A company from Southern California has developed a technology platform to offer companies reliable information about what their employees and customers think about the company, and an easy way for them to express it.
HundredX, an entrepreneurial company based in San Diego, created a system to provide feedback that allows the user to rate a product or service within seconds. Unlike surveys that rate from one to ten, this system is based on answering questions only with a happy face to define a good experience, or a sad face for a not so positive one, with the intent to resemble a human conversation as much as possible.
By offering this option, says Rob Pace Founder and CEO of HundredX, to EFE, users tend to participate more frequently, and not only when having something really good or really bad to say. He said, “If you make it simple for your customers to tell you what is going on, they become your eyes and ears, as well as to provide you with all kinds of great suggestions”.
Pace said that currently brands “can no longer pretend” and only rely on the advertisement of a product and service, which can use up to 90% of the budget, but that now the outcomes are what matters most. “Everyone has a cell phone in hand, and can tell hundreds of people this is great or this is terrible, so it is critical that (companies) create the right experience with the customer instead of only convincing them to try something”, he said.
Little by little, this technology, very simple at a glance, has caught the attention of some of the largest companies in the US, to either get to know the opinion of their customers or their own employees. A survey to 500 business executives nationwide found that 88% of them agreed that keeping existing customers is more effective than attracting new ones. The research study, done by HundredX and YouGov, indicates that 99% of respondents said that customer feedback helps companies retain good employees and grow talent.
To cite an example, Pace pointed out that, close to 28% of restaurant managers are women. In comparison, 60% of the best rated employees, based on the feedback received, were women. “We must think about what this means to promote diversity”, he said. One of the findings has been that if a simple tool is offered, customers and employees “have many positive things to say”, he said.
The City of Albany, Oregon utilizes this technology, and has now received around 7,000 comments, from which only around 100 of them evidently show aspects that must be corrected, while the rest are positive comments towards the different departments.
Over 30 years of business experience have taught the CEO of HundredX that the best tool for small or large companies is to listen and to act on the concerns of their customers or employees. “The biggest change I’ve seen in my business career is happening right now, before everyone was worried about their products and services, now, they must worry about the results.”
From 1986 to 2007 Pace was a partner of Goldman Sachs banking and was later named chairman of the National Board of Directors of The Salvation Army.
He later moved to San Diego, California, where he founded the company that today has dozens of customers, local and renowned companies such as Mary Kay, JP Morgan, and the University of Notre Dame which has incorporated this system to listen to the opinion of donors and staff.
Micki L. Kidder, Associate Vice President at Notre Dame, affirms that this system has allowed them to create a “more dynamic dialogue”, evaluate strategies based on the direct feedback and to acknowledge the dedication of both donors as well as employees. EFEUSA