What is PRISM?
PRISM is a system for measuring and managing customer satisfaction while also monitoring the market landscape and your competitive position.
How does it work?
It uses a series of frameworks combined with survey data from your customers and your competitors’ customers to provide ongoing data on customer decision-making with the same rigor as your financial data.
When should we use it?
If you find your customer satisfaction system - such as NPS - leaving you without traction, PRISM will ignite a whole new level of confidence in your ability to create value for customers. If you don’t have a customer satisfaction system, NOW is the time to measure and manage the most important function of your organization: creating value for customers. This is the only sustainable path to profit.
Where did it come from?
Building upon a time-tested framework called Customer Value Management (CVM), The Langston Co has added our own expertise in human behavior and the latest research techniques to ensure PRISM offers a combination of battle-proven methodologies with the most up-to-date methods.
How PRISM Measures, Monitors, and Predicts Behavior
Beneath the PRISM framework is a simple truth about human behavior - People buy and do things that they perceive are worth what they put in.
When you look closely, you’ll notice the concept of worth playing a role in every decision:
“Having kids is challenging, but that feeling you get when they say “I love you” makes everything worth it.”
“A graduate degree will be expensive and put a pause in my career. But will help me advance a lot faster once I have it. I just can’t decide if it’s worth going after.”
“I love that brand. Their stuff is a little expensive but it works so well that it’s totally worth the extra cost.”
This simple truth allows us to understand volumes about people’s decisions.
Because the concept of worth reveals the equation people are performing to determine their behaviors.
There are two sides of worth - what you put into it and what you get out of it. In a product, its Price vs. Quality. In a job, its The Pay vs. The Work.
Each side of this equation breaks into more detailed attributes, which we can quickly use to construct a comprehensive - yet simple - understanding of all the factors that influence decisions.
We can do a lot with this simple equation.
Langston’s team is equipped with our proprietary techniques to measure every factor. We can tell you how much each factor of worth matters, how well your company is performing on that factor, and how it stacks up against your competitors.
If people are involved, PRISM applies
The patterns of human decision-making apply to customers, employees, investors, constituents, residents, business owners, and every other role that people play. PRISM combines a number of time-tested techniques for measuring and monitoring the value that people create and experience.
Our flagship PRISM products are customized to emphasize the specific nuances of each application. Its time to implement a system that gives you information you can really use to measure, manage, and deliver value.
Customers are the backbone of every business model. Attracting and retaining profitable customers requires you to understand exactly which parts of your offering are creating driving purchase decisions. PRISM will tell you what matters to customers and how you’re doing on each element. It also provides all the same metrics on your competitors, so you know where you stand in the competitive landscape. Know where to focus on improvements. Know where to focus on messaging. Create competitive advantage.
Gone are the days of low-impact employee climate surveys. PRISM for Employees goes way beyond job satisfaction - we help our clients understand exactly what creates value for employees in their organization, how well they're doing, and what to do next. And all of our insights are framed in the context of your competitors' performance - because attracting and retaining talent is a competitive game.
The biggest threat to successful acquisitions is uncertainty. When you consider making an investment in a smaller enterprise, you can evaluate financial statements, legal standing, and the team’s credentials with traditional diligence products. PRISM allows you to quantitatively evaluate the target’s customer loyalty and competitive position in the market. The framework shows you which elements are driving real differentiation in the market and how the target compares to competitors on each elements. Through this, it predicts customer retention and future customer acquisition costs.