EFM can help an organization establish a dialogue with employees, partners, and customers regarding key issues and concerns and potentially make customer-specific real time interventions.
Modern EFM systems can track feedback from a variety of sources including customers, market research, social media, employees, vendors, partners and audits in a privatized or public manner.
EFM enables deployment across the enterprise, providing decision makers with important data for increasing customer satisfaction, loyalty and lifetime value.
EFM applications support complex survey design, with features such as question and page rotation, quota management and skip patterns and branching.
The next generation of EFM solutions also enable companies to capture feedback from critical new sources including social media, online communities, call recordings, contact center notes, and more, to get a true “360-degree view” of the customer.
These insights enable companies to more easily identify the root causes of problems, determine the most appropriate actions, and target investments to deliver the most impact on the bottom line.
In order to transform customer feedback into a strategic tool for driving competitive advantage, that data needs to be readily on-hand at the point of daily decision making.
The next generation of EFM solutions automatically delivers the most relevant real-time feedback data to each user across the enterprise, according to his or her role – executive, manager, customer service agent, etc.
With the information from their customer feedback program, American General Life has identified opportunities to reduce technology costs, avoid expenses, and optimize business processes.
The possibility to manage feedback using portable devices has a lot of significant advantages which will provide the company`s employees with ability of collecting and analysing data conveniently and in time.
[12] The main disadvantages of EFM could be that it focuses on the enterprise, not the customer; insight across a variety of inputs should be examined, feedback would be too narrow field here; the value of the system should derive from taking actions, not just managing surveys.