Over the last 5 months we’ve looked at how to develop and implement a client feedback programme from introduction to action. Let’s assume that your programme is complete: what now?
Measure and Benchmark
In part 1 we stressed the importance of having a clear, compelling reason to undertake a feedback programme – something you could express in a sentence. That reason has carried you through getting engagement from your stakeholders, collecting the information you need, and taking action as a result. Now’s the time to reflect on what you intended to achieve at the outset, and see how the real outcomes measure up. Here are a couple of examples.
- Were you hoping to reduce the level of client terminations? How does your monthly termination rate now compared with the rate a year ago? What action has been taken to secure client relationships for the future?
- Were you hoping to sell deeper into client relationships? How much additional revenue is in the pipeline from existing clients now, compared to a year ago? How have client handlers changed the conversations with their clients to achieve these Improvements?
This will give you an initial sense of the ROI of your feedback programme, clarify how much more work there is to do, and establish benchmarks for future client feedback.
Taking the time to step back will also allow you to assess the overall picture emerging from the feedback, above and beyond actions on individual clients. How will what you have learned affect the strategy for your business? How does this affect the RoI? Who else needs to be taking action?
And of course, when you ask openly for feedback, you may get something unexpected. What surprises emerged from the feedback, good and bad? How have they affected your intention and outcomes?
Build on what you have achieved, and think about your next programme of feedback. What value could it bring next time?