Are You Ready for EFM?
By Richard D. Hanks Chairman and President, Mindshare Technologies | April 15, 2010
Enterprise Feedback Management (EFM) - Defined
Enterprise Feedback Management is the process of systematically collecting, analyzing, consolidating, and then using all sources of feedback to improve your business and your overall profitability. EFM includes not only aggregating feedback from multiple stakeholders, across multiple channels, but also disseminating real-time, actionable information across the company to where it is most relevant, and then enforcing accountability for follow-up and service lapse recovery.
More than Just a "Software Solution"
EFM is not just a piece of software - it is a way of doing business. EFM goes hand in hand with a customer-centric culture. However, the implementation of a true customer-centric culture requires a demonstrated commitment of leadership, resources, and processes. The following elements are the main tactical levers that you should use to ensure that an EFM implementation is successful:
- Senior management commitment and involvement
- Compensation and reward structures
- Recognition and appreciation
- Employee engagement
- Alignment and communication
- A structured process for using and acting on customer feedback
- Coaching and training
How EFM Fits With Existing Business Processes and Systems