Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Closed Loop Systems or Running in Circles? The Current State of Enterprise Feedback Management
Authors: Timothy Keiningham (St. John's University, United States of America), Lerzan Aksoy (Fordham University), Sabine Benoit (University of Surrey), Shreekant Joag (St. John's University), Jay Kandampully (The Ohio State University), An Yan (Fordham University)
Enterprise Feedback Management (EFM) systems have dramatically changed the way firms collect, measure, and manage customer feedback. Moreover, the recent acquisition of Qualtrics—one of the leading EFM providers—by SAP for eight billion dollars clearly demonstrates how strongly the technology sector believes that EFM systems will play in companies’ operations going forward. Without question, EFM platforms have become prominent fixtures within many of the world’s largest firms. This results in large part from the promises made by EFM platform providers to their customers: closed loop feedback, enterprise distributed and easy to use customer data, and near real time smart analytics to guide decision making, better customer experiences. But is that the view of EFM systems by those that actually use them?
This investigation provides the first in depth examination of how EFM systems are currently being used within companies. We surveyed marketing managers from 127 US firms to gauge how these systems are used with regard to their companies’ voice of customer and customer experience management efforts. We also linked the data for each firm to examine the relationship between EFM platform usage and firm financial performance.
Our investigation shows little relationship between EFM platform usage and the performance of the firm. This should not be taken to mean that enterprise feedback management systems are not useful. Rather, our findings identify weaknesses in how firms are currently using these systems to identify opportunities for improvement. It is clear from our findings that while EFM platforms may offer many new features and benefits for managers to improve the customer experience and enhance financial performance, simply applying the technology will not result in competitive advantage. Therefore managers must not delude themselves into believing that the system will identify and solve strategic and tactical issues—that remains the critical role of management.