User-centric firms should identify and track the core actions that can make or break their businesses.
Traditionally, executives have used standard metrics, such as cash flow, inventory turns and operating income, to get a broad sense of the health of their firm. However, the game has changed with the rise of digital business models centered on the user. New metrics need to be devised based on the core user actions that drive value creation in such models.
https://knowledge.insead.edu/blog/insead-blog/digital-businesses-the-metrics-that-really-matter-6731/
Collecting and analysing feedback is one thing, but bringing it to a profitable conclusion by taking action is what makes the whole feedback process worthwhile. We refer to this last step as ‘closing the feedback loop’. This is a key concept in managing the online customer experience, which is why it’s important that this step is not overlooked. It’s also imperative that this step is carried out as efficiently and effectively as possible. To do this, close collaboration is often required. The question is, what does this collaboration look like?
https://blog.azendoo.com/the-power-of-collaboration-in-closing-the-feedback-loop/
Skedaddle, a company that calls itself the “Uber for buses,” has a radical new plan to eliminate tipping in the service sector. The company’s elevator pitch is to replace tips with customer-sourced ratings for service industry workers, including cab drivers, restaurant servers and even cashiers at supermarkets. These ratings can then be assigned a monetary value through a cryptocurrency.
https://btcmanager.com/kudos-project-replace-tipping-customer-feedback/
NPS . . . No, it's not some acronym for an entrepreneurial disease. Instead, it means "net promoter score." And it's an important measure that emerges when you ask your customers the most important question of all. Can you figure out what that would be?
https://www.entrepreneur.com/article/304850/
Here are ten of the most common, but often overlooked, reasons why your startup isn't able to attract enough customers to become successful.
https://www.entrepreneur.com/article/303981/
Consumers are gradually starting to ignore sales pitches and tune out the invasive marketing methods that many businesses still employ regularly. And subsequently, these changes have made way for a new method of bringing in new customers – inbound marketing. Inbound marketing has recently become a very popular method of marketing among digital-first businesses, especially in terms of content marketing – which is considered a subset of inbound marketing. As a result, many content and inbound marketing tools have since been developed to make these strategies more efficient.
https://mopinion.com/top-27-content-inbound-marketing-tools-software/
A strong customer experience is the best way for retailers to cultivate positive consumer opinion. While that may seem turnkey, consumers’ expectations are constantly rising; no longer can a brand provide the best customer experience within their industry – the experience must transcend through verticals and be the best ever, period. Omnichannel retailers – those that have both an online and offline component – are uniquely positioned to reach consumers wherever and however they prefer to be met: be it in-store, via an app or on a desktop.
http://multichannelmerchant.com/blog/6-tips-retailers-transitioning-leanux-practices/#_/
When marketers first started creating their own branded apps, user acquisition was their top priority. But they eventually realized that a huge user base doesn’t neccesarily translate to high app engagement, and many users abandon an app after a few tries. eMarketer’s Tricia Carr spoke with Lou Orfanos, head of sales and marketing at mobile engagement platform Localytics, about tactics and technologies that are helping marketers build up their apps’ active and engaged user bases.
https://www.emarketer.com/Article/Using-Right-Technology-Data-Keep-Mobile-App-Users-Engaged/1016776/
It’s a tale as old as the Internet. Essential basics of human interaction get lost in the flash and promise of technology. Time and again, we must take a step back, reconnect, and make sure the technology is serving us, and not the other way around.
https://techspective.net/2017/11/07/build-employee-customer-engagement-feedback-loop/
Forbes.com says that bad customer service costs $338.5 billion globally each year. In the US alone, that’s about $83 billion, or an average of $289 per lost relationship.
Most companies today accept the fact that good customer service has a profound effect on reducing customer churn, and eventually the bottomline. Measuring customer satisfaction has become a key function in most Fortune 500 companies.
https://hiverhq.com/blog/measuring-customer-satisfaction/
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