Lithium Technologies announced an expansion to its analytics portfolio that adds Value Analytics and Lithium Cohort Benchmarking. Building on the industry-leading Community Health Index (CHI), Value Analytics is a data-driven approach for brands to measure the results of community experience on their customers and gauge the community’s overall impact on their business.
Value Analytics gives customers deep insight into community performance by serving up both marketing and service/support data including Net Promoter ScoreSM (NPS®), customer satisfaction (CSAT), and call deflection. Lithium Cohort Benchmarking empowers brands to benchmark their community performance against similar brands by geography, industry and maturity using a series of different metrics including unique visitors, replies and solutions.
“For years businesses have been wrestling with knowing they need to have a strong social presence, but not having the right numbers to quantify the business impact of their social strategy,” said Rob Tarkoff, President and CEO of Lithium Technologies. “Using data gleaned over the last 14 years from our 400+ communities that see around 100 million unique visitors per month, we can outline best practices for our customers to get the most out of their communities. This is all backed up with our new ability to provide customers meaningful data like CSAT and NPS, and give them the ability to benchmark performance against a relevant peer group.”
Pulling data from a survey hosted within the community, Value Analytics gives brands the ability to:
- Calculate call deflections generated by the community
Assess user satisfaction with the community experience (customer satisfaction)
- Measure impact of the community experience on likelihood to refer (using Net Promoter Score®)
- Quantify the success rate of user visits and how this impacts customer support costs
- Identify high-performing areas of the community and areas that offer opportunities for improvement
- Take advantage of Lithium’s proven expertise to develop short term tactics and long term strategies that ensure the Community is driving actual business results
Lithium Cohort Benchmarking pulls data from 400+ communities – one of the largest digital footprints in the world – so brands can benchmark by geography, industry and maturity the following:
- 14+ community-specific KPIs, such as unique visitors, replies, and solutions
- Net Promoter Score, customer satisfaction and call deflection
Rounding out the remainder of the analytics offerings are Lithium Social Intelligence for measuring overall community activity, and LSW Shared Dashboard/Monitor Wall for creating tailored views of the data and visually sharing it across the organization.
“Our Community is a cornerstone of the HP support site, which receives over half a billion visits every year,” said Kriti Kapoor, Global Director of Social Customer Care at HP. “Given this high volume, it’s essential that we’re continually looking to improve the customer experience and the new Cohort Benchmarking does just that by drilling down into exactly what adjustments we need to make to our Community – often at the feature or page level – to stay ahead of the game.”
Value Analytics is available immediately, and all Lithium Community customers have access to it in version 15.10 or later. There are no additional fees for Value Analytics. Lithium Cohort Benchmarking is also available immediately through the Lithium Customer Success organization.