Customer feedback provides useful information about the health of the customer relationship. Relationship and transactional surveys, commonly used to capture customer feedback, are used to assess and improve that health. While customer feedback metrics provide great value in and of themselves, when used with other types of business data, they can address meaningful business questions:
- Are the customer feedback metrics predictive of future financial performance and business growth?
- Do customers who report higher loyalty spend more than customers who report lower levels of loyalty?
- Where do we set operational goals to ensure we maximize customer satisfaction?
- Does employee training help improve the customer experience?
To answer these questions, companies look to a process called business linkage analysis. Download the free paper here.