Voice of the Customer professionals in financial service organizations are focused on gleaning meaningful insights from the feedback you collect from your customers. Despite all that hard work, challenges abound.
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Do any of these sound familiar?
- Your business needs for customer feedback are evolving
- You have no holistic view of your customers’ experience
- Your ability to secure deep, real-time insight is limited
- You have trouble identifying appropriate action
Each one of these challenges seems monumental, but the truth is these challenges are symptoms of a bigger problem: feedback silos
Emerging Customer Feedback Silos
Over the past few years, focus on collecting feedback to improve the customer experience has emerged as a top priority for many that want to differentiate their company. Unfortunately, businesses’ growing need for feedback is facing a strong headwind as customers are increasingly reluctant to respond to surveys. And why is that, you ask? Customers often feel that their efforts are futile as many companies fail to consistently close the loop or make tangible improvements to their business.
The clash between a company’s need for feedback and declining response rates generally leads to an even larger problem: feedback silos. Feedback silos emerge as different departments within a single organization try to “fill the feedback gap” conducting more, often redundant, surveys that apply only to their areas of interest.
Data silos are a common business challenge. But feedback silos represent a fairly new phenomenon, and they make it impossible for your organization to get a clear, holistic view of the customer experience. They impede your ability to take effective action and successfully closing the loop becomes nearly impossible. This challenge tends to be self-perpetuating and obstructs effective differentiation through an improved customer experience.
Download this fact sheet to learn how Confirmit’s flexible, scalable solution eliminates customer feedback silos and mobilizes your team to take action that drives real business results.