How impact analysis can help a business
We were recently faced with a challenge which we rose to in true Ferret style. One of our automotive clients wanted to find out what their customers really wanted from their brand.
Using Impact Analysis, we told them.
Our client wanted to know what at which points of their customers’ journey issues arose and what those issues were.
To get to the heart of the matter, we took customer feedback comments from survey data over a two year period (over 50,000 comments). This cohort was broken down into two areas: sales and service. After all, these are two distinct business functions and as such have different processes and pinch points that we wanted to identify.
To make sense of this large data set, we used Impact Analysis (predictive modelling) to identify the key themes, both positive and negative, that were the key drivers of satisfaction and dissatisfaction for both departments.
Once these key topics were identified, they were over-laid against the client’s own customer journey maps. The impact analysis highlighted many very positive elements in the “initial greeting to purchase” and several negative issues during the “purchase to finish” phases which led to dissatisfaction amongst clients.
As a result of the full analysis, we drafted a list of things the customers expect during the sales and service processes and identified a number of high level priorities for the business to focus on improving. These included communication improvements with the client post-purchase, better internal processes required for busy times at dealerships, and changes to the standards with which sales and service customers are treated – every customer is equally important.
The response from our client to the analysis was overwhelmingly positive:
“I would like to thank you for this work and acknowledge that this report is very clear, concise and valuable to us. The content has been socialised within the business and as such we are using the report findings to streamline our approach in our key customer service and core process strategies.”
Another happy client!
Impact Analysis helps you to prioritise the actions you need to take. Having access to this information allows you to focus on these key drivers, head off negative experiences and carry out root cause analysis to eliminate these issues.
Another key feature is the Defection Risk Score, indicating the likelihood that customer will defect at their next purchase. Ring-fencing these high risk customers allows you to take pre-emptive action to retain their business, from changing services, working on staff behaviours, marketing promotions etc.
For more information on Impact Analysis and how it can help your business, please contact us.