Client: A leading Clinical research Organization (CRO) that carries out medicine discovery and development services.
The client had a strategic focus around evaluating the health of customer engagement and actionizing initiatives towards becoming a more customer centric organization.
Feedback Insights designed an overall approach and carried out Customer Satisfaction Study to gauge the experiences of customers.
Feedback was gathered from close to 100 accounts & ~ 300 respondents at the senior level.
- A two-variant survey instrument was designed to gather feedback at different respondent levels.
- A mix of qualitative/open ended and quantitative questions were administered for gaining inputs from customers.
Key Insights gathered from the study:
- Key observation was that younger relationships formed a large set of discontented customers. The need to have a relationship management process and set grounded expectations among newer stakeholders was suggested as an action of critical importance.
- Another major finding was that the top accounts/key revenue accounts were seeing lower experience scores across the board.
- Improving capabilities for better execution was one of the key ask from customers
- Loyalty scores were noticeably higher than the other key business metrics; Satisfaction, Advocacy and Business Value. This was an indication of higher switching efforts involved for customers and hence a hostage situation among discontent customers. The key drivers of dissatisfaction were highlighted out.
- Variations in experience scores were seen across markets. The markets needed specific attention were highlighted out along with the areas of improvement.
- Specific & customized focus based on customer categories (A B C) was suggested. At the next level, account level improvement plans were needed for improving engagement levels.
- The client was suggested to build differentiated partnerships and distinguish itself on parameters, other than cost effectiveness and infrastructure.
- Effectiveness execution through improved systems/processes and improving scientific expertise in specific areas were suggested as the key areas to be addressed. Suggested a more process/system led approach with implementation of continuous improvement initiatives for improving the customer experience.