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CMMS Radio and Youtube – Greg Christensen and Matt Selbie

Apr 12, 2024 | News

The podcast from CMMS Radio with Greg Christensen discusses the comprehensive journey of computerized maintenance management systems (CMMS), covering everything from selection to implementation. It aims to assist listeners in making informed choices and achieving success with their CMMS projects.

The episode features experts in the field and includes a detailed discussion with Matt Selbie, president and founder of Opinator, who brings over 20 years of leadership experience in the energy and high technology sectors.

Summary

The discussion also touches on broader topics such as the importance of having an efficient feedback system in place within companies and how most businesses fail to act on the customer feedback they collect. This lack of action can lead to customer defection and reduced company revenue. The episode encourages businesses to not only gather feedback but also to act on it effectively, to maintain customer satisfaction and operational efficiency.

You can listen here on Spotify

Or watch the full episode on Youtube here.

Youtube CMMS Radio

Greg Christensen is a CMMS expert. (Computerized Maintenance Management Software) including guidance on CMMS selection and use, best practices, industry experts, system providers, and more. He wears many hats including podcast host. CMMS radio is helping clients navigate their CMMS journey, with guest and monologue episodes, to highlight best-practices and various journey stories around CMMS, maintenance, and the like. I talk about all things CMMS including facilities maintenance, maintenance and reliability, the maintenance mindset, culture and the like, with various guests to share insights and stories. As an active CMMS consultant this podcast offers another way for me to help those involved in their own projects while connecting with experts to showcase their backgrounds and insights. It keeps me connected to the industry and I get to work with a lot of people on a subject we’re all passionate about

So why is customer feedback a necessary inclusion?

The importance of customer feedback in driving business success. Proactive engagement via technology. We learn how Opiniator’s platform streamlines the feedback collection process, facilitating real-time insights for businesses to adapt and improve customer experiences. The significance of proactive engagement with customers to enhance satisfaction and loyalty, highlighting the role of technology to this end. Greg and Matt tackle the skilled trades gap, attributing it to various factors including generational shifts and the retirement of our skilled trades keepers of knowledge.

We discuss the urgent need to incentivize younger individuals to pursue careers in skilled trades by revising pay scales and altering the perception of these professions as antiquated or unattractive. Matt shares insights into successful approaches adopted by organizations to address the shortage of skilled workers, advocating for the reintroduction of vocational classes in educational curricula. Throughout the episode, personal anecdotes from Matt, such as his favorite music genre, and sport, add a touch of relatability. We’ll get some insight on work-life balance as well. Customer Feedback as Business Driver Proactive Customer Engagement Addressing the Skilled Trades Gap Incentivizing Young Talent Educational Reforms Personal Insights.

So lets get to the nitty gritty.

Moving on to our discussion – what did we talk about? 

What were the main discussion topics in theCMMS Podcast? Lets go….

  1. Why is customer defection so detrimental to a business?
  2. Why don’t businesses act on cystomer feedback?
  3. Can Opiniator connect to other systems?
  4. Can Opiniator be used for inspections in addition to customer feedback?
  5. How can Opiniator work seamlessly with a CMMS?

 

Question1 : Why is customer defection so detrimental to a business?

Matt Selbie:

Customer defection, often termed “customer churn,” can be highly detrimental to a business for several reasons. Here are the top five, supported by relevant data and statistics:

  1. Loss of Revenue: A primary consequence of customer defection is the direct loss of revenue. For most businesses, especially those with subscription models, the loss of a customer means a direct reduction in cash flow and revenue. According to a study by Bain & Company, a 5% increase in customer retention can increase profits by 25% to 95%.
  2. Increased Acquisition Costs: Acquiring a new customer is significantly more expensive than retaining an existing one—costing five to 25 times more, according to the Harvard Business Review. High churn rates necessitate higher spending on marketing and sales efforts to replace lost customers, which can strain budgets and reduce overall efficiency.
  3. Impact on Brand Reputation: Frequent customer turnover can damage a brand’s reputation. Negative reviews and word-of-mouth from dissatisfied former customers can deter potential new customers. A study by Zendesk highlights that 54% of customers share bad experiences with more than five people, further amplifying the potential reputational damage.
  4. Reduced Customer Lifetime Value (CLV): Customer defection lowers the average customer lifetime value, a critical metric for predicting long-term profitability. Businesses with lower CLV may find it difficult to justify long-term investments and may struggle with long-term sustainability. A focus on customer retention can boost CLV by nurturing longer, more profitable customer relationships.
  5. Impact on Employee Morale and Retention: High churn rates can also affect internal morale. Employees in companies with high defection rates might feel their efforts are ineffectual, leading to lower job satisfaction and potentially higher staff turnover. Research from TINYpulse finds that employees with low morale are 3 times more likely to leave their jobs.

BTW – we have done a little research on the principle reasons for defection – check it out.

Customer defection means customers leave your business for a competitor

 

Question 2 : Why don’t businesses act on customer feedback?

Matt Selbie:

Many, many reasons – but seems to be worse now because of the low unemployment rate here in the US, and simply not having enough warm bodies to get everything done. Nonetheless, this is wrong! We think there are about seven reasons why this is occuring:

  1. Lack of Resources: Many businesses, especially smaller ones, may not have sufficient staff, time, or money to analyze and implement changes based on customer feedback. This can lead to feedback being collected but not acted upon. What a waste of effort!
  2. Poor Feedback Management Systems: Without a robust system to gather, analyze, and monitor feedback, responses can become scattered or lost. According to a study by Forrester, only 30% of companies closely monitor the quality of interactions with customers, which indicates a lack of systematic approach to managing feedback. We actually think this is higher – where only about 10% of all businesses translate feedback into corrective action.
  3. Inadequate Integration into Business Processes: Feedback often needs to be integrated into the strategic decision-making process, but if this integration is lacking, feedback might not be effectively translated into action. A survey by Harvard Business Review highlighted that only about 29% of firms with feedback systems in place systematically incorporate insights into their business processes.
  4. Cultural Issues: In some cases, there might be a cultural resistance to change, where feedback is seen as criticism rather than an opportunity to improve. This can hinder proactive actions based on customer insights.
  5. Difficulty in Quantifying ROI: Demonstrating the return on investment (ROI) for changes made based on feedback can be challenging. Businesses may be reluctant to allocate resources without clear data showing that the changes will lead to financial benefits. Data from Bain & Company suggest that while a customer-centric strategy can boost revenues by 4-8%, quantifying the immediate impact of specific changes can be difficult.
  6. Feedback Overload: Companies may receive an overwhelming amount of feedback, making it hard to prioritize and act on. This can lead to paralysis by analysis where nothing is acted upon because everything seems important.
  7. Lack of Customer-Centricity in Leadership: If customer-centric values are not emphasized from the top, it’s less likely that customer feedback will drive decision-making. Leadership buy-in is crucial for ensuring that customer insights lead to actionable changes.

Unused megaphone showing no action

 

Question 3 : Can Opiniator connect to other systems?

Matt Selbie:

Yes – though we are at our infancy here. Opiniator is designed to be standalone so that a business can get actionable feedback straight out of the gate. This means no apps for the customer and no integrations for the business. However with asset management and CMMS systems we are now building hooks to connect so that a guest alerting the business that there is a maintenance issue – alerts the business AND triggers a work order in the asset and maintenance program.

  1. CityWorks
  2. Google
  3. Single Sign On

Future updates to Opiniator will feature APIs that allow this increased connectivity.

Question 4 : Can Opiniator be used for Inspections in addition to customer feedback?

Matt Selbie:

That would be a Yes.

Multiple Yes signs

Opiniator is agnostic as to what is asked, and who answers. This means that the same program can be used for inspections by staff. This allows any business to record:

  • When the inspection took place
  • Who performed the inspection
  • Whether the location passed inspection
  • And if not, then what were the issues.
  • Plus allow photo uploads to confirm the problem

The inspection data shows in the same dashboard as customer data. In this way Opiniator eliminates all existing inspection costs and replaces checklists, clipboards and inpection apps. More on our inspection page.

Question 5 : How can Opiniator work seamlessly with CMMS?

Matt Selbie:

Adding a feedback tool to CMMS is going to radically improve the latter:

  1. Trigger Points for Feedback: After maintenance tasks are completed, Opiniator can automatically send feedback requests to facility users or customers to rate the service and provide comments.
  2. Data Transfer: Feedback data collected through Opiniator transfers to the CMMS, enriching the maintenance records with user insights.
  3. Automation: Integration can include automated alerts in the CMMS based on specific feedback scores, indicating urgent issues or satisfaction milestones.

So what are the benefits of this type of integration?

  • Enhanced Service Quality: Real-time feedback allows for immediate adjustments in maintenance work quality and customer service strategies.
  • Preventive Maintenance: Customer feedback on facilities can help identify areas that require preventive maintenance, reducing the risk of major repairs.
  • Resource Allocation: Insights from feedback data can guide decisions about where to allocate maintenance resources more effectively.
  • Reporting and Analytics: Combining operational data from the CMMS with customer satisfaction metrics from Opiniator can provide a holistic view of performance, influencing strategic decisions.

Conclusion

  1. Businesses can include a feedback program like Opiniator into their own CMMS
  2. There are many big advantages to doing so
  3. Integration is straightforward.
  4. So what are you waiting for?

 

In closing, many thanks to Greg for Podcast – a great conversation – ad looking forward to the next.

 

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