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Value Analytics: The Latest News

CCO Emeritus

Back in January, I shared some perspective about our new Value Analytics feature, which was made available to all our customers as a core feature of our community platform at the end of last year. Since then we’ve had more than 60 customers turn on that feature in their communities, and they’ve collected results from almost 200,000 users to date. Here are a few results that I’ve found interesting so far:

  • Companies choose between Net Promoter Score (NPS) and CSAT at an almost 50% split. (Value Analytics asks you to choose one or the other.)
  • Results from B2B communities so far are skewing slightly higher than B2C across key Value Analytic metrics like success rate, NPS and CSAT.
  • Early results suggest that CSAT correlates strongly with low Time to First Reply, especially in B2B communities.

 

In the meantime, our customers have offered a ton of feedback on things they’d like to see added or improved in the feature.  Among the most common requests:

  • Ability to assess the potential impact on sales, rather than just cost savings.
  • Ability to customize more questions and answers.
  • More logical flow between some questions.
  • A more intuitive experience for administrators in configuring the survey.
  • Better clarity in question format, particularly in relation to the NPS question.
  • A free-text question so respondents could provide context for their responses.

 

Ok, so that’s what customers are finding, and doing, and asking for. What about our team at Lithium?

 

Well, I was super pleased that we were able to do a quick update earlier this year to address some “gotchas” that made it into the initial release – and many thanks to those who helped us spot those.  Even better, we were able to release a second, more significant update just a week ago, as part of our version 16.5 platform release.  While there are still plenty of improvements we’d like to make, I’m happy to say that you’ll find each of the bullets above are addressed in a meaningful way in this release. Go team!

 

If you haven’t turned on Value Analytics in your community yet, the new, improved survey is waiting for you – please use it!  But if you’ve been already running the feature and collecting data, we haven’t forgotten you. We’ve actually retained the original survey (called the “Impact Survey”) alongside the improved survey (called the “Customer Experience Survey”) so you can plan your migration to the improved survey over time, in a thoughtful way.

 

Thanks again to all our early adopters, who are pioneering these kinds of measurements in community. And thanks, too, to our internal teams in product marketing, product management, and engineering, for keeping this feature (and all our products) improving and evolving. 

 

For more info on Value Analytics and the improvements in 16.5, please see the Knowledge Base article About Value Analytics, and the Release Notes for 16.5

About the Author
Joe is Lithium's Chief Community Officer. An expert in business-oriented online communities, he's helped more than 300 companies create successful communities. Follow him on Twitter at @cothrel.
7 Comments
Advisor
Advisor

 @JoeC - thanks for posting this update. Chatting with you in-depth about this at LiNC was fantastic and we really feel like we're better poised to show value to the business now thanks to this tool. This update will further assist by helping to prove acquisition, which is great to see.

 

As a product recommendation, seeing some survey ability around churn for service-based organisations would be really useful for us. 🙂

Occasional Commentator
Occasional Commentator

@JoeC Great to hear this tool is quickly evolving. After seeing it at LiNC, we're looking into how to take advantage of the benchmarking capabilities and insights that our current tool cannot provide. Your improvements have made the case for migration much easier for us - thanks!

Honored Contributor Honored Contributor
Honored Contributor

Great update @JoeC the VA feature has really help me build a call deflection/ROI calculation which I finally have confidence, no more assumptions... 

 

Also great to see the improvements with the new survey which i'll be looking to migrate too and look forward to any future enhancements. 🙂  

CCO Emeritus

Thanks for the comments, guys. Glad to hear these improvements are resonating!

 

@Limydoo I love the idea around churn. I can imagine a question that probes intention to stay/go, much like the question we just added around purchase intent.  Interested in any specific thoughts you (or others) might have on this.  

Advisor
Advisor

@JoeC for sure - I'd envision it being a question we phrase to customers around whether their experience with the community has made them more or less likely to stay with the current provider (i.e. AGL, in our case). Might need a qualifying question as to whether they are a customer in the first place, so we're not capturing false positives. I definitely think it should just be a modal question though - more or less, so we can capture the statistic.

 

If this were added to value analytics I really think it would be a powerful proposition; particularly for any service based organisation. Work some magic Joe, it'd be great to see!

CCO Emeritus

Great suggestion - thanks for the added info. It could even be a variation on (alternative to) of the purchase intent question. We're getting ready to deploy the new survey on the Lithium community, and I'm thinking that for business like ours -- and yours -- a question around intent to renew (or in your case, not leave) might be more relevant and useful than a question about intent to make an additional purchase. I'll add make sure this idea is part of the of the conversation on around the next release of the feature. If it looks like something we can do, we may run some alternatives by you. 

Advisor
Advisor

@JoeC - I'm really encouraged to hear this Joe and would welcome you contacting me directly to discuss. From my end I'd actually like to keep the purchase question as well as adding this one in around churn; the intent to purchase/leads metric has been pretty popular internally as well!

Hope to hear from you soon 🙂