Enterprise Feedback Management Systems: A Quick Overview
An Enterprise Feedback Management (EFM) System centralizes external and internal feedback into one, time-saving platform, increasing the accessibility and simplifying the usage of valuable customer data across entire organizations.
EFM Systems provide companies with a comprehensive overview of their current business performance in real time, enabling them to immediately act on customer feedback and truly excel at the customer experience. In addition, EFM Systems reliably record the real Voice of the Customer, helping companies stay on top of the constant stream of information across differing media.
The numerous data analytics features provided in an EFM System are especially beneficial for large-scale organizations with numerous locations, branches, stores, restaurants, or subsidiaries, as they enable insightful cross-company comparison as well as overall performance evaluations. The flexibility and scalability of the Spectos EFM System provides a simple, yet detailed overview of everything busy managers and on-the-go CEOs need to know about.
Our approach to an efficient EFM is built upon on the principles of Six Sigma DEFINE – MEASURE – ANALYZE- IMPROVE – CONTROL
Define relevant performance indicators for your organization
Different businesses and industries define success in different ways. To objectively and reliably measure business performance, it’s essential to create your own definition of success and to find an EFM System capable of integrating that definition.
Ask yourself which topics are most important to you and your business. Overall customer satisfaction? The quality of customer experience in your brick-and-mortar stores? The customer journey on your website and/or online shop? Employee satisfaction? The relationship between contractors or franchisees and your company headquarters?
Once you’ve developed your own definition of success, you’ll automatically discover which processes, projects, and touch points you need to be measuring. Together, these factors represent the “Voice of the Customer” – the most important measure of success there is!
Achieve the best results by focusing your efforts on measuring the performance indicators most important to your business.
Measure your performance indicators by collecting feedback across all channels
Companies even somewhat familiar with the feedback collection process know how difficult it can be to contact and convince customers, employees, and partners to take the time to fill out a satisfaction survey.
An EFM System supports the smooth transition from a push to a low-maintenance pull method, making feedback collection an integral part of daily business operations by offering participants the convenient opportunity to submit valuable feedback whenever and wherever they please. This new and innovative approach secures companies more feedback than ever before by incorporating key touch points across the entire organization into the improvement strategy, including websites, social networks, email addresses, hotlines, and even in-store representatives.
To achieve a higher response rate, implementing a direct, immediate, and on-the-spot surveying method at each touch point is crucial for immediate and continuous feedback collection. Response rates can be additionally boosted by simplifying the feedback process for your customers, achieved by using feedback terminals or tablets to capture customer data, and by allowing participants to use their own smart phones to fill out surveys.
Keep it smart and simple – create short, straight-to-the-point feedback forms that customers will want to fill out.
Track the long-term development of results/trends and compare to archived data
Data collected with an EFM System can be used to draw actionable conclusions and extract knowledgeable insights from each touch point, making targeted improvements possible for even better service quality and business performance across the entire organization. Automatic analytics features evaluate and represent the data according to custom-defined key performance indicators in real time for instant improvements.
So-called scorecards are created for each individual touch point or location, all of which are shown on the intuitive Spectos Dashboard along with satisfaction charts and trend evaluations. Thanks to the live evaluation of data, former grey areas become transparent, enabling you to take action right away.
Incorporate responsible employees and departments in the improvement process to achieve the best results. EFM Systems provide the highest level of availability and enable the invitation and assignment of roles for improved collaboration.
Effective Enterprise Feedback Management includes making data, analytics, and reports available to everyone in the organization.
Improve performance by taking action to simplify daily business operations & processes
By making daily data accessible to all of the stakeholders in your organization, the EFM acts as a vital platform for improvement. Employees can immediately see how well they perform based on customer comments and feedback. Integrated collaboration tools in EFM Systems are also useful for internal communication, enabling you to directly assign to-dos to the people or departments in charge. The internal ticket system helps you take the customer experience to the next level and is another great source of analytics for continuous improvement.
However, the results an EFM System provides are only as beneficial as the measures taken to improve the organization’s performance. An increase in total profit and repeat customers is achieved by delivering a better customer experience, which results from higher employee motivation and the improved collaboration with partners and suppliers.
Collaborating on results is key to continuous improvement.
Systematically monitor performance with live alerts to quickly recognize escalating situations
A great advantage of the EFM System is the ability to continuously monitor and steer data. Once custom indicators have been set, the EFM acts as an automatic alarm system for the entire organization.
If certain indicators sink below a determined boundary, the system automatically sends out a notifaction to the right people, enabling them to solve the problem as quickly as possible and giving you more control of the organization’s performance.
Better controls for better results.
E-book: How to improve service quality through enterprise feedback management
Learn how successful franchise business models use the Spectos EFM System to monitor business performance across 100+ locations