs.

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Best Practices to Improve Experiences in a Patient-as-Consumer World

In just a few short years, technology and business innovations have fundamentally changed how people interact with—and what they expect from—the services and organizations they depend on. Today, the unavoidable fact is that people make decisions and invest their loyalty based mainly on experiences, not necessarily the nuances of products or services.

This consumer-focused and experience-driven reality has profound implications for the healthcare industry. People expect fast, deeply personalized, and highly mobile experiences in nearly every aspect of their lives. They won’t tolerate long wait times or dismissive providers. And they won’t hesitate to share their opinions on social media, use the power of the Internet to investigate other options, or switch to a healthcare provider that offers them the kind of patient experience they expect.

In this landscape, your organization simply can’t afford to stick with the status quo or fall behind the patient experience curve. You need more effective, innovative, and unified programs to understand every aspect of your patients’ journeys; accurately measure their experiences; and quickly convert all the patient data you collect into practical, meaningful improvements. And you need to get there quickly.

1. Fully Explore and Understand the Challenges

There are legitimate reasons why healthcare is rarely at the top of people’s “best experiences” list. Understanding what those reasons are, how they impact your patient experience efforts, and what you can do to overcome them is the first step in taking your patient experiences program to the next level.

Siloed and Regulated Patient Data

In the healthcare industry, incredibly rich sources of data are sitting in various safety, quality, point-of-care, operational, and employee systems, but all that information is locked inside protected, regulated silos where it serves a narrow purpose that is completely disconnected from patient experience concerns. This inevitably leaves you with a narrow, incomplete view that limits your ability to understand the complete patient experience.

Limited Standardized Survey Tools

Since CAHPS inception in 2006, the surveys have brought public accountability to the healthcare industry, and an increased focus on patient satisfaction. But now, forward-thinking organizations are looking for immediate, within hours, feedback instead of weeks, from social media and other digital channels, and there are new innovative tools that can supplement patient feedback.

Ingrained Cultural Mindsets and Processes

Healthcare professionals are dedicated to providing the best possible care for their patients, and they do a remarkable job. But depending on the circumstances, the experiences that surround that care can leave something to be desired. Complex regulations and internal processes create confusing check-in procedures and stacks of paperwork. Budget-driven understaffing leads to long wait times and rushed, overextended providers. Understanding the root of the problem is key in determining what actions are needed to make the working environment and patient experience better.

2. Overcome Challenges with an All-Inclusive, Results Driven Approach

When you fully understand the scope of the patient experience challenges you face, it’s clear that more patient surveys and a deeper investment in standardized CAHPS surveys is not the answer. Jumping to the head of the patient experience pack will require a more flexible, holistic, and results-driven approach.

Embrace a Centralized Technology Platform to Unify Patient Data and Additional Research Capabilities

An all-inclusive approach to patient experience has to start with a centralized technology platform that combines all of your patient data sources into a single, unified, and multi-faceted view. It is imperative that patient experience organizations leverage a technology platform that takes advantage of CAHPS, adds depth and flexibility to collecting patient data, and engages with patients in different ways, traditional mail, email, mobile, social media, and more.

Data and technology are essential components of any all-inclusive patient experience program. But you can’t reach your full potential without some proven customer experience strategies and proven services like understanding the patient care journey, easily customizing and personalizing patient survey design, adding a governance component to your strategy and plans, and being able of dig deeper into data using some type of true driver analysis tool.

The healthcare industry can learn a lot from customer experience programs in other industries. But that requires experts who understand both customer experience best practices and the complex nuances of the healthcare industry.

3. Design, Diagnose, and Deliver a World-class Patient Experience Program

It’s important to understand the big picture. But what does an all-inclusive program look like in practical terms? And what does it allow you to do that you can’t do today? Here are a few practical capabilities and benefits you can look forward to with a comprehensive patient experience program.

  • All of your existing survey tools, including CAHPS, become part of an all-inclusive patient experience program, visible within one platform.
  • Surveys are easy to customize and change, so you can design them for each individual patient, collect more reliable data, and measure every patient’s complete journey.
  • Patients can access surveys using whatever methods they’re most comfortable with – from completing a paper survey and mailing it to tapping responses on a smartphone.
  • Data from every source is instantly uploaded to a platform, so you can combine survey data with safety, quality, operational, financial, and clinical data to gain deeper, more complete insights and pinpoint specific areas for improvement.
  • Use tools to call out immediate action
  • Learn about patient experience services to fill gaps, meet specific needs, and enhance and expand every part of your patient experience program.
  • Follow a specific, step-by-step patient experience roadmap – based on best practices and created specifically for your organization – so you can focus your efforts and resources on initiatives that lead directly to your desired outcome.
  • You should leverage expertise from customer experience (CX) best practices to enhance your team and guide your efforts.

Find out how healthcare organizations break the mold and build a results-focused patient experience program that’s built to meet the expectations of modern patients in the digital age. Contact us at 385.695.2800 (8am-5pmMT) or visit www.maritzcx.com/patient-experience

 

 

 

How to Use AI to Solve Real Business Problems

When people think AI, they often think big, such as curing cancer or solving climate change. Everybody is dreaming up the biggest problems possible and attempting to solve them with AI. Or there’s the flip side: not knowing what to do with AI and avoiding it accordingly. Hence why, according to McKinsey, just 20% of surveyed executives use AI-related technologies in their businesses.

There is a middle ground that will allow you to effectively integrate AI into your business without shooting for the moon (and blowing up on the launch pad). Look for business use cases where AI is already a proven solution — or an emergent one. And ensure that you have the data ecosystem available for AI to do its work.

With the right business case and the right data, AI can deliver powerful time and cost savings, as well as valuable insights you can use to improve your business.

Let’s take a look at a handful of business problems and how AI has been employed to solve them. These are practical, pragmatic, replicable efforts. It’s not intended to be a comprehensive list but instead a group of examples of “right-sized” projects.

The Problem: Predicting Customer Churn And Acting On It

VOZIQ provides customer experience management software to contact and call centers. (Full disclosure: VOZIQ and AlternativesPharma are Lexalytics, an InMoment Company, customers.) For these centers, churn reduction is a major KPI. And they do so largely by using demographic and transaction history data.

However, this approach fails to capture the real-time, dynamic customer data picked up over the phone, much of which is recorded in notes taken by call center workers.

Rather than letting this data sit untapped, VOZIQ made use of it. It integrated AI to analyze post-call comments, categorizing them by topic and flagging sentiment scores that indicate customer dissatisfaction and the likelihood of churn. The company’s call center clients now receive insight into customer motivations, concerns and reasons for calling and are able to use this data to quickly spot and address customer churn.

The Problem: Creating Surveys That Deliver High-Quality Responses

SurveyMonkey is a leading survey software that lets businesses create and publish digital surveys in minutes. The system crunches an incredible 3 million responses every day. Since launching in 1999, SurveyMonkey has built up a powerful database of consumer and employee responses, and it’s now using AI to leverage this data.

Person-Doing-a-Survey-with-Clipboard.pngIt’s doing so in a few ways. One of them is by tapping into past survey results to help businesses create high-performing surveys with high completion rates. The system delivers real-time recommendations for adjusting which questions are asked and how in order to generate higher quality data. The data received by SurveyMonkey comes from unpaid survey-takers, so optimizing for high-quality responses is essential.

The company is also using AI to help organizations map customer feedback via sentiment analysis and to help vet candidates for jobs, scholarships and programs. Together these changes mark SurveyMonkey’s shift toward becoming a business intelligence tool.

The Problem: Reading And Handling Online Reviews

There are countless online reviews sites for guests, travelers and diners to post their experiences. But reading and reviewing them is no simple task. Reviews are scattered across a variety of sites, many of which use different formats. Add to this the challenge of unstructured, text-based reviews and the multilingual nature of the hospitality industry, and obtaining a comprehensive snapshot is a serious challenge.

But this is exactly the sort of situation where AI shines. For example, luxury hotel operator Dorchester Collection is using AI to monitor its own and competitor reviews to identify genuine guest needs. Using a platform called Metis, Dorchester Collection parses, summarizes and contextualizes reviews in order to gain insights, plan next steps and maintain a competitive advantage.

The Problem: Creating Messaging That Resonates With Users

What patients say in a clinical setting is different from what they say behind closed doors — or in the anonymity of the internet. AlternativesPharma is all too aware of this, which is why it uses qualitative data from web forums, social media and blogs in its efforts to help pharmaceutical marketing teams connect with both patients and doctors.

However, sourcing, collating and analyzing such data on a suitably large scale is impossible without the help of technology. To get the insights and in-depth analysis needed to improve pharmaceutical messaging and communications, AlternativesPharma turned to AI. This has allowed the company to analyze, categorize, and “theme” patients’ online discussions around particular diseases and pharmaceutical products. With new insights into how patients talk about certain ailments, AlternativesPharma has been able to help its clients more effectively communicate with patients and medical providers.

Building A Business Case For Your AI Problem

So how do you go about bridging the gap between AI as a possibility and AI as your chosen solution? Building a business case for AI isn’t so different from building one for any other business problem.

First, identify a need and a desired outcome (automation and efficiency are common drivers of successful AI projects). Then undertake a feasibility assessment. You’ll need to determine whether you have enough data to work with and whether it’s the kind of data that lends itself to pattern identification and subsequent decision making. You’ll need to make sure that the technology is sufficiently advanced to do what you need to do. If not, an existing solution may be the more cost-effective option.

Finally, you’ll need to ensure that the ROI of “success” is there. How will you measure your outcomes, and how will you incorporate these new understandings into your business model?

Implementing AI can be a big undertaking. But if you start with a business problem and take an incremental approach, you’ll be able to leverage its time and cost efficiencies to stay competitive both now and in the future.

This article originally appeared on Forbes Technology Council.

Further Reading: AI Use Cases, Ethics Concerns and More

AI in Education: Where is it Now and What is the Future?
Text Analytics in Healthcare: New & Emerging Applications
How to Choose an AI Vendor – 4 Questions to Answer
Artificial Intelligence in Retail – 10 Present and Future Use Cases
AI in Healthcare: Data Ethics & Privacy Concerns
AI In Financial Services: Three Current And Emerging Applications

Advice on Adding a Reward Component to Your CX Program

Recently more and more of our clients are considering adding a significant reward component to their customer experience (CX) programs. This may take place by directly rewarding CX outcomes, or by adding them to an existing reward-based incentive program. Many automotive manufacturers have been using CX outcomes in their reward-based incentive programs for decades.

The insights provided below are based on our experience running the CX component of many of those programs. There’s a lot to think about if you are considering combining reward or compensation components with your CX program.

Your program will come under much more scrutiny and participants will care much more about it. Participants, especially those who do not achieve the reward, may also
challenge your program. This is why the process of setting, communicating, and enforcing program rules (i.e., program governance) becomes very important.

For the purposes of clarity, in the descriptions below we are going to use a typical example of a customer experience program that is run by a company to obtain feedback about experiences across its retailers (i.e., the reward program participants). However, when we refer to “retailers,” they could be any customer-facing program participants like franchise locations, bank branch managers, insurance agents, hotel managers, etc.

Consider What You Want to Accomplish

Adding a successful reward component to a program involves making many decisions about how to structure your program, that will ultimately determine its success. Before you begin making these decisions, it is important to clearly articulate (ideally in writing) what you hope to accomplish. For example:

  • What kinds of behaviors are you trying to change, and in whom?
  • Are you looking to reward people whose feedback indicates they are doing an exceptional job?
  • Are you hoping to nudge low-performing retailers to begin focusing more on customer experience?
  • Do you just want to incentivize people to keep doing what they’re doing?

Most programs we’ve encountered are set up to award the majority of retailers, both for marketing and retailer improvement purposes. However, due to budgets, there is a trade-off between the number of retailers you can reward and the size of the rewards you can give.

This is just one example of why it’s important to have alignment on the purpose of your program up front, so that the goals you set, metrics you collect, rewards you give, etc. can be strategically chosen to bring about the specific impact you want.

Qualification Criteria

Once you know what you want to accomplish with your program, you’ll want to decide what criteria need to be met for a retailer to qualify for consideration for the reward. There several factors that should be considered:

Pre-qualifiers: Some programs set criteria for a retailer to be eligible for reward consideration, no matter what their score. These criteria may be financial-based (e.g., minimum sales) or CX program-based.

For instance, if the retailers in the program are the source of the customer contact information, the percentage of provided sample with valid email addresses (i.e., data cleanliness) and/or the overall percentage of customers with valid email addresses (i.e., data coverage) are often used as pre-qualification criteria.

This encourages retailers to collect and report email contact information to be used for surveying purposes. Other pre-qualifiers can include retailers having completed training and other activities that contribute to the delivery of exceptional customer experiences.

Number of Returns: You will need a reliable and valid measure of customer experience upon which to base your rewards. To have enough surveys responses to produce a valid score, the general rule is 1000 is great, 100 is good, 30 is acceptable, and anything below that is questionable.

However, even when using 30 as the minimum responses needed, problems often occur because each retail unit needs to have that number of returns in the time period being measured. For context, many of our programs that receive over a million responses per year have difficulty meeting the 30 minimum responses at the retailer level because those responses are unevenly spread across thousands of retailers.

So, what do you do?

You need to look at the distribution of responses across your retailers and pick the highest number of returns that won’t exclude too many retailers due to low sample size. This analysis will also help you decide what time frame is needed to gather enough returns at the retailer level. Meaning, you might not have enough returns to support a program that gives quarterly rewards, but you may be able to give rewards semi-annually or annually.

Goals and Cut Off Scores

When implementing a reward program, you’ll need a goal or cut-off score that determines who earns the reward and who does not. These goal scores have many characteristics you need to consider.

SMART Goals: First of all, your goals should follow the SMART guidelines. In other words, your goals should be Specific, Measurable, Attainable, Relevant, and Time-Based. Describing the details of SMART goals is too large of a topic to address here, but that information can easily be found online.

A Single-Item Measure vs. an Index: You also need to decide if your goal is going to be determined by a single customer experience measure (e.g., Net Promoter Score, Overall Satisfaction with the Transaction) or an index that combines measures.

An index of key performance indicators (KPIs) is usually preferred because it is more statistically reliable, and you can focus your employees on achieving various KPIs. The KPIs making up the index can also be weighted to account for their relative importance in determining the customer experience.

We recommend that an index contains no more than three or four measures because people and businesses can only focus on a few things at a time.

A Universal Goal vs. Different Goals: Another important decision is if you will use a universal goal for everyone in the program or if you will have different goals for different groups of participants. While a universal goal is easiest to administer, in many cases it is not the best choice.

Because CX performance can vary greatly by geography, most reward-based CX programs set different goals for different countries, and many set different goals by region within countries to ensure fairness.

A Single All-or-Nothing Goal vs. Tiered Goals: One problem with setting a single all-or-nothing goal is that the goal may not be motivating for program participants who are so far away from the goal that they have virtually no chance of obtaining it. Therefore, you might consider adding a smaller reward solely based on improvement or provide rewards based on level of goal attainment (e.g., at 80%, 90%, 100% and 110%).

Another problem with having one all-or-nothing goal is that, when the value of the reward is significant, it can lead to undesirable behaviors when retailers are unable to achieve the goal by honest means. In these cases, retailers may resort to survey manipulation or other gaming behaviors to obtain the all-or-nothing reward.

A tiered structure with different attainment levels and corresponding reward values can help prevent this.

Absolute Goals vs. Relative Goals: Absolute goals are goals that are set before the beginning of the reward period. Relative goals are usually goals that are finalized at the end of the reward period and are based on all retailers’ performance during that time period. Common relative goals are the national average, or the score associated with the top “X” percent of retailers for the reward period.

In general, we recommend use of absolute goals because relative goals cause retailers to “shoot at a moving target.” This can lead to confusion and frustration, reducing program engagement.

While absolute goals are preferred, that does not mean they can’t be set using relative comparisons. Many programs set their absolute goals by using the national average or score associated with top tier dealers from the previous reward period.

Goal Level: How high you set the bar has important implications for people’s effort, and for the success of the program. Ideally, each individual or retailer will have a goal that is “just reachable” – a goal that is high enough so as to stretch them to perform to the best of their ability, but not beyond their reach in which case they may give up and disengage from the program.

Characteristics of the Reward

There are several aspects of the reward itself that you need to consider:

Type of Reward: The most common decision here is whether you are going to offer cash or non-monetary rewards like merchandise or travel experiences. While cash is often used, it may not be the best choice for a number of reasons.

First, it is important that the reward is a “bonus” to the participants, not something that they need to achieve to maintain their business or livelihood. While most people will say they would prefer cash, it can easily become absorbed into one’s personal budget and spent on necessities, thus becoming a need.

When this occurs, it is much more difficult to discontinue a cash-based rewards program because participants are relying on it for their livelihood.

Non-monetary rewards, on the other hand, are perceived as distinctly different from cash and usually deliver greater motivational and emotional value because they represent the opportunity to treat oneself or others with luxury items that might be difficult to justify if purchased. Also, non-monetary rewards usually have trophy or social value whereas cash does not.

Most program participants would be reluctant to tell friends they received a $5000 cash reward, and many would not remember how they spent that reward money a couple of years later. However, tangible items like merchandise and travel experiences provide lasting memories of being rewarded that are socially acceptable to talk about with others or post on social media. This extends the emotional arc of the reward, making it more meaningful and valuable to the recipient.

Amount of the Reward: Obviously, the amount of the reward will depend on your budget and how many winners you anticipate. Rewards need to be valuable enough to be motivating or people will either fail to engage or consider them unfair in exchange for their time and effort. Conversely, the rewards should not be so large that the need to win them triggers undesirable behavior or resentment if they are discontinued.

Timing of the Reward: You also need to determine the time period in which the rewards will be earned. Most reward programs we have seen provide rewards either quarterly or annually. It is particularly important that you set the time period long enough so the vast majority of participants will reach the minimum survey returns criterion.

For those who cannot meet the criteria in that time frame, you may want to find a fair alternative solution so they will not feel devalued.

Program Administration

Program administration is one of the things that will change most if you add a significant reward omponent to your CX program because there will be more scrutiny of scores and more “score chasing”.

Survey Appeals Process: Most CX programs with significant rewards have some sort of survey appeals process, either a formal set of rules or a “one-off” decision making process. For consistency and fairness, a formal set of rules is preferred. Generally, survey appeals should be granted only in cases where egregious survey errors have occurred.  Sending the survey to the wrong customer or having the customer rate the wrong retailer or transaction would qualify as egregious errors.

The remedy for successful appeals should be to remove the surveys in goal score calculation rather than giving “full credit.” Many CX programs set a limit to the number of appeals a retailer can make to prevent appeals from getting out of hand.

“Mulligans:” In golf, a “mulligan” is a free do-over without a penalty stroke. In the CX world some programs allow “mulligans” by dropping retailers’ bottom one to five percent of surveys in a given time period. This is done to hopefully minimize the survey appeals process and to address the common complaint that, “you can’t satisfy everyone.”

Generally, allowing “mulligans” is not a good idea for a number of reasons:

  • It often does not minimize the appeals process. Retailers still challenge surveys in the hopes they won’t count toward their mulligans.
  • Most programs set goals based on national/regional performance across units. For something to truly be a “mulligan”, goal scores need to be set without removing mulligans, but retailer scores need to be calculated while removing mulligans. Otherwise, you are just “raising the bar” by removing mulligans. While necessary, this process can cause unnecessary confusion to the understanding of program rules and thus less participant engagement.
  • All retailers have to deal with unreasonable customers. That’s part of the job and the effects of having difficult to satisfy customers should “wash out” over retailers.

Establish Rules for Survey-Related Behavior: The key to having a CX component in a rewards program is to ensure that the survey responses are in sync with the actual experience and that participants aren’t asking for a rating inconsistent with actual performance.

Unfortunately, when there is a significant reward on the line, many retailers talk to customers about filling out the survey and encourage them to “give me a good grade.” Therefore, you need to set and clearly communicate rules for what behaviors are allowed and not allowed.

Some programs prohibit retailers from even mentioning the survey to the customer. Others allow retailers to inform the customer that a survey will be coming and ask the customer to please fill it out, but that is all they can say. Things that are typically not allowed include: Telling customers they are “graded” on the survey, showing customers a survey with all top-box responses checked, telling customers their pay depends on survey results, and providing incentives for good survey scores.

Program Adherence Monitoring: Most companies that have significant rewards based on their CX programs have processes in place to detect if retailers are attempting to manipulate the results. There are several markers that could indicate manipulation: duplicate customer contact information (e.g., email addresses), retailer domains in the email address, unusually low percentages of valid email addresses, unusually low or high response rates, unusually high number of multiple responses from the same IP address, and multiple responses from the same computer or smartphone.

A best practice in this area is to keep the specific survey manipulation detection methods unpublished to make it difficult for participants to figure out work arounds. However, the general fact that survey returns are being assessed for manipulation should be publicized. Retailers are less likely to try to game the system if they know their company is monitoring results for cheating.

Establish and Communicate Consequences of Cheating: This is where many programs fall short because cheating is implicitly allowed through the lack of consequences for getting caught. If cheating is allowed, many people will not go to the effort to do the behaviors your program is designed to incentivize.

It can also undermine a program by creating a sense of unfairness for the participants who try to earn their rewards honestly. Programs that do enforce cheating rules usually use an escalation approach where the retailer first receives a warning and is given time to rectify the situation. If infractions continue, the penalties usually grow in severity.

Publish a Program Manual: As you can see, you’ll have to establish many program rules and these rules will need to be clearly communicated to the program participants. Many program managers do this by publishing an annual program manual that describes both the rewards and the rules.

Final Points

The primary point we hope you take away from reading this paper is that combining a significant reward program with your CX program is a very big decision that needs to be considered carefully. It is a decision that is usually very difficult to reverse.

Once you start giving rewards based on customer experience, if you decide not to continue to do so in the future, your retailers will likely interpret that decision as, “the company doesn’t prioritize customer experience anymore.” As a result, your customers’ experiences will probably suffer.

Finally, if you add a rewards component to your CX program, your program will likely become much more complicated. Many decisions will need to be made about such things as the ultimate goals of the program, the criteria for inclusion, and how success will be measured and rewarded. You will also need to implement many new rules and procedures to oversee the program.

Overall, a well-designed and well-executed reward program can have a meaningful impact on the loyalty and behavior of your stakeholders.

Financial Services Disclosure Compliance Monitoring

Financial services firms around the world face strict regulations around disclosure compliance and monitoring. For example, the Australian government mandates that financial Statements of Advice (SoAs) include disclosures covering conflicts of interest, own-product recommendations and more. Each disclosure, in turn, may contain a dozen or more sub-components. This adds up to a major burden for the service provider. On average, globally, financial firms dedicate 10-15% of their workforces and spend a combined $270 billion on regulatory compliance annually. New Regulatory Technology solutions can help financial services firms lower the costs associated with disclosure compliance monitoring and reduce their non-compliance risk. Here’s how.

The Costs of Non-Compliance are Huge and Growing

The cost of compliance failure is huge and growing. McKinsey found a 45x increase in regulatory fines and settlements over 5 years. GlobalScape estimates that non-compliance can cost a firm up to $39.22 million in lost revenue, business disruption, productivity loss and penalties. And the Institute of International Financial says compliance can cost a firm over $1 billion per year.

Chart showing the costs of Financial disclosure non-compliance
From Lexalytics’, an InMoment company,AI for Regulatory Compliance white paper

Meanwhile, a 2016 BBVA Research report found that financial services firms are dedicating around 10-15% of total workforce just to governance, risk management and compliance – that number has almost certainly gone up in the intervening years. In the very next sentence, the same report identified “compliance costs” and “reliance on manual processes in data management” as two of the top issues facing financial institutions.

Financial Document Templates Are Great for Disclosure Compliance, But You Have to Go Further

Faced with strict disclosure mandates, many financial firms build libraries of document templates. Each template is “pre-loaded” with all of the proper disclosures and legal language. Each advisor or broker then modifies the appropriate template, such as a Statement of Advice, on a client-by-client basis. As far as reducing non-compliance risk, this strategy is certainly a good start. But it’s not enough on its own.

The problem is that an average-size financial services firm may produce thousands of pages of client-facing documents every week. In the process, important disclosures may be accidentally modified or removed entirely. What’s more, the sheer volume of data and information in each document may obscure problematic or even predatory advice.

Many firms rely on spot-checks and keyword searches to confirm disclosure compliance and ensure that their advisors are working in each client’s best interests. But this process is slow, costly and unreliable.

Consider this: Looking for individual keywords may return hundreds of irrelevant matches littered through a document. Searching for whole phrases may miss where a disclosure has been truncated or deleted. And how can you use keywords to search for bad advice?

Document templates are a start. But you have to go further.

This is where Regulatory Technology (RegTech) comes into play.

Quick Context: What is Regulatory Technology? and Why Do Many “AI for Regulatory Compliance” Tools Fall Short?

Regulatory Technology (RegTech) is a category of systems that help companies comply with government regulations. For example, solutions like NetGuardians help companies with identifying, tracking and managing fraud incidents.

The RegTech market is hot. Between 2012 and 2017, RegTech companies raised $2.3 billion in funding, according to CBInsights. And ComplyAdvantage reports that the automation of due diligence is at the forefront of the RegTech revolution. But they caution that custom-fitting is key. Indeed, our own research supports the idea that one-size-fits-all RegTech solutions are, by their nature, more likely to fail.

The truth is, traditional data analytics tools often can’t handle legal, financial and and medical documents. In short, many RegTech tools don’t have the technology they need to parse the structure and content of regulatory documents. As a result, disclosure compliance systems may leave behind valuable data or overlook important context. (More info in this client story)

Story Time: A Financial Disclosure Compliance Monitoring Solution That Empowers, Not Replaces, Human Auditors

An Australian financial services company came to Lexalytics for help reducing the time they spent auditing hundreds of pages of Statements of Advice (SoAs). Regular contract analysis tools couldn’t be customized to do exactly what they wanted. And costly failures of other large-scale AI systems had made them wary of entrusting millions to one of the Big Tech companies.

So, rather than building a high-cost, high-risk “AI for disclosure compliance,” Lexalytics focused on improving the Australian firm’s existing process.

Chart showing technologies used in Lexalytics' financial services disclosure compliance solution
Lexalytics combined several technologies to build a bespoke financial services disclosure compliance solution

First, we trained our semi-structured data parser to understand the underlying structure of Statement of Advice documents. This included teaching the parser how to identify where sections begin and end, such as Scope of Advice and Duty of Disclosure portions.

Then, we built a custom natural language processing configuration to extract and analyze entities and other text elements. In an SoA, important entities are things like recipients, needs, goals, product recommendations, risk attitude and the actual disclosure statements.

Finally, we built a connector to structure and export the resulting data into a simple spreadsheet. (Then, based on user feedback, we made a few tweaks to how the data is organized and displayed.)

Using this system, the firm’s auditors can see at a glance whether proper disclosures were made across hundreds of SoA documents, and even where an advisor’s recommendations may go against their client’s stated goals and risk attitude. This substantially lowers their time spent on SoA review, reduces their non-compliance risk, and helps them demonstrate disclosure compliance whenever needed.

"Illustrated

(See this other white paper for more on the process we followed for building this “semi-custom” regulatory compliance application.)

How to Build a Better Regulatory Compliance Solution

Regulatory compliance as a field varies by industry, by country, and even by company. This means that every compliance challenge is unique to some degree.

What’s more, the nature of the documents involved in regulatory compliance means that to build an “AI for regulatory compliance,” you need more than just AI. In fact, you need a combination of semi-structured data parsing, natural language processing, and machine learning. (More on why that is in this paper.)

Of course, not every RegTech system will necessarily need all three technologies at the same time. Our financial services disclosure compliance monitoring solution, for example, only uses semi-structured data parsing and natural language processing. (Of course, the NLP itself involves a lot of machine learning.)

Together, these factors mean that traditional data analytics techniques and one-size-fits-all compliance tools will often, by their very nature, fall short.

To really solve regulatory compliance problems, the most important thing is to choose a solution provider who combines the following characteristics:

  1. Has all three of these technologies at their disposal (semi-structured parsing, NLP, and machine learning)
  2. Can demonstrate that they know how, and where, to use them (and when not to use them)
  3. Demonstrates a proven methodology for building a system that’s custom-fit to your unique needs

Feel free to contact us if you’d like to discuss your own regulatory compliance challenges and how Regulatory Technology could help reduce your costs and risk.

What Is the Customer Feedback Loop?

When the focus is on gathering customer feedback, many companies will launch a CX program without a plan for responding to customers. Everyone knows it’s best practice, but it can seem daunting to find a way to close the customer feedback loop. Let’s remedy that with an automated, code-free way to follow up.  Included in this article are screenshot examples of messaging that you can adapt to fit your customer feedback loop needs, courtesy of lead-gen startup and InMoment customer, Albacross.

But before we get ahead of ourselves, it is important to know why closing that customer feedback loop is so crucial.

The customer feedback loop is the process companies use to gather customer feedback and then respond to it by improving some aspect of the business or product. It is a loop because as the company makes improvements, the customers weigh in with feedback on how the improvements are faring. The company then adjusts the improvements to fit the voice of the customer. It is a constant loop of feedback and improvements. 

Customer feedback isn’t always negative, contrary to the connotation. Customer feedback, both positive and negative can give valuable insight as to how the company is performing and where it can improve.

Where some companies get stuck is closing the customer feedback loop. Closing the customer feedback loop is when a company makes adjustments to a product or service based off of the feedback to see to the customer’s needs. Gathering customer feedback is a good step, but it is not worth anything if no action is taken based off the information provided from the customer.

Why is Closing the  Customer Feedback Loop Important?

Why close the loop? There are substantial benefits that come from putting effort into closing the customer feedback loop:

  • Prevent problems – By implementing a closed-loop element into a customer feedback program like Net Promoter Score, you can identify problems before they escalate. Using automation and data analytics, you can recognize recurring themes in customer surveys that need to be addressed to avoid those same problems for future customers.
  • Discover upsell opportunities – Even satisfied customers can have great feedback on how you can improve your product or service. Maybe you don’t offer a product in a certain color, or something on the website is confusing. Either way, there is always room for improvement, and those improvements can become upsells for your customers. 
  • Create and foster long-term relationships – When a customer feels that you actually listen to their concerns and respond to them, they are more likely to be return customers and bring referrals. Every time you acknowledge your customers  for taking the time to provide feedback, you are strengthening  your relationship with them.
  • Retain current customers – studies show that returning customers spend 60% more money on purchasesd and provide more referrals than new customers. It is also 5 to 25 times  more expensive to find new customers than to retain existing ones. By closing the customer feedback loop, you help customers feel more loyal to your brand and come back for more.
  • Avoid customer churn – 89% of customers switch brands after a bad experience with a company if the company does not respond to their problems or complaints.

When you close the customer feedback loop, you set yourself up for success. It may be a daunting task, but automation can really help in keeping your customers happy and the customer feedback loop running smoothly.

Automating the Customer Feedback Loop-Closing Process

If you use Intercom to communicate with customers, you’re in luck. It’s extremely easy to implement a customer experience (CX) program that will close the customer feedback loop with InMoment’s entirely code-free Intercom Messenger Integration and start gathering feedback right in Intercom chat. InMoment’s NPS microsurvey can be integrated with Intercom Messenger with one click and survey responses automatically appear in Intercom user records. This makes it easy to set up automated follow-up messages to survey respondents based on their sentiment. Whether or not you use Intercom and InMoment, you can adapt a close-loop process to your own systems as you handle customer feedback.. 

Lead-gen software startup Albacross recently shared how they were able to swiftly automate a full-cycle NPS program. While the team started out by simply sending NPS surveys through Intercom, they quickly realized the value in closing the customer feedback loop with all of their respondents–detractors, passives and promoters. For Albacross, automating a close-the-loop process took just a few simple steps and the results have been incredible. Albacross has been able to understand its detractors on a whole new level, and they’ve been able to leverage promoters to drive more business. 

Read on for how you can easily do the same. 

Ask Detractors for Product Feedback

Sure, it might not feel great when you’ve received some low scores from valued customers on your customer surveys.. But, qualitative feedback from detractors can become a guiding light for your organization as it chooses what issues and insights it wants to prioritize in closing the customer feedback loop. You should also pay attention to detractors because a low score is often an indicator of customers who are at higher risk of churn. In other words, it’s crucial that you leverage your detractors – there is so much that you can learn from them. And, it’s quite simple – here’s how Albacross automated their messages for detractors: 

For users who rate their app low (0-6), Albacross sends two Intercom messages that ask for additional feedback. The main purpose of asking for additional customer feedback is to start the conversation and gain a deeper understanding of how the customer feels, what they’re struggling with, and why they’re disappointed.

Albacross sends messages via email: 

and via in-app messages that appear immediately after the user completes the survey:

When creating these automated messages, it’s important that you pay great attention to the simplicity and brevity of the message you’re sending out. In this case, Albacross only asks users for a single thing that they can improve to make it as easy as possible for customers to answer.

Ask Promoters to review you on Capterra or G2Crowd

What about all of your promoters? How can you make use of all this praise and admiration coming from your customers? 

Here’s the answer: close the customer feedback loop by getting your promoters to share their experience on online review sites. 

Online reviews are of utmost importance in a buyer’s evaluation process, especially in the B2B world, since these transactions often involve many people and large investments of money. According to a study done by G2 Crowd and Heinz Marketing, 71% of B2B buyers look at online reviews during the consideration stage. In addition, 92% of B2B buyers are more likely to purchase after reading a trusted review. By getting happy customers to share their positive experiences online, your organization can build credibility, improve trust, and increase brand awareness among potential buyers. If you’ve got happy customers, the momentum is already there – it’s now your job to transfer that positive momentum from your surveys to review sites. 

Let’s take a look at how Albacross closes the loop with their promoters. 

For users who give the app a passive rating (7-8), Albacross sends an email of gratitude to let them know that they appreciate the user’s feedback. This is sent via in-app message.

You’ll notice that Albacross’s message is short and sweet, and at the end, they ask their users to leave them a review on Capterra. 

For users who rate the app very high (9-10), the Albacross team sends an email with similar content, but this email is sent from their CEO. 

Closing the Customer Feedback Loop with Automation Leads to Results

Automating your close-the-loop process is guaranteed to uncover invaluable insights and drive high-impact action, whether that’s fixing a common issue for detractors or sending promoters to a review site to share their praise for your product. We cannot stress the value of closing the customer feedback loop enough. 

In the case of Albacross, their efforts in in closing the customer feedback loop and automating their program saw two key tangible effects:

Albacross’s NPS Score is consistently climbing. In just a short period of time, Albacross has more than 2x’ed their NPS score. Anyone with any experience with NPS knows that this is not an easy feat. 

Secondly, Albacross now has a rating of 4.5/5 and 100+ reviews on Capterra. Most of the reviews that they’ve gathered recently have come from promoters who were directed to Capterra from Albacross’s automated Intercom messages. 

So, go forth and close the customer feedback loop with survey respondents. It’s easy when you automate!

For more tips and tricks on closing the customer feedback loop, read our whitepaper designed to help you learn all you need to know to help you make a difference in your company using customer feedback.

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