Voice of the Customer.

Things have moved on quite a way from the days of customer satisfaction tracking.

Customers and non-customers are talking about brands on social media platforms and it has become increasingly important for companies to understand what is being said about them. It has provided companies with the opportunity to identify areas for improvement, come up with new product or service ideas and also manage negative perceptions and communicate with different audiences. Sadly most companies track customer satisfaction from month to month without really knowing how they can use it to increase sales.

At RedRoute helping you to increase sales and profitability is at the heart of everything we do.

In order to help you achieve this we combine customer satisfaction tracking with data from social media platforms (Twitter, Facebook, blogs, forums and so on) as well as your sales data (or other company data).

RedRoute Customer Satisfaction Tracking

In the first step

Research gathers data on attitudes (values) and customers’ circumstances (e.g. how far they travel to your store, the number of cars they own, where they’ve been on holiday and so on) that will help us to populate our unique and powerful 5-driver model and understand customers/non-customers “Effective Net Preference” (ENP) that each activity is generating for your brand amongst your target customers. The research provides us with attitudinal and personal circumstance data that we know affect customer behaviour.

The importance of each of the components of our unique 5-driver model can vary by company. What we know, however, is that at the level of the individual consumer, there is a direct correlation between the ENP score your company achieves and your share of wallet. This is invaluable information in planning all company activities and maximising ROI.

In the second step

We use company sales data, share data and the like to build powerful predictive models that tell you exactly what you need to do in order to increase sales / profitability. Tracking this then enables us to evaluate the changes made in your organisation and the effect it has on the ENP score. We’ll be able to tell you for the change in ENP what the corresponding increase in sales will be.

Social media data from Tweets, Facebook and other social media platforms then further enhance the predictive power of the models by providing additional information on your most current circumstances and attitudes.

Circumstance data on social media is anything that defines your current situation: a Tweet that says you have just booked a trip; a Facebook page that describes your recent holiday; all of these are factors that indicate your current situation.

So how exactly can you use this?

By combining data from surveys on opinions on prices, promotions, concepts and so on with observed metrics such as the past take-up of promotional offers or the types of places customers/prospects like to go on vacation, we are able to create “Values” scores for their likelihood to be interested in particular offers and propositions – including the likelihood to use particular companies, brands or outlets.

"Effective Net Preference" (ENP)

We then combine this mix of attitudinal and circumstance information to derive an overall “Effective Net Preference” score (ENP) for each customer/prospect that tells us how likely they are to be interested in using the goods/services you are offering at this point in time, and in the future.

RedRoute Effective Net Preference

What’s more, because the models are built using behavioural drivers, we can then tell you what would need to change, and by how much, in order to increase that likelihood. So you can see how the offer would need to change, and by how much, in order to be suitable to meet your current needs, circumstances and attitudes. It is a very powerful and effective technique.

If that sounds better than simply monitoring customer satisfaction and social media separately why not give us a call on +44 (0) 20 7917 6042