Why Customers Are the Most Important Resource Your Business Has

NAVEX Global
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NAVEX Global

[author: Steve Chapman]

Knowing your customer is vital for any business endeavor. Successful businesses, however, understand what their customers want and are making them part of the innovation process.

American economist and MIT professor Eric Von Hippel is best known for his work in developing the concept of user innovation – that customers, rather than the producers, are responsible for a large amount of innovation. He conducted a study on the relationship between superstar customers and company innovation. “By studying more than 1,193 successful innovations, Hippel discovered that 60 percent of these innovations came from customers.”

Our Most Valued Assets

Our software and services are informed, driven and refined by direct feedback from our customers.

Providing risk and compliance management and Environment, Social and Governance (ESG) software and services that positively impact the world is NAVEX Global’s specialty. Our customers’ risk and compliance management requirements continue to grow more advanced and complex. At the same time, the necessity to build and maintain a stronger, more diverse and equitable culture is rising.

With this significant responsibility, we want to understand our customers’ problems and work as a trusted partner to solve their challenges. Together, we uncover solutions that make their businesses more resilient and thrive.

What Our Customers Teach Us

The dedication and genuine curiosity to understand their needs. By taking the time to listen actively, we understand what is most important to their business and program and learn how compliance, risk management and ESG fit into their daily lives.

How to take things to the next level. By collaborating with customers to understand and evaluate the potential impact of NAVEX Global’s solutions, we have the opportunity to identify specific requirements our customers must meet and quantify the value gained from leveraging risk and compliance management and ESG software and services.

Salesforce research shows that 76% of B2B buyers expect businesses to know their unique needs and expectations.

Readiness to discover, innovate and deliver solutions to help meet their growing list of requirements and solve their most critical business problems using compliance, risk management and ESG software and services.

Continuous improvement to the customer experience fosters excellence. Continuously improving the customer experience is a commitment NAVEX Global stands by. We work closely with cross-functional teams like Product, Delivery Service, Support, Customer Success Management and Sales to bring the voice of the customer to the forefront of our decisions.

How We Measure Customer Satisfaction

NAVEX Global uses two customer satisfaction surveys. The first is a Net Promoter Score (NPS) to gauge overall customer satisfaction . The second is a customer satisfaction survey conducted after each major support engagement/project (such as initial implementation, upgrade or expansion) and after each Customer Support case or inquiry. We use the results from each survey to identify satisfaction trends and develop strategies for continuous improvement.


Proud of Our Scores

Our Quarterly NPS Score is +42

Our Overall CSAT Score is 95


These satisfaction measures are further supported by a formal Customer Success Management (CSM) program. Customers in this program are assigned a customer success manager whose focus is to maximize the value and satisfaction of our products and services by partnering with our customers to achieve their desired outcomes.

Thank You, Valued Customer

We recently celebrated the launch of the NAVEX Academy, a new learning portal for our customers that is fully integrated with the NAVEX Global Community. Administrators will access the NAVEX Academy to engage with dynamic, self-paced education content designed to support their adoption of NAVEX Global solutions.

You must put yourself in the customer’s shoes, understand their needs and act accordingly. You must earn your customer’s trust.

Also, nominations are now open for our new annual NAVEX Global Excellence Awards. The awards honor those customers that set high standards for ethics and compliance, integrated risk management, or environmental, social and governance programs – those that set themselves apart by demonstrating exceptional results and positive impact on the business.

Empirical evidence suggests that, in 2021, companies will orient themselves toward customer value metrics that reflect care and trust. I take pride in working for a company that continues to help our customers in ways that let them know they are important to us.

View original article at Risk & Compliance Matters

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