RETURN ON INVESTMENT of Effective Complaints Management
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1 RETURN ON INVESTMENT of Effective Complaints Management March 2018 REPORT SUMMARY
2 Contents Foreword... 3 Introduction... 4 Calculating the ROI... 6 The ROI Equation... 7 Private Versus Public Organisations... 9 Hypothetical Scenarios: ROI Calculated Extended Benefit Managerial Implications SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 2
3 Foreword Throughout 2017, a research team from the University of Newcastle collaborated with the Society of Consumer Affairs Professional Australia (SOCAP) in undertaking a research project which investigated the Return on Investment (ROI) of effective Customer Complaints Management (CCM). The research team studied the complaints management processes of two participating organisations and analysed de-identified and aggregated complaints data from these organisations. Hypothetical scenarios where then used to compute the ROI of effective CCM with the help of the data provided by the organisations and estimates derived from previous research. The ROI calculations for the hypothetical scenarios showed that the greatest ROI occurs when there is extended benefit generated from the CCM process. Extended benefit is derived from improvements of the organisation s people, process and products, and includes benefits such as customer satisfaction, customer retention, increased Customer Lifetime Value (CLV), positive Word-of-Mouth (WOM) and greater staff satisfaction. This study makes an important first step in delivering a framework to assist organisations to verify once and for all that complaint departments are not merely cost centres. On the contrary, the positive ROI illustrations in this study clearly indicate the substantial financial returns to the organisation when effective CCM is delivered, particularly when extended benefit is generated. SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 3
4 Introduction Most medium to large organisations commit significant resources to the development of sophisticated management systems to resolve consumer complaints, however, organisations tend to collect only basic case management material. Although this information is useful in exploring how complaints systems operate, existing data collection tools do not usually measure the less tangible financial impacts of complaints processes. These processes may include executive time devoted to addressing complaints, the retention or loss of customer loyalty, and an improved or reduced public image of the organisation. These costs and benefits can be significant, and few organisations appear to understand, or consider, how their complaints systems and processes can influence their reputation or profitability. In addition, the extent to which complaints can be escalated and end up in an external dispute resolution or litigation system (with associated direct and indirect costs) is not well explored nor understood. Finally, a greater awareness of the reasons for, and consequences of, complaints should serve as an incentive for organisations to improve their products and services. This project explores ways of more effectively tracking both the tangible and intangible costs and benefits of CCM, thereby enabling the calculation of a meaningful ROI. The outcome informs how organisations should effectively address complaints, which will also benefit the 6 million or so people who make complaints in Australia each year. SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 4
5 SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 5
6 Calculating the ROI An overall measure of the ROI for CCM organisation would provide some indication of the overall effectiveness of the CCM process, and therefore could be useful in arguing for adequate resources for the management of complaints. However, data for calculating the ROI is often difficult to obtain. Aggregate cost data can be obtained readily, for example, total operating and on-costs for complaints staff, but it is more difficult to identify and measure the benefits of complaint resolution. Hence, calculating the overall ROI requires a complaint by-complaint approach. SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 6
7 The ROI Equation The limited complaints literature recognises that the ROI of complaint management can be expressed in terms of the benefits and costs of complaint management, however, the variables that comprise these benefits and costs differ between studies. Some studies consider only the tangible economic costs (i.e. the costs of employees who manage complaints and compensation to complainants) and benefits (i.e. repurchase benefit and increased stock returns) and they do not cover the less tangible economic costs and benefits, such as infrastructure costs, negative or positive word-of-mouth, damaged or enhanced brand equity, and employee retention or defection. We make the distinction between direct costs which can be readily measured, such as compensation costs (e.g. a refund) and escalation costs (e.g. legal fees) where a payment is made in respect of each complaint, and those indirect costs, such as those associated with administration, personnel and communication. SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 7
8 Previous studies have measured customer retention, repurchase value (the value of future sales from a retained customer) and stock returns, in order to quantify the benefits of complaints management. Other benefits, which are more difficult to monetise but may be just as significant in terms of long-term prosperity of the organisation, include customer advocacy (incorporating positive word-of-mouth), staff retention, and process, service and people improvements (which have the potential to be derived from customer feedback obtained during the complaint process). SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 8
9 Private Versus Public Organisations The complaint management processes of private and public organisations are very different. Private companies may not be exposed to the same level of parliamentary scrutiny and public accountability as public firms. However, they are exposed to competitive forces and the constant battle for market share. For this reason, customer retention and repurchase value are key benefits of effective complaints management. On the other hand, customers of public organisations who experience unsatisfactory CCM processes and outcomes typically cannot withdraw from their relationship with the organisation. There are no competitors for the customer to switch to and no opportunities for the organisation to increase customer retention, customer loyalty and repurchase benefit, nor to increase stock return levels. Instead the alternative benefit for public organisations is the compliance benefit, which has the potential to lower organisational costs and increase productivity. SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 9
10 Hypothetical Scenarios: ROI Calculated Due to the limited data currently collected by the participating organisations, it was useful to compute the ROI of effective customer complaint management using some hypothetical scenarios using company data and estimates based on the literature. The following are a selection of scenarios, chosen to demonstrate a range of ROI. Hypothetical Scenario A: Insurance Company Example Cost of CCM Indirect Costs Table 1: Hypothetical A: Return on Investment Personnel: 37.5 hours@ $42 per hour +30% oncosts 25 hours (reduced number of complaints) = 12.5 hours $ Communication: $1, Administration: Office space and equipment is $ per staff member per week (12.5 hours). $79.24 Staff Recruitment & Training: No additional training, so imputed cost of $3.52 per complaint $3.52 FoS membership fees Per complaint $17.39 Total Costs $ Benefits of CCM Repurchase: MN p = $100*100,000*0.002 $20,000 Total Benefits $20,000 ROI 100*(Benefits Costs)/Costs = 100*(20, )/ % SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 10
11 Hypothetical Scenario B: Insurance Company Table 2: Hypothetical B: Return on Investment Cost of CCM Indirect Costs Personnel: 60 $42 per hour +30% oncosts $3,300 Staff Recruitment & Training costs of $1000, plus imputed cost of $3.52 per complaint. $ Training: FoS fees $17.39 Total Costs $4,320.9 Benefits of CCM Repurchase: 2*(w-w r)m(c/s)/(1+r) = $(2*0.1)*100*800/(1.05) $7,619.1 Extended Benefit: See discussion in text. 0 Total Benefits $7,619.1 ROI 100*(Benefits Costs)/Costs = 100*( ,320.9)/ % This example demonstrates that a high ROI can be achieved by promptly addressing complaints. In this Hypothetical, no account has been taken of the reduced flow of complaints to staff, following the training of the staff member. SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 11
12 Hypothetical Scenario C: Food Manufacturer Table 3: Hypothetical C: Return on Investment Cost of CCM Indirect Costs Personnel: 30 $42 per hour +30% oncosts $1,650 Communication: Contacting contractor $10.00 Administration: Office space and equipment is $ per staff member per week (37.5 hours). Direct Costs Settlement: 18 packets of biscuits to 3 complainants packets sampled for $1.50 (margin) per packet $190.1 $ Advertising: 13 $2000 per week $25,825 Total Costs $28,002 Benefits of CCM Repurchase: Difference in discounted $ value of sales $167,038 over 12 months *2 = $83,519*2 PWOM/Advocacy Already accounted for in repurchase. Extended Benefit: 0 Total Benefits $167,038 ROI 100*(Benefits Costs)/Costs = 100*(167,038 28,002)/28, % SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 12
13 Extended Benefit From the three scenarios outlined above it is evident that ROI can vary significantly, depending largely upon the impact of the complaints process. The scenario which reaped the highest ROI was Hypothetical A, which produced a ROI of over $10 for every $1 invested in CCM. This ROI was so substantial because the customer s feedback was used to evoke a minor organisational improvement which had major consequences. In this scenario, the customer s suggestions (which informed improvements on how customers were communicated with regarding premium increases) resulted in increased customer satisfaction, reduced switching behaviour and fewer customer complaints regarding premium increases. Using conservative estimates, explicit account was taken of those customers who would have exercised exit by switching to another insurer, if better information had not been provided about the premium increase, but would not exercise voice (complain). Extended benefit was possible in this scenario because of the organisation s progressive complaint culture which facilitated the marketing intelligence gleamed from complaints to be captured and fed into the continuous improvement of the organisation s people, processes and products. The extended benefit includes customer satisfaction, customer retention, increased CLV, positive WOM and greater staff satisfaction. It is evident that many organisations have a knowledge gap when it comes to identifying, recording and measuring the extended benefits that can arise from effective CCM. Conversely, some complaints will have a low ROI (incorporating little or no extended benefit), which can be calculated by considering the probable costs incurred by the organisation in the event that the complaint is not effectively resolved. Complaints in this category might include minor complaints that are unlikely to be escalated but which may have other measurable impacts. In addition, as we have considered effective rather than ineffective complaints management it follows that ineffective processes may result in significant losses for an organisation while, effectively managed complaints, especially where extended benefit is realised, result in a more significant ROI. SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 13
14 Managerial Implications The following recommendations aim to assist organisations 1) increase their capacity to measure and monitor their ROI; and 2) maximise their ROI, through harnessing extended benefit. Behind the Research The research team comprised of: Professor Tania Sourdin Dean of the University of Newcastle Law School; Professor Martin Watts Emeritus Professor of Economics and Research Associate of the Centre of Full Employment and Equity at the University of Newcastle; Professor Alison Dean Emeritus Professor of Service Marketing and Management, University of Newcastle; Dr Jamie Carlson Head of the Marketing Discipline at the Newcastle Business School; and Christine Armstrong Researcher, Sessional Lecturer and PhD Candidate at the Newcastle Business School. The University of Newcastle collaborated with the industry association for Australian complaint management professionals, Society of Consumer Affairs Professional Australia (SOCAP), on this research. Guidance was also provided by a steering committee, comprised of SOCAP members including NSW Ombudsman, NSW Fair Trading, Icon Water, IAG and NZ Ombudsman. The research team would like to thank the SOCAP Board and the Steering Committee for its feedback and assistance during the development of this report. The involvement of SOCAP and the Steering Committee provided the research team with insights into current complaint management practice, which have enriched the practitionerrelevance of this report. SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 14
15 SUMMARY: Return on Investment of Effective Complaints Management 2018 SOCAP & UON 15
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