The existing industry was competitive and mature, leading to difficulty in gaining market share. This business wanted to do more for its employees and customers, while still remaining true to its innovative roots.
The company created “Vision 2020” to identify the key strategies essential to their continued growth. One of the areas of impact and what they wanted to be known for was “delivering superior customer support.”
A national manufacturer was in a competitive and mature industry where it’s hard to gain market share. There were significant doubts and uncertainty as to how to grow in a way that didn’t alienate customers and employees.
The company knew they had premium brand positioning in the market, but needed research to continue to maintain competitive advantage and drive innovation to keep the company healthy and growing.
Our full national customer experience feedback process, with telephonic calls to over 4,000 customers annually, determined which dealers were performing best, which ones weren’t and what customers really want from their experience.
Using the data, we collaborated with the client to build a customer experience map - with customer insights at each touch point - identifying how employees can create an excellent customer experience.
Since the inception of the program over 7 years ago, this client has seen a 16% increase in NPS, a 38% decrease in customer issues and grown YoY profitability by 26%.
The old adage about only hearing from your happiest and angriest customers is true - unless you go and ask them yourselves. Having a strong customer listening program gives companies the opportunity to capture the rich feedback that some of your best customers won’t volunteer. It also gives you an opportunity to reward your high-performing employees and appreciate the customers that are your best partners.
One of the most effective components of a customer voice program is the opportunity to capture new leads in addition to feedback. We see PATH VoC program drive double digit growth for organizations through additional parts, service and product opportunities identified in our telephonic research.
The customers that are most frustrated by issues are usually the ones that expected the most from their relationship with you. Solving whatever issue they had in the experience is a powerful way to transform some of your biggest detractors into your best promoters.
The best source of new business is through current customers. By retaining customers, extending the business they do with the company and referring others, growth is organic and long-lasting. The challenge is - what do customers really want? What type of experience will make them choose you over your competition every time? Answering these questions requires data - not just an internal perspective. Through a robust customer experience feedback process, the companies can use data to evaluate the value they provide their customers, make sure they’re solving problems when they happen and identify common trends in complaints in order to resolve those issues. Having a balanced scorecard metrics that are both transactional (point in time) and relational allows the company to understand customers and the market better than competition and turn that into action to drive growth long term.
