Call me a planner-at-heart. True to form, I keep many lists - one in my phone, one on the side of my fridge, one at my desk. And yes, my holiday shopping is nearly done. I've even hired a painter for next February already.
But some of our best laid plans don't end up the way we intended at the start. Consider this Gartner study from 2006 that shows how companies employ feedback programs. I can hardly imagine that 50% of these companies made the investment to collect feedback and never tell anyone about it!
95% Collect Feedback
45% Alert Staff
35% Use Insights
10% Deploy and Improve
5% Tell Customers
It's a gloomy tale of failed efforts to make real change. I'm sure a lot of us are amazed at the magnitude of drop-off, too, with only 10% that Deploy and Improve their companies based on feedback!
The good news? I think there's an enormous ROI potential revealed in this data. Imagine the difference in customer loyalty, market differentiation, and even revenue growth that a company could have if they achieved the last two (tough, but critical) steps, particularly when their competitors are getting hung up in "Just Collecting".
Senior Analyst, Walker Information