What is this?
Organizations that engage in an interaction analysis do so in order to obtain valuable information about their way of doing business. It helps them understand the customer experience as well as insights on how to attract, retain and strengthen customer relationships. An interaction analysis provides critical information about the points of contact between the customer and the organization. It focuses on the transaction between an organization’s customers or suppliers and evaluates the true cost of service and other factors impacting revenue. Based on this analysis, management can then make conscious decisions on how to deploy resources to ensure each interaction creates value for both the customer and the organization. It also provides a mechanism to understand and anticipate future needs.
How we do this
At Mark Longo, we marry the insight from the client’s internal knowledge experts with the facts gathered through our analysis. Armed with critical information, we then create a customer behaviour model as well as understand the cost of doing business with them. The ultimate goal is to complete a life-time profitability analysis that will guide the organization forward in designing and delivering on its customer experiences. Together with our clients, we use an iterative approach to gather, validate and build on the information and insights of this study.
Objectives / Symptoms & Questions
Understanding customer / supplier behaviours and how they impact an organization’s bottom line is critical to its success. As new products and services evolve, the organization may attract new customers, while others may leave. Therefore, re-visting an interaction analysis is important to help answer some of the following questions:
- Are our customers getting the best service in the industry? Are customers complaining about speed of service or dis-jointed conversations?
- Are employees continually being frustrated with delays in completing seemingly simple tasks? Are delays impacting customer relationships?
- Does the organization understand its customers’ needs and meet them consistently? Do you treat customers differently?
- Is the organization planning on entering into new channels or adopting a new business model?
- Is the organization introducing CRM/ e-business opportunities in order to increase customer satisfaction, reduce costs, launch new products or enter into new markets?
- Is the organization using technology to better understand its suppliers and customers?
Benefits / Outcomes
Organizational benefits of interaction analysis may include:
- Insight into customer / supplier relationships
- Insight into process, technology or organizational improvements
- Improving customer satisfaction and loyalty
- Reducing cost to serve
- Improving product or service offering thus leading to competitive advantages
Insights
Many customer insights can be drawn out from the organization’s knowledge experts, organizational processes and systems. Each layer of information builds insights. For example, external trends and interactions provide an external perspective; customer feedback and relevant best practices provides another perspective on what is and could be possible. A blend of perspectives provides both qualitative and quantitative information that assists with understanding customer trends and identifies the appropriate steps for improvement.
What our clients say
“I am pleased with the outcome of the project, and would not hesitate to utilize their services again in the future. Additionally, I would recommend the [Mark Longo] to organizations requiring value-added consulting services.”
Dina Palozzi, Senior Vice-President & Chief Privacy Officer, BMO Nesbitt Burns
