“The basic of business is to stay as close as possible to » your customers,” said Indra Nooyi, former CEO of Pepsi Co, “understand their behavior, their preferences, their purchasing patterns, etc.”
When Nooyi said this, she was touching on what should be the chief driver for innovation and growth in businesses of any size: customer feedback.
Customer feedback is one of the most important and valuable sources of information for improving retention rates, outlining marketing and sales strategies, directing product development and accelerating business growth.
https://www.newbreedmarketing.com/blog/how-to-translate-customer-feedback-into-action/
Running a business is no easy task. What distinguishes a successful business from an unsuccessful one? The answer is very simple. Businesses who have tasted success keep customers as their focal point. This revelation comes as no surprise since the different metrics that were used to calibrate success like revenue, customer retention, and churn narrates only bits and pieces of the entire story.
https://medium.com/survey-tips/voice-of-customer-tools-why-is-it-critical-to-your-business-a3844d905395/
It’s a dog-eat-dog world out there in the eCommerce industry. Online retailers face tough competition when it comes to offering a good customer experience and winning over the loyalty of their customers. And the truth remains that while striving for the much-sought-after “perfect customer experience”, there are many struggles these retailers still go through on a daily basis that hold them back.
https://mopinion.com/is-digital-feedback-the-solution-to-all-online-retailer-struggles/
There's been a lot of talk lately about customers having the power and being in control. In a world where brands are trying to develop relationships with their customers, what does that really mean? Do customers want to be in relationships with brands? Do they want to be in control? Should brands be in control?
First things first: a refresher. What is the customer experience? I define it as the sum of all the interactions that a customer has with an organization over the life of the relationship with that company. More importantly, it's the feelings, emotions and perceptions the customer has about those interactions.
https://www.forbes.com/sites/forbescoachescouncil/2019/03/05/do-customers-really-want-to-be-in-control/
Salespeople should stop looking at feedback as complaints. They tend to attach a negative aspect to it, so they are rarely happy to get it. But in fact, feedback is essential to their success, even when it truly is negative. Why? – Because it teaches you where you need to make improvements in your offer.
According to survey findings by ReviewTrackers, 53.3% of customers expect businesses to respond to their reviews within a week. Chatmeter found that failing to reply to reviews will increase the customer churn by up to 15%. We’re talking about online reviews here, but we can safely extend those expectations to the feedback that customers give for any products they purchase.
As a salesperson, you should never ignore feedback data. In fact, you should ask for it. But how should you collect customer feedback, and how should you analyze it? You should have a methodical approach to this. Let’s start by listing the main questions that you should ask when collecting and analyzing feedback data.
https://salespop.net/sales-professionals/7-questions-to-consider-when-analyzing-customer-feedback/
If you are reading this article, my guess is that you are already on board with customer feedback. You have recognised the value of having a strong feedback programme and you’re well aware of what it can do for your websites and mobile apps – as well as your brand as a whole. However, for you (and most other organisations), it’s not a question of whether you should start collecting and analysing customer feedback, but rather how to get your teams on board with the idea and contributing to the effort.
https://mopinion.com/getting-your-team-on-board-with-customer-feedback/
I’ve talked with many CX practitioners who agree that we sometimes flip the age-old saying: We don’t see the trees for the forest.
By that I mean how easy it is to become so focused on the big-picture organizational aspects of CX work—changing processes, building new programs, studying company metrics on customer satisfaction—that we overlook or take for granted the one-on-one aspects of CX. The challenge increases the more a CX program grows and the more we involve the entire organization in our work.
Are our employees communicating appropriately with customers? Do they have skills for turning around an unhappy customer? Do they listen—really listen—to what our customers have to say?
https://customerthink.com/one-on-one-cx-5-tips-to-ensure-first-responders-are-great-with-customers/
Net Promoter Score (NPS) is a method to assess customer loyalty, and many businesses today consider it to be an important metric. But NPS is far more useful than just a number on a page. In fact, your NPS score is just the beginning. What truly matters is what you do with your NPS survey results. Once you’ve identified your Promoters, Passives, and Detractors, do you know how to follow up with them?
https://www.business2community.com/strategy/how-to-follow-up-with-nps-detractors-promoters-and-passives-02172684/
As firm owners, we often believe that when clients are paying our bills, it must mean they are happy with our services. But there are better ways to get a sense of client satisfaction than reviewing our accounts receivable aging.
What if we could eavesdrop on a conversation our client was having about us with another business owner? Are they recommending us? Maybe they’re actually complaining about us. While it’s never comfortable imagining what conversations are being said about us, pretending like those conversations are not happening is not a good option.
So, here are seven ways to know what our clients really think about us:
https://www.accountingweb.com/practice/clients/7-ways-to-find-out-what-clients-think-of-you/
50% of the customers say that they switch to a different brand if their needs aren’t met.
On the contrary, customers wouldn’t change their mobile network operator over a single incident of bad connectivity issue. Similarly, even when a customer has to struggle for months to get a wrongly debited payment from their account, they are less likely to stop doing business with that bank.
While increased expectations have led customers to frequently switch brands, there are certain industries like real estate, banking, and telecom where customers stay loyal by default. Why?
https://www.business2community.com/brandviews/freshdesk/whats-stopping-your-customers-from-switching-brands-loyalty-or-lack-of-choice-02175209/
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