Enterprise feedback management
||It has been suggested that this article be merged into Customer data management. (Discuss) Proposed since September 2012.|
Enterprise feedback management (EFM) is a system of processes and software that enables organizations to centrally manage deployment of surveys while dispersing authoring and analysis throughout an organization. EFM systems typically provide different roles and permission levels for different types of users, such as novice survey authors, professional survey authors, survey reporters and translators. EFM can help an organization establish a dialogue with employees, partners, and customers regarding key issues and concerns and potentially make customer specific real time interventions. EFM consists of data collection, analysis and reporting.
Modern EFM systems can track feedback from a variety of sources including customers, market research, social media, employees, data collection, vendors, partners and audits in a privatized or public manner.
Prior to EFM, survey software was typically deployed in departments and lacked user roles, permissions and workflow. EFM enables deployment across the enterprise, providing decision makers with important data for increasing customer satisfaction, loyalty and lifetime value. EFM enables companies to look at customers "holistically" and to better respond to customer needs.
Gartner projected that 40 percent of total feedback system deployments would be EFM solutions in 2008. Its worth noting that the motivation to pilot/deploy EFM is often to reduce the reliance on (or reduce the costs of) traditional satisfaction research.
Esteban Kolsky, when a research director at Gartner, described the market structure as follows: "The market for these tools is a highly fragmented one, with no single provider. It's going to jumpstart a bunch of acquisitions as larger vendors look to work EFM and surveying into their growth strategy." Since then, technology companies such as Confirmit, Medallia and Satmetrix have received significant backing from venture capital investors.
The EFM market grew 60% to 70% in 2005 and 2006.
EFM applications support complex survey design, with features such as question and page rotation, quota management and advanced skip patterns and branching. The software typically offers advanced reporting with statistical analysis and centralized panel management. EFM applications are often integrated with external platforms, most typically with CRM systems but also with HRIS systems and generic web portals.
Unlike low-end survey tools, EFM applications provides a workflow process with user roles and permissions, so that users may be able to author a survey but require another user to approve it before it is published. Such workflow ensures consistent survey quality and enforces respondent privacy and IT security policies. Applications of EFM vary widely from HR, IT, Marketing, Sales and continues to expand on its corporate implementation and scope. Departments within an organization can collaborate on feedback initiatives, sharing results and gaining insights that enable the organization to listen, learn and react to the needs of their key stakeholders. A key part of the value of an EFM deployment is the development of the business rules (i.e. who needs to see what feedback info) and which parts of the customer / employee / partner facing process needs to be measured.
- Customer engagement
- Business intelligence
- Customer Intelligence
- Customer relationship management
- Customer satisfaction
- Enterprise relationship management
- Customer feedback management services
- Customer data management
- Sources of Feedback for EFM
- How to Improve the Customer Experience
- SDCExec.com - Article - Corporations, Government Adopt Enterprise Feedback Management
- Gage, Deborah (2012-09-26). "Medallia Aims to Improve Service at Big Companies With $35M From Sequoia". The Wall Street Journal. Retrieved 2013-09-23.
- Angry and bored? You must be a customer: finding out what customers really think is a crucial first step toward an improved bottom line. New technology may help. | CFO, The Ma...