Honesty, openness, and transparency are three words that are shaping customer behavior in the 21st century. With the appearance and widespread use of the internet, there seem to be no secrets anymore. Online customer product reviews and social media posts have made it so that customers can air everything from accolades to complaints to everything in between.
Companies that do a good job of responding to online customer feedback reap certain rewards. However, companies that don’t respond to online customer feedback or who do so poorly are at risk for perpetuating a negative perception of their business. People who feel that their opinions do not matter or have no idea if their feedback is received will be discouraged from sharing feedback again in the future. Worse, they may walk away from your business altogether.
Managing customer feedback openly is not just good customer service, it is good marketing as well. Here’s why:
http://www.touchwork.com/why-transparency-with-customer-feedback-is-good-marketing/
The Net Promoter Score (NPS) measures how customers feel about a company, brand, product or service. The initial research in 2003 that led to the NPS metric asked customers a series of questions designed to elicit their feelings about the company. The researchers, Fred Reichheld of Bain & Company in collaboration with the company Satmetri, wanted to find a question that would correlate with real-world customer behaviors. For instance, for a company to grow, it needs customers who recommend the company to others; customers who become repeat buyers; customers who don’t constantly shop around for the best price. The researchers tested many questions with customers, trying to find the one question that would identify those most desirable and engaged customers.
https://www.business2community.com/customer-experience/how-important-is-it-to-measure-your-net-promoter-score-nps-02115530/
The average customer is online pretty much all the time, creating an abundance of data for today's businesses. If marketers aren’t using that data to offer more efficient experiences, it might be time to ask what it’s for in the first place. Here are a few ways brands have stopped sitting on their data and actually used it to solve some of the industry’s most annoying problems.
https://www.clickz.com/3-ways-using-data-solve-customer-problems/
There are many places you can go wrong in constructing and delivering a customer satisfaction survey that can keep you from getting an accurate picture of your customer experience. And most companies do go wrong in their survey design and delivery–often in multiple ways. (Alarming but true: If you send out a defective survey, it might be worse than not surveying your customers in the first place, because of the risk that the data you get back will be invalid but nonetheless used to guide company strategy.)
https://www.forbes.com/sites/micahsolomon/2018/05/25/customer-experience-surveys-13-tested-scientific-best-practices-i-bet-youre-doing-5-or-more-wrong/
According to a survey conducted by CPL, 33 percent of companies ignore online reviews. One of the main reasons for this is a debilitating fear of negative feedback. Because of this, they try to remove negative reviews or bury them within their positive reviews.
That’s not exactly a great strategy when you’re looking to grow your business. You need to have both positive and negative reviews.
For starters, reviews prove you’re authentic. I would be skeptical of an organization that had zero negative feedback. We’re all human, and it’s impossible to avoid making the occasional mistake. Customers also use reviews to make purchasing decisions. This is especially useful if they have never heard of you and want to do a little research before deciding to support your business.
But that’s just the tip of the iceberg. Instead of fearing negative feedback, you can also use it to increase your organization’s productivity.
https://www.business2community.com/strategy/dont-fear-negative-feedback-use-it-to-increase-productivity-02113407/
For every company, customer satisfaction should be one of the major objectives in their daily operations. It motivates customers to stick to your brand, buy from you and not your competitors.
According to Vision Critical, customer service will be the key brand differentiator by 2020 instead of price or product. Right from the time human beings started doing businesses, companies have been trying to satisfy their customers in order to keep them loyal and increase their customer base. However, with new digital marketing tools, it’s now easier to satisfy your customers with better and faster service. And it’s cheaper too in the long term.
What are the five important steps to take to improve customer satisfaction with digital leadership?
https://www.entrepreneur.com/article/319462/
Customer feedback is the essential unlimited source for development and inspiration for the whole company. As mentioned by Lincoln Murphy, “You can focus on adoption, retention, expansion, or advocacy; or you can focus on the customers’ desired outcome and get all of those things.”
In this article, I won’t tell you how important it is to act on customer feedback (although if you’re interested, check this article on how to collect customer feedback), but rather share with you the real cases how our companies big and small improved their business KPIs, strategies and culture once they understood the voice of the customer.
http://customerthink.com/5-real-cases-how-customer-feedback-influenced-business-performance/
As a business owner, feedback is everywhere. There’s feedback coming from your customers, your employees, your management team, and even your friends and family. However, in a world where everyone has their own opinions and individual preferences, it’s hard to know who exactly to listen to – especially when you might receive contradictory feedback.
As I’ve come to learn, getting feedback is only half the battle. In fact, it’s the easy half. The far taller task lies in determining what feedback is worth listening to and when it’s better to simply ignore it. From having to make these decisions myself, here are 8 scenarios where it’s actually okay to turn a blind eye to the feedback coming your way.
https://www.business2community.com/human-resources/8-scenarios-where-its-actually-ok-to-ignore-feedback-02114845/
The Customer Effort Score (CES) is a metric that quantifies customer loyalty. It measures how much effort a customer has to expend to obtain an answer or solution to a problem. The CES metric is used in two ways. The first asks how much personal effort the customer expended to resolve his or her issue. It’s often reported on a scale of one to five, where one refers to the least effort and five the most. Using this format, you want as low a number as possible.
The second format of the CES metric asks customers to agree or disagree with a statement that solving the problem took little effort. In this format, customers who choose five “Strongly Agree” that it took little effort, while those who choose one “Strongly Disagree.” Here, your goal is to achieve the highest number possible.
https://www.business2community.com/customer-experience/monitor-your-customer-effort-score-ces-to-determine-customer-loyalty-02111647/
Working towards a robust VoCA program can clearly separate customer experience leaders from laggards. According to Forrester, customer experience leaders grow revenue five times faster than CX laggards, drive higher brand preference and brand referrals. A Harvard Business Review article “How the Meaning of Digital Transformation Has Evolved” also backs the measurable value of a VoC strategy: Top performers in a (PwC) survey—those reporting revenue growth and profit margin increases above 5% for the past three years and expected revenue growth of at least 5% for the next three years—have a better understanding of the human experience that surrounds digital technology. These companies prioritize user experience specialists and creating better customer experience through their digital initiatives.
https://www.analyticsindiamag.com/voice-of-customer-analytics-describe-prescribe-and-predict-your-customers-journey/
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