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Posted by Andrew McInnes on September 27, 2011
Enterprise feedback management (EFM) solutions help voice of the customer (VoC) programs scale up. They enable customer experience professionals to gather customer feedback from a range of sources, make that feedback relevant and usable for a range of employees, and distribute the insight out to drive customer-centric decisions — without relying on excessive manual analysis and reporting.
Despite EFM’s value, the space has been difficult to navigate because of its dozens of small vendors, evolving market segments, and frequent mergers-and-acquisitions (M&A) activity. This has left customer experience pros with a lot of detective work to do. Even educated buyers have had a hard time coming up with logical shortlists, and vendors have regularly avoided going head to head with competitors.
To shed some light on the EFM space and help customer experience leaders find the right partners, we conducted an in-depth evaluation over the past several months and (finally!) published the results here: The Forrester Wave™: EFM Satisfaction And Loyalty Solutions, Q3 2011.
As the report title suggests, we limited this Wave evaluation to EFM vendors that focus on satisfaction and loyalty work. Packaged solutions from vendors in this market segment are generally most appropriate for customer experience pros because they support VoC processes ranging from data collection to action management with the goal of continuously improving the customer experience, as reflected in satisfaction and loyalty scores. (We also conducted a separate Wave of EFM vendors for market insights professionals, which my colleague Roxana Strohmenger describes on her blog.)
We included six satisfaction and loyalty solution vendors in our evaluation: Allegiance, Empathica, MarketTools, Medallia, Mindshare Technologies, and Satmetrix Systems. Each of these vendors offers a solution that aligns with Forrester’s definition of EFM, generates at least $11 million in annual revenue from EFM, and comes up regularly in inquiries from our customer experience clients.
You’ll have to read the report to find out the results, but here are a few observations about the category in some key areas:
For our thoughts on the individual vendors, check out the full Wave report. Keep in mind that this evaluation is intended as a starting point. If you’re in the process of evaluating potential partners for your company, you can use our scoring spreadsheet to customize criteria weightings and come up with your own ranking.