Voice of the Customer (CCR BASELINE™)
Five Key Customer Retention Indicators™ form the foundation of the Customer Care & Retention Baseline™ (CCR BASELINE™) Solution.
The key metrics are:
- Business Retention Index™ – A measure of likely customer retention which strongly correlates with renewal and repurchase behavior.
- Business Essentials Index™ – A measure of the seven essential elements of customer service ― the fundamentals for every company to meet customer expectations.
- Problem Experience Profile™ – Shows you where customers experience problems doing business with you and how well your organization resolves problems with the customer experience.
- Customer Advocacy Zone™ – Indicates whether your customers will encourage or discourage potential customers from doing business with you, and why.
- Service Delivery Index™ (SDI™). Because it is custom-built, the SDI™ reflects performance against the specific products and services your organization delivers.
We collect voice of the customer (VOC) feedback via an on-line questionnaire which minimizes the labor component needed to collect customer feedback.
The Priority Action Report™ generated for every participant displays the customer feedback, our Key Customer Retention Indicators™, the Urgency of Action required and the actions to take for this individual.
Equipped with this prescription, and the ability to apply The Platinum Rule®, your team can act quickly to employ customer retention strategies that work. They can capitalize on opportunities to expand your services and your revenues, leverage referrals and remedy discontent for individual contacts.
Daily updates are delivered by email through the Action Plan Tracker™ to remind your team to follow-up.
Our Comprehensive Summary Report provides guidance for improvements across your organization to better serve new customers and retain repeat customers.
The participation rate for the CCR BASELINE™ is about 10-30%, meaning you receive feedback from up to one in three of your customer contacts.
Our satisfied clients often upgrade to incorporate personal telephone contact to capture even greater depth of feedback from more of their loyal customers.
You can see a comparison of the Voice of the Customer (VOC) customer retention programs and the Employee Care & Retention™ Program here.