Read this very interesting case study on proving the ROI of customer accountability in action; by focused surveys > feedback to managers > real-time alerting > follow-up.
By gathering rich customer information, creating a disciplined follow-up program, and documenting results, Walker helped this Fortune 500 global manufacturer in the self-service industry, generate a forecasted return of more than $148 million on their voice-of-the-customer program.
To create greater customer focus and deliver on their promise to help their customers succeed, they aligned an initiative called “Customer Success” with their newly launched branding campaign.
One of the key roadmap items for the first year of their program was to engage account managers in the process and build in accountability for owning customer relationships and responding to customer feedback. To accomplish this goal, they partnered with Walker to implement a close-the-loop management system.
This system was comprised of the following components:
• Strategically focused surveys developed and issued to their top 300 customers
• Feedback routed directly to account managers
• Real-time alerting of customer opportunity and risks
• Detailed communication and training plan to ensure account managers were set up with the tools they needed to successfully put their customers’ feedback to use
• Easy to use documentation system, allowing account managers to record the result of the follow-up activity conducted with their customers
The communication and training plan was essential in securing buy-in from account teams. The training plan was designed to be easily accessible and was offered in two different methods, to ensure that all account teams could be reached. Six in-depth training sessions were hosted by Walker and facilitated through their company’s online course university. During these sessions, Walker consultants guided account teams through the background and training content necessary for them to be successful with this program. The second method was to host all training material on their company’s online university. With this method, training materials were designed to be interactive in nature and allowed a user to review the material online in modular courses.
What was the result?
Ninety-eight percent of follow-up activity was completed by account teams in just the first wave. In addition to the strong participation rate, this company was able to generate a compelling ROI statement for their organization. As part of the documentation system, account teams were asked to estimate how much revenue was either saved or created as a result of the follow-up alert
and subsequent conversation. When these estimates were tallied up, more than $80 million in new opportunities and more than $67 million in saved revenue was identified. This proves to be a significant return on investment for this leading manufacturer.
Not only did they deliver on their pledge to help their customers succeed, the program created significant interest and “buy-in” within the company. Based on this success the program is being
replicated and rolled out to other divisions in the company.
Source: Courtesy of Walker Case Study
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