Positive online reviews from customers help small businesses stand out, and generally give business owners a feel good factor. But a recent survey released by online services marketplace, ServiceSeeking, reveals just how badly negative reviews sting.
https://www.mpamagazine.com.au/sections/business-strategy/customer-feedback-drives-business-and-brings-in-the-money-251047.aspx/
Customer feedback has become increasingly important as time progressed. The days of customer complaints or praise remaining in-house are long gone. Thanks to the ubiquity of the web, it is easy for customers to make others aware of their experiences and opinions. In particular, customer feedback has become essential to managed services marketing. Take advantage of customer feedback and it will be that much easier to convince prospective clients to pay for your services.
http://mspbusinessinsights.com/customer-feedback-important-managed-services-marketing/
Unsatisfied customers are probably costing you a lot of money.
The first step to overcoming this is to admit that you have room for improvement. The second step is to measure customer satisfaction to find out where you currently stand.
Measuring customer satisfaction doesn’t have to be complicated or expensive. In fact, it’s fairly simple to incorporate customer satisfaction measurement into your current customer success strategy.
https://blog.hubspot.com/service/how-to-measure-customer-satisfaction/
Predicting the future is tough, so we decided to talk those who are shaping it. Dave Fish, founder of CuriosityCX and Michigan State University visiting lecturer partnered with Brian Keehner of the Michigan State master of science in marketing research program to interview more than a dozen of the sharpest technology minds from global enterprise feedback management firms to get their take on the future.
What are some of the big strategic bets the major players are making in the CX space? There was quite a bit of agreement, but also some noticeable divergence on the vision for the future. That spanned from data collection and ingestion, all the way to how to help clients take action. Here are the six key discussion points from our conversation.
http://customerthink.com/6-big-trends-driving-the-future-of-cx-technology/
Customers play a very important role in any business. They determine the growth potential of the company by sharing a better picture of what’s working and what’s not. Therefore, entrepreneurs should not overlook the importance of customer service. Your business will surely fail if you are unable to meet the needs of today's customers. The service can actually vary from company to company, but the key elements to turn customers into longtime clients are timely responses, open communication, reliability and product knowledge. One should never underestimate the importance of happy customers!
https://www.entrepreneur.com/article/314733/
Customer trust is not only vital in an environment where customer expectations are increasing daily and competition is fierce, it is a brand differentiator that could make or break a business. You only have to look at the recent scandals around Facebook or the Australian Banks to see this happening.
Brand trust as an ‘insurance policy’ against future issues is not a new concept. Most organisations know trust bestowed by the consumer can not only make or break a business, it can also ensure you survive a problem in the future. But few achieve brand trust adequately, preferring to pay lip service rather than delve into what it really means: Authentically caring about customers and their needs.
https://www.cmo.com.au/article/642102/why-customer-trust-more-vital-brand-survival-than-it-ever-been/
Marketers can now utilize data to transform the customer journey and capitalize on consumer behavior. This article breaks down the top five things the best data-driven marketers do and how you can do them too.
Simply put, data-driven marketing is using the information we have on customers to better reach our audience through marketing.
Data utilization has grown from a nice-to-have marketing tool to a must-have strategy. The good news for marketers is that, as data has matured, the amount of information available has grown as well. With audience segments, behavioral data, optimization and feedback, marketers can now use data to transform the customer journey and capitalize on consumer behavior.
https://www.business.com/articles/5-things-best-data-driven-marketers-do/
Many would say Toys R’ Us failed because of financial mismanagement and delusions of grandeur. That’s true.
But it also failed because it didn’t value the opinions of its customers. It didn’t listen to what customers wanted quickly enough, and by the time they acknowledged the problem, it was too late.
Customers needs and wants were evolving with technology. They wanted speed and accessibility online. They wanted great customer interactions and experiences in the stores, and they wanted an emotional connection to the brands they support.
https://medium.com/swlh/gather-customer-feedback-and-use-it-like-your-life-depended-on-it-8cfdf867b9a6/
Customer feedback plays an essential role within organizations, allowing you to obtain invaluable customer data and adapt the delivery of your customer experience accordingly.
Today, almost all companies are conducting customer feedback surveys in order to gain a better understanding of how their customers view their business, products, and services, as often the customer journey as a whole. But the fact is that the CX feedback you’re basing key decisions on, could well be misleading, inaccurate, incomplete, or just plain wrong. It’s not that your customers are lying to you or not ‘coming clean’, rather, the feedback you do get is not giving you the complete picture.
http://blog.genesys.com/how-accurate-is-your-customer-feedback/
Bad or non-existent customer service is proven to cost more than sustainable customer experience management practices. Just look at the statistics:
+After a bad experience with a company, 22% of consumers decreased their spending and 19% completely stopped doing business with a company.
+ Compared to detractors, promoters are 4.2X more likely to buy again and 5.6X more likely to forgive a company after a mistake.
Sound impressive? It does to me. But in spite of this data, only 11% of large companies have strong customer experience programs, and 62% of companies cite inaction on customer experience (CX) metrics as their key problem.
https://blog.hubspot.com/service/customer-feedback-culture/
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