1. How Getting Client Feedback Leads to Revenue Retention & Referrals
October 8th 2016

2. Agenda 1. Identify your Customers 2. Review What Customers Want
3. Best Practices for Getting Feedback
4. Put Feedback to Use
Customer Experience is now more important than ever – and that also makes it overwhelming for a lot of businesses, especially small businesses. Today, we are going to briefly cover 4 components to managing your customers lifecycle – 4 things that if you don’t do anything else, will be good things to understand at your company.

3. About me 1. 20+ years in Customer Experience
2. Part consultant, part detective
3. I take surveys for fun
4. 49th State in my 49th Year
I have been a part of customer service/customer experience for a long time. Currently, I am director of customer experience for Change Healthcare. My previous leadership experience has been at 2 other Nashville companies – I spent 8 years at XO Communications and 8 years at Asurion.
I am constantly reading and learning about trends in CX and applying it to my clients and my job. I consider myself part detective when I uncover what is wrong with the customer experience and advise how to fix it.
My last 2 12th & Broad articles got picked up by the online version of The Tennessean which is cool, and I have also been published in NBJ.

4. “A brand is no longer what we tell the consumer it is
“A brand is no longer what we tell the consumer it is. Its what consumers tell each other it is.”

5. Understanding the experience becomes even more important
Consumers are making purchasing decisions based on the experience they have as your customer. Wow. By 2020 – which is only 40 months away – it will be the customer experience that matters only.
So let’s get you ready to be on the winning side of this equation!

6. Here’s a Secret
Define the Customer

7. Who are your Customers?
The definition of customer is broad. A customer is anyone who you interact
with - in your business, in your organization, while building your business –
member, donor, a vendor, coworker

8. What do they Want? Vendors – are you easy to do business with
Lawyers – do you keep commitments, get work done on time
Clients – can vary, let’s discuss
Community – do you give support, have a good reputation
The definition of customer is broad. A customer is anyone who you interact
with - in your business, in your organization, while building your business –
member, donor, a vendor, coworker

9. Here’s a Secret
Capturing Feedback

10. When during the customer lifecycle is best for gathering feedback?
Customer Mojo
When during the customer lifecycle is best for gathering feedback?
Vendors – An annual outreach to measure the relationship
Lawyers – After a case or interaction that you were involved in
Clients – At least once a year, at the discretion of the firm
Community – After an event, sponsorship
When else?
Convenient means being available, having multiple ways to get in contact with you, using technology to communicate
Attentive – active listening, anticipate the problem before they tell you, empathy
Fair – when something goes wrong, provide a fair resolution – more about that later
Thankful – Thank You are the 2 most underused words in business and I want to change that – you should find ways to Be Thankful to customers - always

11. Here’s a Secret
Feedback Methods

12. Methods for getting feedback
Surveys - $
Comment Cards - $$
Customer Forums - $$$
Focus Groups - $$$$
We need information & opinions from customers
throughout their lifecycle – some ways are better than
others. Surveys – just because they are free, doesn’t mean you can create a good one
“Give me a chance to tell you about me” – this is a feeling during the customer lifecycle.

13. Match the Method to the Customer
Surveys -
Comment Cards -
Customer Forums -
Focus Groups -
We need information & opinions from customers
throughout their lifecycle – some ways are better than
others. Surveys – just because they are free, doesn’t mean you can create a good one
“Give me a chance to tell you about me” – this is a feeling during the customer lifecycle.

14. Monitoring Social Media – do any of you do it?
There are 1MM tweets a week about Customer Service
80% of those are negative
24% of people have posted on line about a product or service
News of bad customer service reaches more than 2X the ears as praise for good service
Your customers have a megaphone, but so do the customers of your competitors. Checking in to see what your competitors customers are saying about them is a free and easy way to avoid problems that may come your way and see what they are doing well – so you can replicate it.

15. Use their feedback

16. Data is King (if you ask the right questions)
Provides understanding of what you do well
Guides where improvement is needed
Shows potential for referrals & growth
Can convert into WOM economics
I believe this. I have read about it – there actually is some science behind it, but I also have realized this first hand having lead work teams of up to 30 people, if you create an environment of empowerment and trust, you will be surprised how it will impact the engagement of your employees.
Employee Engagement – their emotional
commitment to the company – drives a
higher level of discretionary effort
Satisfied employees are -
Motivated employees
Empowered employees
Have high energy
Have a willingness to give good service

17. The Right Questions Employee Engagement – their emotional
I believe this. I have read about it – there actually is some science behind it, but I also have realized this first hand having lead work teams of up to 30 people, if you create an environment of empowerment and trust, you will be surprised how it will impact the engagement of your employees.
Employee Engagement – their emotional
commitment to the company – drives a
higher level of discretionary effort
Satisfied employees are -
Motivated employees
Empowered employees
Have high energy
Have a willingness to give good service

18. The Right Questions Employee Engagement – their emotional
I believe this. I have read about it – there actually is some science behind it, but I also have realized this first hand having lead work teams of up to 30 people, if you create an environment of empowerment and trust, you will be surprised how it will impact the engagement of your employees.
Employee Engagement – their emotional
commitment to the company – drives a
higher level of discretionary effort
Satisfied employees are -
Motivated employees
Empowered employees
Have high energy
Have a willingness to give good service

19. Referrals and Revenue

20. Net Promoter Score P – D = NPS
% of Promoters – % of Detractors = Net Promoter Score
Passives are not included in the calculation
Based on your experience, how likely are you to recommend us?
It is important to have a metric that your company can rally around/measure as a sign of success. I prefer Net Promoter Score. Fred Reichhold from Bain – 10 years ago. The goal was to measure & understand behaviors of loyalty and through years of research and looking at satisfaction ratings, retention percentages, profitability numbers, they found that Recommending a company was the clear sign of Loyalty.
This is how Loyal customers behave:
Buy more from them
Continue to do business with them
Tell friends/family about them
And these actions lead to: revenue, profitability, satisfaction
Definitely will not recommend.
DETRACTOR
8 - 7
6 - 0
Definitely will recommend.
PROMOTER
Probably willing to recommend.
PASSIVE
10 - 9

21. 3 Customer Segments
Promoters: customers who are so enthusiastic about a firm or brand that they not only increase their own purchases, but also refer their colleagues or friends.
Passives: satisfied but unenthusiastic customers who can be easily wooed by the competition (next shiny object)
Detractors: customers who feel so badly treated that they cut back on purchases, switch to the competition, and warn others to stay away from the company.
Promoters spend more, tell folks about you
Passives will leave without telling you why, and if there is a coupon/discount
Detractors utilize more of your resources and time

22. Word of Mouth Economics
Promoters: Promoters account for roughly half of a new customer acquired through positive word-of-mouth.
Detractors: Detractors cost a business 0.84% of a new customer through negative word-of-mouth.
Promoters spend more, tell folks about you
Passives will leave without telling you why, and if there is a coupon/discount
Detractors utilize more of your resources and time

23. Recap 1. You have many Customers 2. Customers want different things
3. Pick the feedback method that works best for your organization
4. Leverage Promoters
5. Fix what is broken
Customer Experience is now more important than ever – and that also makes it overwhelming for a lot of businesses, especially small businesses. Today, we are going to briefly cover 4 components to managing your customers lifecycle – 4 things that if you don’t do anything else, will be good things to understand at your company.

24. Questions?
I believe this. I have read about it – there actually is some science behind it, but I also have realized this first hand having lead work teams of up to 30 people, if you create an environment of empowerment and trust, you will be surprised how it will impact the engagement of your employees.

25. Let’s stay connected! @askyourcustomer www.listenlearnlive.org
Facebook/listenlearnlive
Monthly newsletter
There are 1MM tweets a week about Customer Service
80% of those are negative
24% of people have posted on line about a product or service
News of bad customer service reaches more than 2X the ears as praise for good service
Your customers have a megaphone, but so do the customers of your competitors. Checking in to see what your competitors customers are saying about them is a free and easy way to avoid problems that may come your way and see what they are doing well – so you can replicate it.