Enterprise Feedback Management | Product Management Glossary

What is Enterprise Feedback Management (EFM)?

Enterprise feedback management (EFM) is the system of processes and products used to capture, analyze, and organize customer feedback at an enterprise-level organization.

Enterprise feedback management allows users to become inextricably linked to the product development process--thereby increasing customer satisfaction by emphasizing customer-centric product development. EFM is a systemized way for enterprise businesses to consider customer ideas, frustrations, trends, or requests and build products that delight them.

EFM also provides organizations with actionable insights to build products that benefit their users, help achieve their business goals, and respond to market trends. It is particularly beneficial for larger organizations that wish to develop an understanding of their customer base but has sticky parts of their workflows like complex customer segments, disconnected communication channels, and a firehose of feedback.

Benefits of Enterprise Feedback Management

EFM software unlocks product opportunities by improving transparency and opening up user dialogue. It directly benefits product management and development but inadvertently can help other business areas like customer acquisition, advocacy, and retention.

Although an EFM solution has many benefits, a business should anticipate seeing:

Newly found clarity to their product strategy
An increase in internal alignment around business goals and product vision
An upsurge in engaged customers
An uptick in usability and feature adoption
Revealed gaps in customer onboarding and support

Enterprise Feedback Management Software

The main goal of an EFM product is to help businesses save time, money, and other precious resources by managing customer feedback. An EFM solution should be helpful throughout the whole product development lifecycle. A good EFM solution should include the following:

Streamlined Feedback Collection: Capturing all customer feedback in one place helps surface your most valuable product opportunities, and fosters a shared understanding of customer needs.
Analytics: An EMF solution should enrich customer data with business intelligence to make prioritizing a much more straightforward process.
Customer Insights: Vote counts, importance ratings, and customer conversations should all be present in an EFM solution.
Integrations: Aligning with tools already in your workflow saves time and mitigates redundancies.
Product Research: Good EFM software should allow businesses to prioritize ideas under consideration easily, validate whether a feature will be worth the build, and seek out ways to improve existing functionality.
Customer Segmentation: Powerful filtering options help businesses understand customer retention and churn, allowing them to make confident product decisions.

Enterprise Feedback Management is suitable for any organization looking to deepen their customer relationships through the power of customer feedback. An EFM solution helps businesses get a complete picture of how customers use and feel about their product. With customer feedback and product analytics, companies get a clear view of the feedback they receive and the impact each suggestion may have on their product.

Interested in discovering more about Enterprise Feedback Management? Learn more here.