Customer feedback is a powerful tool that provides your team with actionable insights to ensure better customer satisfaction.
Running a successful business means putting yourself ahead to make your customers happy and satisfy all their needs.
This eventually helps you to keep your customers loyal to your brand.
That’s why 80% of businesses focus on customer satisfaction to improve the customer experience.
According to Neil Patel, many leading companies are prioritizing customer satisfaction to grow and increase revenue.
Image Source - Neil Patel Blog
You make countless efforts to delight your customer. Now the question is, how can you be so sure that the efforts you are putting are driving better results?
For this, you need to approach your customers and find out what exactly they think about your products, services, or brand.
Customer feedback about customer experience plays a pivotal role in ensuring an improved level of customer satisfaction.
How? Responses from the customer feedback provide numerous suggestions that can be taken into use to tailor your products, services, and business activities to fit customers’ needs.
This further helps you to improve the customer perceptions regarding the updated products, services, or brand.
Customer feedback is a powerful tool that provides your team with actionable insights and ensures them to fulfil to ensure better customer satisfaction.
When it comes to collecting customer feedback, there are numerous sources from which you can collect reliable feedback from your customers.
Nowadays various leading businesses are using Feedback Apps to create, distribute, collect, and analyze customer feedback. Customer feedback apps provide customers’ input or suggestions that could help you to make more sound business decisions quickly.
Customer satisfaction is correlated with the overall growth of your business. Besides revenue and sales, the feedback app helps businesses to understand customer satisfaction and ensures other benefits like:
Feedback App provides different CX Metrics including Net Promoter Score® (NPS), Customer Satisfaction Score (CSAT), and Customer Effort Score (CES) to measure customer satisfaction at various customer touch points. Every CX Metrics has its significance in terms of improving customer satisfaction.
You can use NPS Surveys at touchpoints like post-order, post-payment, post-transaction, etc to measure the likelihood of customers recommending the products, services, or brand to others. It is a great metric that predicts customer satisfaction and loyalty.
Whereas, CSAT Surveys help you to track how satisfied customers are with your organization’s products or services. You can conduct CSAT surveys at touchpoints like post-order, post-payment, post-transaction, etc.
In 2010, Harvard Business Review published an article titled 'Stop Trying to Delight Your Customers' in which they stated that measuring effort score is much more important than delighting your customers.
A high-effort service experience makes your customer disloyal towards your brand and increases the churn rate. With this, CEB, now Gartner has established another metric - Customer Effort Score. CES Surveys are broadly used to measure the effort customers are putting with you or your customer support team to get their queries solved.
Word-of-mouth is listed as a key influencer for 74% of consumers. Word-of-mouth plays a crucial role in the publicity of your brand. 68% of customers are more likely to use a business if they find positive reviews, while 40% said a negative one made them not want to use it.
So, customer feedback helps you to establish a long-lasting relationship with customers and listen to them to get aware of problems or complaints until it’s too late. Taking action on customer feedback will help you to resolve dissatisfaction and reduce the number of unhappy customers much faster.
Have you ever noticed why a satisfied customer sticks to a specific brand and never wants to leave it? Because of brand loyalty. High brand loyalty will lower the churn rate and increase retention. A 5% increase in retention can increase profitability by as much as 25-95%. Let that sink in.
According to Fred Reichheld, Creator of Net Promoter Score®, “Return customers tend to buy more from a company over time. As they do, your operating costs to serve them decline. What’s more, returning customers refer others to your company. And they’ll often pay a premium to continue to do business with you rather than switch to a competitor with whom they’re neither familiar nor comfortable.”
Customer feedback enables you to measure both quantitative and qualitative aspects of customer experience and satisfaction. It not only detects unhappy and dissatisfied customers but also gathers the reason for the feedback.
Besides, close-ended survey questions, you can ask open-ended survey questions to get suggestions from customers and identify the problem areas in your products, services, or the customer experience you are offering. This in turn maximizes the scope of product improvement.
Closing the feedback loop refers to the process of responding or reacting to customer feedback and addressing all the issues to improve the customer perception. When you address, solve the issues, and close the feedback loop on a positive note, it will help you to retain your customers and may turn them into loyal customers.
Various feedback apps provide an A.C.A.F system to close the feedback loop:
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