Proven
impactof close-the-loop and other initiatives
3
touchpoints impacted the most by improvements (9% increase on average)
16 mln
revenuesaved by improving experiences for wholesalers on 1 market only
The Business Problem
In 2019 Signify digitized their B2B CX program, driven by the changing B2B environment and customer expectations. All key aspects underwent the digital transformation – feedback collection, insights reporting and logging of improvement actions. This process unlocked an unprecedented scale and speed of customer insights.
Then the company started seeing the first signs that initial excitement was wearing off. NPS growth was slowing down, and response rates in some markets were decreasing. Signify was challenged to preserve the program’s function as a genuine tool for inspiration, internal culture transformation and continuous improvement.
Our Task
They needed a solution that harnesses the “collective wisdom”, already available in the data they gather – the in-depth understanding of the Voice of the Customer within unstructured text feedback and how proactive treatment of the customers’ issues through improvement initiatives increases satisfaction.
Our Solution
That’s why together we piloted the introduction of advanced analytics modules – a tool that connects historical data about past improvements with commercial data and gives data-backed suggestions on how an identified issue can be resolved in the most impactful way.
These modules became a part of a wider-reaching CX Impact project, which works with two main ingredients:
- On one hand, there’s the impact analysis or “the what”. We look back into the historical data, which we have in good quantity after the digital transformation – 105 countries are now actively measuring satisfaction and logging improvements into the platform. Then we identify which proactive improvements, undertaken by Signify executives, have had the most significant impact on customers’ Likelihood to recommend and ultimately – revenue or share of wallet
- On the other hand, there’s the driver analysis or “the why”. We look into key factors which impact customer experience and prioritise actions around them accordingly. If we find that a hygienic factor is underperforming, Signify knows they have to fix it quickly because it has a detrimental effect on customer satisfaction. However, if it has reached a certain point of saturation, improving it further will have a negligible impact on customer satisfaction.
We knew that overall NPS for European markets grew by 12 pp in 2020, but the impact pilot proved that the positive effect of assigned actions is considerably larger than the NPS increase without clearly defined actions and can be considered as a driver of the overall NPS improvement. These findings led to a new, more mature cultural buy-in into the customer-centric philosophy.
The latest analytical efforts help Signify executives move to a holistic customer journey mindset and focus their efforts beyond product quality. The numbers also support their conviction to spend time not only on short-term resolutions but also on deeper transformations. Yes, close-the-loop and short-term improvements help the company demonstrate a human face and empathise with customer issues. However, long-term strategic improvements demonstrate Signify means business and they are not afraid to turn an entire process on its head because of the customers.
A look in the future
In the next stages we are planning to utilize the collective knowledge how to satisfy customer needs and financial data to create a model that measures the full commercial impact of actions. This would help executives when deciding between different alternatives – they will have data not only which route would lead to the highest satisfaction increase, but ultimately – to the best ROI.
We are also going to fully automate improvement initiatives recommendations through a user module in the CX platform.
Industry Recognition
Our joint project with global lighting leader Signify scored the highest in the “Customer Insight & Feedback, VoC” category at the European Customer Centricity Awards 2021. The award from the jury at ECCA came for a second consecutive year at a crucial moment as Signify enters a new stage of their customer-centric transformation.
Project Trivia:
About Company: Signify
Industry: Appliances, Electrical, and Electronics Manufacturing
Company Size: 30 000+ employees
Location: Eindhoven, Netherlands
GemSeek Capabilities: CX Impact Analytics, Next Best Action
