Customer Success Story

Customer retention issues resolved through counter-intuitive customer segmentation scheme

Situation: Increasing customer retention and turnover issues causing major concern

Approach: Use primary, independent research to identify root-causes for

Solution: Choreograph customer data into insight intelligence leading to a targeted customer and operations segmentation

Benchmarking

 

Confida provides benchmarking consulting services as an adjunct to its Performance Management offerings.

Being able to measure progress internally is a key attribute of high performance, but top-quintile organizations must be able to readily measure progress versus the marketplace. Occasionally organizations get blindsided because they think they are performing well when looking at internal metrics only to find out later that competitors have performed even better over the same time period. Using market metrics is thus an effective "sounding board" to ensure organizational performance is in line with the market place.

The process of obtaining these external metrics is often difficult - measurements are not easily available and those that are available are not accurate. Benchmarking, however, does provide a structured solution to identify, albeit sometimes qualitatively, how other organizations are performing. Benchmarking is the process of identifying best practices from external groups and organizations. After these best practices are understood and internalized, they can then be adapted to help an organization improve its business performance. One can benchmark versus competitor organizations, companies in complementing industries or versus best-in-class enterprises worldwide.

Confida uses a combination of publicly available data sources and primary data collection (i.e., interviews) to provide benchmarking information. Our consultants have many years of experience diligently collecting primary data for various strategic studies including benchmarking analyses. We believe that our ability to collect, valuable primary data supplemented by anecdotal pieces and presented in an easy-to-discern format provides a uniquely valuable benchmarking offering.