My last post took a look at Customer Loyalty and how a business can be impacted negatively when loyalty is lost. If you did not read the previous post you can find the contents here: CX Resolutions for 2014: Customer Loyalty
— Oracle CX (@OracleCX) January 16, 2014
The second concept in the image above is Customer Satisfaction (CSAT) this is a strategic key performance indicator (KPI) that every business that is looking at improving overall customer experience, more specifically in the area of retention should be intimately familiar with. I recall reading an Oracle whitepaper back in 2012 titled, “Customer Experience (CX) Metrics and Key Performance Indicators” and thinking, “Wow this would have been really useful when I was a RightNow administrator trying to refine call center processes and enhance the quality of the analytics I delivered.”
The paper explains that there are three CX practice areas that businesses should draw KPIs from, these include acquisition, retention and efficiency.
Retention focuses on how organizations keep their customers, to reduce churn and to increase their life-time value.
Customer Satisfaction is the mean satisfaction score of customers for a given experience.
Notice how closely satisfaction is tied to loyalty. I am starting to develop a picture in my mind of machine with interlocking gears, coils and sprockets. However it is not yet clear if they are turly dependant on one another.
Every year Gartner and 1 to 1 Media give away awards at their 360 summit to businesses with a commitment to the innovative design and delivery of superior customer experiences at all points of interaction. This is demonstrated by significant improvements in customer satisfaction, loyalty and advocacy. Every year several businesses with RightNow implementations manage to secure an award or two.
RightNow has the ability to send transactional, by proxy and proactive surveys, comes equipped with many standard reports dedicated to understanding CSAT and has a robust suite of social monitoring and engagement tools. In May 2013 Gartner positioned RightNow as a leader in Magic Quadrant for the CRM Customer Engagement Center. According to the report, “the blend of social media engagement with CRM software is evolving the contact center into the customer engagement center. Gartner’s 2013 CRM customer engagement center Magic Quadrant looks at vendors that respond to the challenge of any channel customer service engagement”.
This is a testament to the strength RightNow offers in areas of customer satisfaction. In early 2012 it was a strategic acquisition by Oracle to boost its SaaS portfolio for good reason. With the development capabilities and budget that Oracle has and will continue to put into scaling RightNow I do not foresee it moving out of the leader position any time in the near future.
February release is only weeks away from being available. Be sure to read up on all the latest RightNow specific information at: http://www.oracle.com/us/products/applications/rightnow/overview/index.html
If you are interested in learning more or have questions feel free to reach out to me at email@example.com
eVerge Group is an Oracle Platinum Partner with extensive experience. For more information about Oracle RightNow CX and our other business solutions, contact us through our website: http://www.evergegroup.com/contact.php
About the author: Rhianna Albert (Just Rhianna) has an extensive background in customer support systems and processes, is an active member of the CX community and has been implementing and integrating RightNow solutions for seven years.