Shifting Agency Priorities: The Crucial Role of Project Sentiment
by Jared Haleck, Kantata
In the dynamic and competitive world of agencies, navigating through economic uncertainties and evolving client expectations requires more than just delivering projects on time and within budget. Kantata and Salesforce partnered with Canam Research to reveal insights that underscore the shifting landscape agencies operate within, highlighting project sentiment measurement and long-term client retention as pivotal factors in establishing a competitive advantage.
Why Project Sentiment is Vital for Agencies
In an environment where 74% of agencies are reevaluating their business strategies due to economic factors, the emphasis has significantly shifted toward nurturing existing client relationships and refining the client experience. As agencies report new client acquisition a top challenge, the lens through which overall success is measured is also evolving. Project sentiment, often overlooked during the project lifecycle, stands out as a critical metric for sustained agency success.
Understanding and Prioritizing Project Sentiment
Project sentiment delves into clients' perceptions and feelings about their projects, influencing their overall attitude toward an agency. It's an external measure contrasting with project quality, which remains an internal benchmark. Despite its crucial role in securing client loyalty and fostering repeat business, agencies often sideline project sentiment until project completion.
So why don’t more firms measure stakeholder sentiment throughout the project lifecycle? For one, sending customer surveys can be time-consuming and difficult. Point survey solutions likely don't integrate with existing workflows or lack automation that can capture information seamlessly. And if survey results aren’t directly connected with project data, it can be hard to understand the entire context responses should provide. This oversight can lead to missed opportunities that align client expectations and enhance client satisfaction throughout the project lifecycle.
The repercussions of not prioritizing project sentiment extend beyond client dissatisfaction; they resonate through potential challenges in client retention and the reputation of an agency. This recognition pushes the need for continuous, real-time project feedback mechanisms that are seamlessly integrated into agency operations, allowing for proactive adjustments and alignment with client expectations.
Leveraging Technology to Measure and Improve Project Sentiment
Given the challenges in addition to a heavy reliance on spreadsheets and manual processes which ¾ of agencies acknowledge could limit their success, the call for innovative solutions is louder than ever. Software solutions purpose-built for agencies offer the necessary tools to bridge these gaps. By integrating quick, navigable pulse check-ins throughout the project lifecycle, agencies can capture invaluable insights into client sentiment. This will help achieve the visibility, agility, and insight agencies need to keep projects aligned with client expectations and deliver value at every stage of the project lifecycle. These types of capabilities are at the heart of Kantata Pulse, a new functionality within The Kantata Professional Services Cloud launching in Fall 2024.
Economic Factors and Client Retention
Economic uncertainties have led 50% of agencies in the survey group to indicate an amplified focus on customer retention as their current top priority. Agencies are recognizing the imperative to not just attract but also retain clients through exceptional project delivery and experiences. Understanding project sentiment plays a key role in identifying areas for improvement, mitigating risks, and ultimately securing a loyal client base. The insights gathered act as a compass, guiding agencies in refining their strategies to meet and exceed client expectations.
Prioritizing Client Sentiment
In the intricate ecosystem of agency operations, client sentiment is emerging as a cornerstone for navigating economic challenges and cultivating enduring client relationships. By harnessing the power of specialized software solutions and embedding continuous feedback mechanisms into workflows, agencies can achieve a deeper understanding of their client's needs and perceptions. Therefore, prioritizing the collection of client sentiment during the course of a project has become a strategic imperative that can propel agencies toward achieving operational excellence, enhancing client satisfaction, and driving sustainable growth.
Source: The State of Agency Operations Survey
Jared Haleck, Kantata