Quarterly Newsletter                                                                           September 2012  

Vol. 2, Issue 3     

 

Satrix Solutions Customer Feedback Programs

Greetings!

    

I hope you had a wonderful summer either enjoying some time off or just relaxing with friends and family during those extra hours of daylight.

Now that the fourth quarter is just a few weeks away, many of our clients are identifying priorities for 2013 and engaging in strategic planning and budget discussions. What is particularly gratifying for us is the degree to which the insights and recommendations we've delivered are being used to help inform critical business decisions.

We have long advocated for incorporating an "outside-in" component in the decision making process. That is, considering input from existing, potential and even former customers when deciding on resource allocation and focus areas. This is why our Perception Audit services are a strong compliment to your annual strategic planning process as it benefits nearly every department in the organization.

My team and I take great pride in being the conduit for such valuable (and actionable) feedback that helps our clients differentiate from the competition. If you would like to learn more about how we can help during your annual strategic planning process, please do not hesitate to contact me directly at evan@satrixsolutions.com or 480.773.6120.

Introducing Employee Net Promoter Score� (eNPS) to Measure Employee Satisfaction    

Would employees recommend your company?

The number of organizations embracing Net Promoter Score (NPS) as a means to gauge customer loyalty continues to rise. In fact, nearly every company we work with uses Net Promoter Score as part of their ongoing feedback efforts.  Why has NPS become such a popular metric among savvy business leaders?  It offers a straightforward metric for everyone to understand and rally behind and allows our clients to easily measure the changes in their customer relationships over time.      
 
I've often discussed the linkage between employee satisfaction and customer loyalty. What we know is that satisfied employees tend to be more productive, which means greater service value for customers. This increases customer satisfaction and loyalty, which stimulates profitability. Therefore, measuring employee satisfaction is critically important. 

There is now a new chapter in the Net Promoter System and it's called Employee Net Promoter Score or eNPS.  Companies like Symantec and Rackspace have recognized it as a useful tool to measure loyalty among employees. As with NPS, eNPS offers many benefits, including:
 

  • Arming management with the data needed to improve the employee experience
  • An easy to understand key performance indicator to monitor employee satisfaction  
  • Reducing employee turnover by pinpointing dissatisfied employees
  • Identifying attributes affecting employee engagement and which improvements offer the best pay-off in increased employee satisfaction      

There are many similarities between NPS for customers and eNPS. As with NPS, the basis for eNPS is one question, "On a scale of zero to ten, how likely is it that you would recommend this company as a place to work?" We then calculate your score to segment employees into the three familiar Net Promoter categories: Promoters, Passives and Detractors.  This allows your management team to quickly identify and address employee "dissatisfiers" that may negatively impact the customer experience.

It's important to recognize that when given the opportunity to share candid feedback anonymously, employees can be  fairly outspoken. Therefore, it is not unusual for eNPS to be lower than your customer NPS. And, as with NPS, it's what you do with the knowledge that matters most. Communicate with employees that you value their honest opinion and share your action plan after the results have been analyzed. And remember, keep your employees 'in the loop' when you implement any changes that stem from the Employee Net Promoter Score survey.  

 

We are now pleased to offer eNPS surveys to our clients. Contact us to learn more.      

The Art of Following Up on Customer Feedback
Lessons Learned in the Moving Truck
By: Heather Timney, Director of Marketing Communications, Satrix Solutions
Recently, a colleague of mine moved across town into a new home. As we talked about his experience with the moving company, we both marveled at how positive his experience had been. After all, both of us had heard the horror stories about movers breaking valuables and holding furniture hostage in hopes of a greater payout.

Luckily for him, his move was uneventful. They neatly packed up his belongings and unloaded them efficiently into his new home. Just before the movers left they asked if he would complete a customer satisfaction survey and share his feedback on the overall experience - of course he happily obliged. His only complaint was that he could have used their help setting up some of the heavier items such as the bed and entertainment center.

Not long after the last box was unpacked he received a follow-up phone call from the moving company: they wanted to discuss his feedback. As he talked in detail with the supervisor about his experience, it was revealed that the company was making changes to their policy based in part on his feedback - offering setup assistance with certain larger items.

As voice-of-the-customer (VoC) advocates, we appreciate when an organization "walks the walk" by illustrating their willingness to embrace customer-driven improvement. Communicating with customers on how their feedback will be used to influence future experiences is where true customer-centric organizations shine.

Closed-loop feedback is critically important in any customer feedback program. As with the case of the moving company, adopting a systematic, closed-loop follow-up process validates your unwavering support to customers. Not only is this an opportunity to discuss the survey responses in detail, it also builds credibility, loyalty, and trust among your customers.

Having a closed-loop feedback process doesn't mean you need to implement every single suggestion. It's about learning how each customer touchpoint affected the client and discovering new ways to deliver an exceptional service experience.

Since his experience, my colleague has now referred the moving company to several of his friends and even posted an enthusiastic review on Yelp. Now, that's the power of a memorable customer experience!
Satrix Solutions Update
As I previously announced, we are rebranding our firm with the help of Struck, a digital-forward creative agency. This has been a particularly exciting time as I think about our journey over the past few years and how our new brand represents the next phase in the evolution of Satrix Solutions. The new logo signifies our strong partnership with clients and the roadmap we take to help them create a customer-centric culture:
 


The time has also come for our website to get a facelift. The goal of our website redesign is to have an easy to use, visually appealing site that educates and informs our visitors on the power of customer feedback. Stay tuned as more announcements will be made in the coming months.  

With so much evolution occurring at Satrix Solutions it is the perfect time for us to survey our own client base. We can't wait to hear your feedback and suggestions so please keep an eye on your inbox for an invitation to the survey.

Finally, I'd like to personally welcome several companies that have joined the ranks of the other customer-centric organizations in our dynamic and forward-thinking client roster: Ipreo's Research, Sales & Trading division, Struck, RIO SEO and EffectiveUI. Our goal is to help them maximize customer lifetime value and establish a true customer-centric culture. Thank you for having us on your team.

Sincerely,


Evan Klein
Founder & President
Satrix Solutions
evan@satrixsolutions.com 

Direct: 480-773-6120

Cell: 623-229-1414
www.SatrixSolutions.com 

 

�Net Promoter, Net Promoter Score and NPS are registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld

 

In This Issue
Introducing Employee Net Promoter Score® (eNPS) to Measure Employee Satisfaction
The Art of Following Up on Customer Feedback
Satrix Solutions Update

Quick Links


 Check Out Our Recent Tweets:   

 

Employee engagement & customer loyalty are intertwined:  http://bit.ly/PH1vMr  

 

Another reason to ensure clients are advocates for your business - they may help you raise capital some day:  http://bit.ly/N1xpFc   

 

Top CEOs share their best practices for exceptional customer service: http://onforb.es/Nfjv1t  


 ClientNewsIn the News:  

    

Innovative Creative Agency, Struck, Partners with Satrix Solutions to Manage Their Client Feedback Initiatives: 
 http://t.co/XP0igi05     


    Evan Klein of Satrix Solutions Explains The 5 Customer-Related Metrics Every Organization Should Track with 1to1 Media:  http://bit.ly/MFJwJY      

 

Increased Market Demand for Ulthera's Ultrasound Platform Fuels Installation of 1,000th System Worldwide:  bit.ly/NxshKy    

   

 POP Shares Impressive Art Collection with Seattle Magazine: bit.ly/Px1daS    

 

Satrix Solutions Helps Drive Growth at Covario:

http://bit.ly/MpCZSh     





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