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How do you measure customer satisfaction and loyalty in BRM?

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Customer satisfaction and loyalty are key indicators of how well you are delivering value to your customers and building long-term relationships. But how do you measure them effectively in the context of Business Relationship Management (BRM)? BRM is a strategic approach to aligning business needs and IT capabilities, fostering collaboration and innovation, and creating value for both parties. In this article, we will explore some of the methods and tools you can use to assess and improve your customer engagement and value creation in BRM.

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1 Define your goals and metrics

Before you start measuring customer satisfaction and loyalty, you need to define what they mean for your specific BRM context and objectives. What are the expectations and outcomes that you and your customers have agreed on? How do you align them with your business value proposition and IT service delivery? How do you communicate and report on them? You need to establish clear and measurable goals and metrics that reflect your BRM strategy and value drivers, and that can be tracked and evaluated over time.

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Abdulhafiez Mahmoud???

Customer Success Lead - MENA@SecuriCIP - ICS/OT/IT Cybersecurity?Securing Critical Infrastructure?
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In Sales Business Relationship Management (BRM), customer satisfaction and loyalty are measured through surveys, Net Promoter Score (NPS), customer reviews, repeat business, complaint resolution time, engagement metrics, sales performance, and CRM data analysis. These methods provide insights into the customer experience, likelihood of recommendations, and overall relationship strength.

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Jessica Bryan

Driving Customer Value and Growth
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As crucuial as well defined metrics are, many organizations are overly reliant on data as an indicator of client satisfaction. This is fine at scale where you might be ok churning logos. For global and enterprise accounts, it is crucial to check in with your Customer Success Managers and leadership to make sure the metrics are an accurate reflection of whether or not a client renewed or grew their relationship. There are a million untrackable and human factors that skilled CSMs can flag when the data cannot. There is real sweetspot to blending scale, automation, and soft skills for orgs that want long term logo and revenue retention.

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2 Use surveys and feedback

One of the most common and effective ways to measure customer satisfaction and loyalty is to ask them directly. You can use surveys and feedback tools to collect and analyze data on how your customers perceive and experience your BRM services and interactions. You can ask them to rate various aspects of your BRM performance, such as quality, timeliness, responsiveness, innovation, and alignment. You can also ask them to provide comments and suggestions for improvement. You should conduct surveys and feedback regularly and consistently, and use the results to identify gaps and opportunities for enhancement.

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Stewart Huckett

Transactional footfall | know how many people are in any location and what they buy not just card transactions but also cash | visit yellowsub.ai
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This is probably the most important thing you can do that is to talk to your customers and ask them about what made them take the decision to work with you Them how could it be made easier and what else would like you to be able to provide for them to make the decision even easier

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3 Monitor key performance indicators

Another way to measure customer satisfaction and loyalty is to monitor the key performance indicators (KPIs) that reflect the value and impact of your BRM services and initiatives. These can include quantitative and qualitative measures, such as revenue, cost, productivity, efficiency, customer retention, customer advocacy, customer satisfaction score, net promoter score, and value realization score. You should align your KPIs with your goals and metrics, and use them to track and evaluate your BRM progress and outcomes. You should also share and discuss your KPIs with your customers, and use them to demonstrate and communicate your BRM value proposition and achievements.

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Rahim Suleman, MBA, CFA

Director, Business Development at NIIT Learning Solutions (Canada)
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In my experience, it's important to note that it's not just about tracking the KPIs, but also using them to drive continuous improvement in the BRM function. You need to be analyzing the KPI data regularly to identify trends and areas for improvement, and then take data-driven action as appropriate. Also, it's important to regularly review and update the KPIs to ensure that they remain relevant and aligned with the goals and metrics of the BRM service offerings as the organization's needs evolve, or removing KPIs that are no longer relevant or useful.

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4 Apply value management techniques

A third way to measure customer satisfaction and loyalty is to apply value management techniques that help you assess and optimize the value creation and delivery of your BRM services and initiatives. These can include value mapping, value modeling, value scoring, value portfolio management, and value harvesting. These techniques help you identify and prioritize the sources and drivers of value for your customers, and align them with your BRM capabilities and resources. They also help you measure and optimize the value realization and benefits of your BRM services and initiatives, and ensure that they are aligned with your customers' needs and expectations.

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JC Negri

VP of Growth at Intech Innovation Group
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In my experience, using a CRM system that implies productivity, communication, and updated information is also key. Always a review on KPIs, Workflows, and Dashboards, can be automated to deliver actual information. Never the less, there is always time for improvement, innovation and why not; pick up the phone and contact that client... see what is new.

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5 Engage in continuous improvement

A final way to measure customer satisfaction and loyalty is to engage in continuous improvement activities that help you enhance your BRM performance and value creation. These can include benchmarking, best practices, lessons learned, feedback loops, and innovation cycles. These activities help you compare and learn from your own and others' BRM experiences and results, and identify and implement improvements and innovations that can increase your BRM effectiveness and efficiency. They also help you foster a culture of collaboration and co-creation with your customers, and build trust and loyalty that can sustain and grow your BRM relationships.

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Stewart Huckett

Transactional footfall | know how many people are in any location and what they buy not just card transactions but also cash | visit yellowsub.ai
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It is so important to always learn from the issues that are presented to you in business adapt your process and then move forward in the more positive and effective way.

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How do you measure customer satisfaction and loyalty in BRM?

1

2

3

4

5

1 Define your goals and metrics

2 Use surveys and feedback

3 Monitor key performance indicators

4 Apply value management techniques

5 Engage in continuous improvement

Business Relationship Management

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How do you measure customer satisfaction and loyalty in BRM?

1

2

3

4

5

1 Define your goals and metrics

2 Use surveys and feedback

3 Monitor key performance indicators

4 Apply value management techniques

5 Engage in continuous improvement

Business Relationship Management

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