Holiday season is now behind us, but just before it arrived you may have noticed something new in the admin console -- a gift from our analytics team. It’s a new feature, part of our core platform and available to all customers on version 15.10, and it’s called Value Analytics.
I was lucky enough to help the team that developed Value Analytics, so I thought I’d share my thoughts on what’s in it and why it matters.
As you know, data and analytics has always been a key focus at Lithium. We’ve got the world’s largest database of enterprise social and community data, going back 15 years and covering hundreds of brands in dozens of industries around the world. But there’s one kind of data we’ve never collected in our platform: data on user intent, success, and satisfaction. This data was sometimes gathered independently by our customers, and sometimes they shared it with us. More often though, it was locked in spreadsheets or databases inside their organizations, or never collected at all.
Last year our Business Value Engineering (BVE) team -- our “ROI geeks” -- began to ask the question: could we find a way in every Lithium community to easily gather and analyze this data? Our analytics team accepted the challenge, and by late last year had a beta version of the product live in a small set of communities. (If you use the Lithium Community, you probably saw it first. They were included in our beta.)
So what does Value Analytics do? It starts with a standardized set of five survey questions:
While the answers to some questions are customizable, the questions are not. They are based on formats most commonly used by customers already doing similar surveys, and ones endorsed by standards groups and professional organizations, including the creators of the Net Promoter Score SM (NPS®). This standardization saves you time and effort, but it has another benefit too -- it enables us benchmark your performance against other communities like yours. This is exciting for me, because in the 20 years I’ve been working with communities, we’ve never had the answer to questions like: how satisfied, on average, are users of brand communities today?
Value Analytics is designed for communities of all kinds, regardless of industry, audience, or focus. But there’s additional value if your community focuses on customer service or support. You’ll note that questions 2 and 3 provide data that can be used to quantify cost savings based on avoided calls to your call center. The results are already starting to roll in. Jaime Perez and his team Microstrategy share their results in a new Lithium case study.
We recommend that every customer enable this feature immediately. The questions will appear for a randomized set of community users based on simple configuration choices you make, such as surveying the community overall, or focusing on specific community areas (nodes) or roles. Don’t get hung up on all the other things you might want to ask or know -- you can run more extensive surveys using other tools. You may be doing so already, and that shouldn’t change. This tool is different. The power is in its simplicity. You’ll get a quick baseline and understand your strengths and weaknesses, using reports newly added to Lithium Social Intelligence. You can then use the data to understand the impact of everything you do -- new designs, features, content, and processes -- on the experience you’re creating for your users.
We’re looking forward to seeing your results!
NPS is a registered service mark, and Net Promoter Score is a service mark, of Bain & Company, Inc., Satmetrix Systems, Inc. and Fred Reichheld.
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