Hear Ye, Hear Ye, Tell All About It

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					                                                                                                                     Insight
REQUIRED READING                                                                                 Owen: It [disrupts] a comfort level and
                                                                                              perhaps even complacency that compa-

Hear Ye, Hear Ye, Tell All About It                                                           nies give into because they think cus-
                                                                                              tomer satisfaction is important. Metrics
                                                                                              matter. If you’re…reporting 90 percent




T
           he relationship between satis-        All of a sudden everyone’s interested in     customer satisfaction, what you’re inter-
           faction and loyalty may be cor-    [customer satisfaction and retention]. The      nally thinking is, “We’re doing fine.” It’s a
           related, but according to the      problem is if you haven’t been interested       shock to learn that that’s more or less
           authors of Answering the Ulti-     in this topic for the last three, four years,   irrelevant [now that] your Net Promoter
mate Question—Richard Owen, chief             you’re probably not going to be able to         score is much lower because you’re not
executive officer at Satmetrix, and Laura     suddenly decide, “Oh, wouldn’t it be nice       creating Promoters. You’re not as good as
Brooks, the company’s vice                                 if our customers liked us?”        you think you are.
president of research and con-                                CRM: Are these companies           CRM: How does answering the “ultimate
sulting—the correlation doesn’t                            beyond repair? If so, how can      question” change customer service?
imply causation. Solving a                                 they benefit from the book?           Owen: Historically, service has been
problem on a one-off basis may                                Owen: Companies that have       disconnected from marketing in terms of
save you from a blogosphere                                a strong commitment and            measurement. That’s a mistake. How you
thrashing one day, but the                                 good practices already in place    measure the effect—from a customer
momentary relief doesn’t com-                              will recognize that they have to   perspective—of your service opportu-
pare to the security of a devoted                          dial it up and raise their game    nity is usually a leading indicator of the
(and vocal) consumer. CRM’s                                significantly. There’s always      overall health of your customer loyalty,
Assistant Editor Jessica Tsai spoke with      going to be something to learn…and              brand, retention, [and] upsell metrics.
Owen about how a single question could        sometimes just reaffirmations are helpful.      We’re trying to solve one of the longest-
save your company.                               For the group that’s suddenly woken          standing problems in the service organ-
   CRM magazine: Especially given today’s     up, [this] is a perfect time to read the book   ization: Service is an asset to the com-
economy, service is critical. Are companies   because you can put the right emphasis          pany and not just a cost.
acknowledging this impetus for change?        [that will] result in your program being           In a service environmen
				
DOCUMENT INFO
Description: In an interview, Richard Owen, CEO, Satmetrix, talked about how a single question could save your company. Growth that's built on sand, whether it's financial instruments or bad profits -- they all sort of intuitively knew it would come back to haunt them. Companies that have a strong commitment and good practices already in place will recognize that they have to dial it up and raise their game significantly. Historically, service has been disconnected from marketing in terms of measurement. That's a mistake. How you measure the effect -- from a customer perspective -- of your service opportunity is usually a leading indicator of the overall health of your customer loyalty, brand, retention, and upsell metrics.
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