ACSI Analytics enables banks to determine satisfaction scores, competitive benchmarks, and predict future profitability
A new integration between the American Customer Satisfaction Index (ACSI®) and Microsoft Dynamics 365 gives customers a new way to capture, analyze, compare, and improve customer experience and satisfaction. The ACSI Analytics customer satisfaction tool -- exclusively available for banking customers through Microsoft Dynamics 365 Customer Voice -- gives banks insight into their satisfaction score (on a scale of 0-100) and enables them to preview how improvements to customer experiences can strengthen customer retention and increase long-term profitability.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210114005733/en/
The ACSI Analytics customer satisfaction tool -- exclusively available for banking customers through Microsoft Dynamics 365 Customer Voice -- gives banks insight into their satisfaction score on a scale of 0-100. The tool also provides a benchmark comparison for the industry, customer retention rate, and predicted value and profitability of customers given current levels of performance. (Photo: Business Wire)
ACSI Analytics offers real-time customer feedback to identify what customers like and don’t like across the experience. It can also benchmark a brand’s performance against competitors and identify opportunities for improvement. With this information, companies can more strategically allocate resources to improve customer satisfaction with their products and services.
"Customer feedback is essential to growth, but it’s not always easy to capture," said Claes Fornell, Chairman and Founder at the ACSI. "We’ve perfected the model over 25 years, helping brands uncover opportunities to increase satisfaction and financial performance. Now Microsoft Dynamics 365 is making this information even more accessible, starting with financial institutions. These insights will help companies scale during a time when most are struggling."
Using Dynamics 365 Customer Voice, the ACSI Analytics tool surveys customers and analyzes the results to compile an overall satisfaction score, benchmark comparison for the industry, customer retention rate, and predicted customer asset value estimate, which explains the value and profitability of customers given current levels of performance. Banks can also drill down into specific areas of satisfaction, including mobile app performance, financial products, and branches and ATMs to more accurately and reliably measure customer experiences.
ACSI Analytics also includes a prediction model simulator that can estimate what would happen to a company’s customer satisfaction metrics -- and future profitability -- when it changes specific areas of the customer experience, like investing heavily in a mobile app.
"COVID-19 has triggered rapid shifts in customer habits and preferences, strengthening companies’ need for actionable metrics and feedback on the customer journey," said Ray Smith, Microsoft General Manager of Dynamics 365 Sales. "ACSI’s expertise in providing accurate, insightful data, combined with Microsoft Dynamics 365 Customer Voice, lets customers across more than 30 industries capture in-depth, industry-specific satisfaction metrics."
To learn how to use ACSI Analytics through Dynamics 365 Customer Voice, visit https://www.theacsi.org/acsi-analytics-solution.
About the ACSI
The American Customer Satisfaction Index (ACSI®) has been a national economic indicator for 25 years. It measures and analyzes customer satisfaction with more than 400 companies in 47 industries and 10 economic sectors, including various services of federal and local government agencies. Reported on a scale of 0 to 100, scores are based on data from interviews with roughly 500,000 customers annually. For more information, visit www.theacsi.org.
ACSI and its logo are Registered Marks of the University of Michigan, licensed worldwide exclusively to American Customer Satisfaction Index LLC with the right to sublicense.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210114005733/en/