“As a result of the information Feedback Ferret provides us with, we have already identified several areas of the business we need to improve upon. We are taking corrective action to deal with these and are looking forward to seeing an improvement in our bottom line as a result.”
Roger Watson, Daisy
Using Business Impact Analysis, we automatically identify the key topics in your feedback that have the greatest impact on your customers. Crucially, this allows you to understand what leads customers to either defect from your brand or to say they would not recommend you in the future. Armed with this information, you can prioritise the actions you need to take to eliminate these issues.
Business Impact Analysis is an automated process that uses predictive modelling algorithms. It can be applied to every Ferret client database, with the results available throughout the Feedback Ferret hosted platform. This helps you focus your efforts where it will make the biggest difference to your customer and reduce your operational costs.
A key feature of Feedback Ferret’s Business Impact Analysis modelling is the defection risk score, indicating the likelihood the customer will defect at their next purchase. Ring-fencing these high risk customers allows you to take pre-emptive action to retain their business immediately, from changing products and services, targeting with marketing promotions to working on staff behaviours.
Another tool available is Feedback Ferret’s predictive scoring of customer actions, such as making standard complaints or the more serious threats of legal action. The ability to see the topics that are causing these damaging outcomes, combined with a customer risk score, is truly powerful.