It’s official: when it comes to customer relations, the days of relying solely on salespeople and evangelists to build trust with your customers are long gone. In my time as a senior executive at various companies, as well as a consulting partner with Accenture, I’ve witnessed a shift in how vendors engage with their buyers, and in turn, how buyers engage with their vendors.
Research tells us that nowadays a buyer has completed up to 80% of the “buyer journey” before ever interacting with a salesperson. Companies that once relied on “wining and dining” potential customers are now finding themselves in a sales slump, and buyers who don’t make their voice heard to their vendors are consistently left disappointed by those vendors’ product releases and business strategies.
https://www.informationweek.com/strategic-cio/it-strategy/collaborative-design-let-the-customer-guide-the-way/a/d-id/1332218/
Knowing how to gather and use customer feedback is what can eventually turn a small business into a multinational corporation, and there are statistics to prove it. Customer feedback can have the similar impact on the auxiliary services on college campuses as well. As we all know, loyal customers can grow a business much faster than regular sales or marketing can. It is because it’s 5 to 25 times more costly to acquire a new customer than to keep an already-existing one happy. Secondly, the no.1 source of new leads is customer referrals. And lastly, loyal customers purchase 90% more and spend 60% more than new customers.
While these statistics don’t mean that you shouldn’t be trying to get new customers, they do, however, reinforce that keeping your existing customers and students happy makes good business sense. And to do that, you will need to center your entire business strategy on customer feedback.
So, here is the most efficient way to build a long-term strategy around customer feedback.
https://www.touchwork.com/how-to-build-a-long-term-strategy-around-customer-feedback/
Are you getting the most out of your customer feedback? How can you ensure your feedback will transfer to solid actionable insights that make a difference to your business?
Here, I share some common mistakes I’ve seen companies do when collating and analyzing feedback, in my role as CEO for Thematic, and beyond. Make sure you’re not committing these faux pas. Once you’ve got the deep insights that are also accurate, they can transform your business strategy.
The biggest mistakes you don’t want to be doing:
http://customerthink.com/12-big-mistakes-when-collecting-and-analyzing-customer-feedback/
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