A customer experience program is only useful if you know how to prioritize improvement areas. Driver modeling allows you to determine the importance (relative impact on NPS or other outcomes) of each attribute being measured.
AND Agency reports these results using a 2-dimensional “quad chart” where each item is plotted based on its derived importance and average performance ratings. This is an important aid in prioritizing actions that will have the greatest impact. In particular, it distinguishes between weaknesses that are highly influential and those that are not – separating underperformance that is damaging to overall customer experience from underperformance that has less impact. Similarly, among high-impact attributes, this analysis tells us which are a problem and which are influential strengths that should be maintained or even promoted.
What’s more, AND Agency can help you achieve your NPS or key metric target by providing you with a powerful interactive tool that allows you to test the impact of any combination of improvements among the attributes.
For example, you might attain a 2-point NPS increase by improving every attribute just a little, improving the one or two most important ones a lot, or through moderate improvements in a select half-dozen priority items. By doing this, you can set NPS targets that are appropriately challenging but realistic, and establish tactical plans to achieve those targets.>
Through a penalty-reward analysis AND Agency can tell you how well you should strive to do on each attribute. Some attributes may be important, but only because low ratings erode the customer experience, while excellent ratings do not result in improvement. This is typically true of hygiene factors such as keeping promises or being responsive. In other areas, only excellence moves the needle. Other items are linearly related to outcomes, so that any improvement has an equal impact.
Penalty-reward analysis measures these differences, allowing you to optimize the level of performance on each item, to maximize the overall quality of experience without over-investing where it does not help.
Factor analysis allows you to understand the relationships among the attributes and the broad themes they represent. This can help you streamline questionnaires and eliminate or replace redundant items, and also provide a better grasp of the broad concepts being measured.
Not all customers are alike and there may be a need to conduct cluster analysis to group respondents into segments based on similarity in their responses to survey questions (or other data).
After you have identified your segment and know what is important to each of them, AND Agency can also help you dig deeper into each segment and understand: what demographics or account characteristics help us to identify each kind of customer? Are there common sources of dissatisfaction or satisfaction within each segment? By having a greater understanding of each type of customer you can be better equipped to improve their respective customer experience, as well as devise impactful marketing strategies.
How would you like to assign each of your customers an estimated NPS score – regardless of whether those customers have even been surveyed? Based on this data, your staff can then be equipped to approach customers individually with interventions.
This is possible with Decision Trees analysis, which is sometimes viewed as a hybrid of driver analysis and segmentation, because the analysis identifies discrete segments based on responses to survey (or other) data, but does so based on variables associated with a particular outcome.
AND Agency has conducted this type of analysis for many clients and they have all said that this is the most actionable type of analysis they had ever seen from research.