Customer-centric businesses put customers at the core of the business, then make policy and process design decisions centered on the needs of those customers. That customer focus compels naysayers to label customer centricity as an ill-advised business strategy.
What happens, those naysayers ask, when your heart pushes you to take action that interferes with a long and prosperous future?
For example, let’s say you need to raise fees, but your customers disagree. Or you have policies in place to secure and protect your institution’s assets, but those policies feel unfriendly to your customers. How can making a decision that is best for customers also be a smart strategy for your business?
https://www.peoplemetrics.com/blog/an-introduction-to-building-customer-understanding/
f you want to grow your bank by acting on individual customer feedback, your success depends upon a fundamental principle—you have to engage and encourage customers to provide feedback. In this regard, we advise our clients to follow the five tenets listed below. Take note of each, because they'll help you maximize the quality and quantity of the feedback you collect.
Keep your survey short.
The optimum length for a post-transaction survey is two or three minutes. You should be able to get all you need from your customers in that length of time. (Any longer, and we’d argue you're trying to do too much with one feedback channel.)
Read the full article.
https://www.peoplemetrics.com/blog/designing-a-customer-feedback-survey-that-helps-you-and-doesnt-annoy-customers/
Your customer experience management (CEM) system is up and running. You are actively listening to your customers and have an impressive 20% survey response rate. You’re measuring NPS and CSAT, and real-time alerts are coming in. That’s great! All signs point to a successful Voice of Customer (VoC) program.
But wait!
Do your customers know that you’re actually listening to them?
Most CX programs today gather customer feedback data and use it to inform company decisions; but not many are coming back to their customers to let them know that their voice was heard. Every survey response is a chance to either improve on a not-so-great experience, or to reinforce and continue building upon an already stellar experience.
Your survey-taking customers are likely out there in the world wondering what ever happened to the feedback they sent you.
https://www.peoplemetrics.com/blog/are-you-there-company-its-me-your-customer/
Over 150 customer experience professionals completed a PeopleMetrics online assessment about the presence, or absence, of customer-centric practices in their organizations. In our blog, we commented on the slow progress revealed by the trends in this data, with few disciplines improving over time.
However, one exception to this stagnation in activities exists: the practice of customer journey mapping. On average, in 2014, one-third of participants (32%) said that their organization had practiced customer journey mapping as part of their customer experience improvement efforts. So far in 2015, the proportion of practitioners who say they are familiar with journey mapping has increased to nearly half (48%). That's a 50% growth in this activity in just a few short months.
Read full article.
https://www.peoplemetrics.com/blog/the-basics-of-customer-journey-mapping/
Increased income aside, there are other reasons why getting feedback from customers makes sense:
Insightful feedback can help guide product and service development so you focus your resources on what your customers consider important.
Getting customer feedback also helps you identify and eliminate problems. People who complain about your products and services aren’t an annoyance; they’re actually helping you do a better job.
Ready to get started?
In this guide, we’ll cover the best ways to collect customer feedback on your website.
https://optinmonster.com/best-ways-to-collect-customer-feedback/
Tie in your customer insights and make your projects a success. Mopinion has just launched a new integration with collaboration and work management software Asana. This new and improved integration – facilitated using Mopinion webhooks – allows users to push user feedback to their Asana boards and tasks without ever having to leave the Asana app!
https://mopinion.com/mopinion-integration-with-asana/
It's likely no surprise to hear that online and social media management is no longer optional for a business. Consumers these days regularly turn to social media to get in touch with companies, including leaving reviews about their own experiences. While this is still somewhat new territory, navigating feedback from customers shouldn't be a difficult chore for franchisees. Social media and customer reviews have been viewed as a difficult area for businesses to handle in the past because the online environment is relatively anonymous. However, if you are able to properly manage reviews and social media as a franchisee, it can provide an opportunity for you to engage with consumers in a positive way.
https://www.betheboss.ca/resources/industry-experts/apr-2019/online-feedback/
Voice of Customer (VoC) technology presents as a digital loop closer for many of the systems which interact with the customer and produce data for driving better customer experience (CX).
With the rise of CX as an aspiration and a concept, VoC solutions have followed in their wake as a practical way to obtain, analyze and measure customer feedback across multiple channels. Many of these solutions can be automated and integrated across other systems and solutions.
https://www.cdotrends.com/story/14239/pumping-volume-voice-customer/
It’s easy to talk about the importance of customer input. You bring it up in a meeting, everyone nods in agreement, and you feel smart.
It’s another thing to actually invest time gathering and analyzing customer input. As important as this data is, the act of obtaining it is no different than any other business activity: you’ll need to show a return on the investment you put in.
Luckily, there are several metrics that you can easily connect with the insights you derive from customer feedback.
https://customerthink.com/5-ways-to-prove-the-roi-of-customer-feedback/
“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/
