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Modern CFM: How to Gain Business
Benefits from Customer Feedback
Jukka Hekanaho, PhD and Federico CesconiThis paper is brought to you by: About CustVox
CustVox AG, is a global specialist in Customer
Experience Management (CEM). The company's
high performance solutions are designed to
measure and report on customers point of view,
capturing insights on touch-point-experiences
when and where they occur, and delivering them
continuously in real-time.
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This paper is brought to you by CustovoxJukka Hekanaho, PhD and Federico Cesconi
// White PaperTable of contents
Executive Summary iii
Introduction 01
Definition of Customer 02
Feedback Managemen
The Process of CFM 02
Criteria of Modern CFM 05
A Maturity Model for CFM 08
Conclusion 12
About the Authors: Jukka Hekanaho 13
About the Authors: Federico Cesconi 14
Bibliography 15Executive summary
Customer Feedback Management (CFM) is the 1. Do not overload the customer. Ask only feed-core component of any customer-centric business back which is relevant to customer's situation.
strategy aiming to improve customer experiences. 2. Make giving feedback easy and natural.iiThe purpiose of CFM. is to understand what kind of experiences customers have with the company 3. Build a 360 degree view. All touch points, all and to use this understanding to improve the kinds of customers, and all kinds of situations.
experiences. 4. Collect all types of data, including free text answers and voice recordings.CFM used to mean a static, one-shot,standard market research survey. However, in today's fast- 5. Never discard feedback.
moving, interactive, multi-channel world this gives 6. Produce actionable insights of the feedback.no longer organizations a competitive edge. In-stead, what is needed is a holistic company-wide 7. React to feedback and do it fast. The cus-
practice that captures, analyses, and integrates tomer is waiting.
feedbacks in real-time and over all touch points 8. Use feedback for continuous enterprise im-and customer situations, thus enabling a fast 1:1 provement.response and an effective dialogue with custom-ers. Needless to say, this is not an easy task. 9. Measure and manage the whole CFM pro-cess, especially the outcomes.
To succeed organizations need to build a modern Remember, feedback is a free gift from your CFM practice that satisfies 9 criteria, which col- customer. Use it wisely, show that you value his lectively enable organizations to effectively use feedback and you have already taken the first customer feedback to enhance customer experi- step to improve the loyalty of the customer. Do ences and to improve bottom line: this systematically, on an enterprise-wide scale, respecting the criteria above, to build a customer experience management practice that improves your bottom line through increased loyalty, higher share of wallet, and increased word of mouth.
iii | Executive SummaryIntroduction
Customer Experience Management (CEM) is a Yet although more and more business leaders
phrase which seems to be on the lips of almost seek growth through an increased focus and
every marketing professional. An increasing investment in CEM, most companies are still 01.number of senior managers have CEM on their struggling to turn their CEM initiatives into action-
agenda as a tool to be implemented to improve able business practices, which bring benefits to
customer service delivery and the competi- the company. A more startling fact is that the cus-
tive position of their company. There are sound tomers of many businesses are not noticing any
reasons for the current popularity of CEM. In change in the customer experience. In fact, recent
fact, several recent studies, e.g. (Stratify Group, observation shows that whilst 56% of CEOs do
2010),(Boulanger, 2008) (Temkin, 2009) think their company is customer centric, only 12%
(Zabin, 2008), have shown that increased famil- of their customer base agrees (Hunsaker, 2010).
iarity and intimacy with customers and a better This is just the last observ... [download for more]
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