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Understanding the value of Closed Loop Reporting

Calculate your ROI with this Excel-based Return on Customer Retention Estimator
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What is Closed Loop Reporting (CLP)

Closed Loop Reporting is any reporting that is done by a business (or silo within a business) where the generated information is tabled to the intended audience, the audience acts upon the information within the original report, and they then report back to the originator of the data as to what has happened or will happen as a result of their report.

I will show you a “visual” of this reporting style. The usual stream reporting process sees reports being created and sent on to their intended audience with no feedback, as detailed below.

In contrast, the closed loop reporting model sees the report audience having  the responsibility to come back to the originator of the information and advise what has happened as a result of their original report.

Why is Closed Loop reporting so important?

How often have you created and published a report yourself and passed it onto your manager never to hear what outcomes or changes resulted from the information you provided?

Imagine if this was done time and time again?  It would be difficult to remain encouraged to continue to produce the report or even capture the data?

This is particularly true in a Call Centre or Direct marketing environment where reports, data and transaction information abound.

Closed loop reporting not only acknowledges the value of, and need for the original report, it also lets those that have helped create it, or the resources supporting creation, understand the importance of their actions and the effects they can have on the outcomes.

Once again closed loop reporting empowers, motivates, and drives people towards business success.

It is also a tool to ensure people are accountable for their roles and responsibilities.

I've created an Excel based Retunr on Customer Retetnion Estimator so you can  perform ROI calculations on investments in Customer Retention. Download it Here

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