Regardless of the shape, size or industry of a business, the endgame is, and should always be, the customer. Whether that be a direct consumer, another business or the wider community – they’re what keeps the business ticking.
As a company dedicated to getting Aussie’s the best bang for their buck, we’ve focused on keeping an ear to the ground to seek out feedback from our customers.
Here are three ways your business can thrive by keeping a constant loop of customer feedback:
http://www.dynamicbusiness.com.au/small-business-resources/social-media-strategy-social-media/customers-are-the-endgame-how-to-thrive-by-keeping-them-in-a-constant-loop-of-feedback.html/
Over the last few years the financial services sector has made significant improvements in the decisions it makes that affect customers. The major fines that resulted in big newspaper headlines a decade ago have dwindled, but at the same time customers still lack trust. A YouGov poll last year found that more than half of British consumers (55%) don’t think banks are working in their customers’ best interests. Given that it has never been so easy to switch a bank account or change insurance companies this has long-term negative consequences for financial institutions.
Today’s more demanding, sceptical consumers won’t hesitate to jump ship if they feel they are not getting the service they want, so it is incumbent upon companies offering financial services to improve customer satisfaction, build loyalty and reduce churn. Surely this is common sense? Making customers happier increases their long-term commitment, provides up-sell and cross-sell opportunities and drives profitability. Which begs the question, why is this still a problem?
The likelihood is that the financial services sector is not effectively listening to client feedback.
http://www.bobsguide.com/guide/news/2018/Mar/16/why-understanding-the-voice-of-the-customer-reaps-long-term-dividends/
Wouldn’t it be great if you could predict how much revenue you’d be receiving 2 months from now? 6 months from now? A year from now? Finance departments take lots of factors into consideration when trying to make long-term revenue predictions, but often fall short because they’re not seeing the whole picture. In this edition of #CXSecrets, I’m going to reveal how measuring customer experience can help companies more accurately predict long-term revenue.
https://www.business2community.com/customer-experience/cx-secrets-not-measuring-cx-like-not-counting-money-02024096/
For your business to be successful, you’re probably doing everything you can to satisfy your customers. But how do you know if your efforts are actually paying off? We’re all aware that in today’s digital age, where social media is a powerful tool in the hands of people, customer experience can make or break a business. Both happy and unhappy customers wield much greater power than their counterparts from a decade ago. A happy post or an angry rant – both can go viral on social media, affecting your business in a way that you never imagined!
https://customerthink.com/cracking-the-customer-satisfaction-score/
The technology is developing every passing day; people are getting introduced to various techniques. Such thing helps in solving various issues that are being ignored for a long time due to lack of sources and resources. Just like that, data storage is something that is too tacky and hassle-filled work for any organization.
http://customerthink.com/big-data-vs-traditional-data-what-to-know-when-it-comes-to-defines-big-data/
Good or bad — customer feedback promises to make its mark on your top line.
Rave reviews can help attract new customers and even keep existing ones coming back for more. Nearly 90% of Americans trust online reviews to help them choose between local businesses. Meanwhile, negative reviews help highlight ways to improve the customer shopping experience. Or, at least they should.
https://www.retailtouchpoints.com/features/executive-viewpoints/getting-the-whole-customer-feedback-story/
Startup life can get pretty intense. Most of the time teams work in a zoomed-in mode, and it’s very easy to lose perspective and disconnect from the people you are actually building for. When real pains are replaced with your assumptions, product development can go astray. If you feel like you don’t know who’s on the other side of the screen anymore, schedule in a couple of days to talk to your users. Below I will share 5 ways in which user feedback helped us stay on track at different stages of building a startup.
https://medium.com/swlh/5-ways-to-use-customer-feedback-to-drive-your-product-development-cdfbe16ac7a0/
So it turns out that the voice of your customer is pretty darn important. Gartner found that 95 percent of companies regularly listen to their customer’s feedback, and yet rather worryingly, Gartner’s research also concluded that only 29 percent of firms with VOC programs in place incorporate VOC data into their decision-making processes, while nearly three-quarters of brands don’t consider their VOC programs to be very effective at driving actions. In other words, the benefits of VOC data collection are clear and well received — but brands are struggling to make their VOC programs impactful.
https://www.cmswire.com/customer-experience/the-step-by-step-guide-to-a-successful-voice-of-the-customer-program/
Customer feedback is something many managers and decision makers keep their eyes on. Since companies like Amazon and Apple showed up how effective honing customer data to create value and keep customers hooked, decision making on customer data is key to a long term growth strategy. Early stage customers can become your best marketing time; referrals are the absolute best source of new leads. Using customer feedback to engage customers will save you 5X the money when you retain existing customers rather than try to acquire new ones.
https://www.getbeamer.com/blog/customer-feedback-strategies-tools/
Finding out exactly what your customer thinks about you is a powerful thing. We know this and it’s why we built a balanced approach in our product, helping you capture customer feedback (1st-party reviews) and 3rd-party online reviews.
Now we fully understand the merits of 3rd-party reviews on Google, Facebook and other sites, but we firmly believe they are not the brightest star in evaluating customer experience, customer feedback is.
https://www.getfivestars.com/blog/5-reasons-customer-feedback-amazing/
User Feedback News is a global community of people working or interested in User Feedback, UX and technology.
