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/
Since digitization, prospective customers of a company or brand have better access to social media and online content and therefore good opinions from existing customers can sway their opinions and in turn affect sales. Today, customer experience has become imperative to scale business growth in a competitive economy. As of now, companies are heavily investing in technologies such as conversational chatbot, use of virtual reality in retail, machine learning to process customer feedback to tailor their strategies.
https://customer-experience-management.cioreview.com/news/the-driving-force-behind-customer-experience-nid-25775-cid-118.html/
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/
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/
Customer experience is the new global currency for companies looking to invest in differentiation and growth. Best-in-class firms have leaped in eagerly, capturing customer feedback at every touchpoint, closing the loop quickly and integrating efforts across their entire organization.
There are many different theories on how to build and sustain a customer experience program, and advancing technology continues to provide lots of cutting-edge measurement, reporting and planning tools. However, understanding foundational components is essential for company leadership as they look to adopt best practices. Here are five basic concepts to help firms raise their CX game.
https://customerthink.com/5-components-of-a-great-customer-experience-program/
Customers demand relevance and real value from marketing in exchange for loyalty now. The true value of personalization can only be harnessed when organizations work on capabilities that are founded on enhancing Customer Experience (CX).
https://retail.economictimes.indiatimes.com/re-tales/how-can-brands-personalise-customer-experience/2929/
It sounds like a contradiction in terms, doesn’t it? How can you optimise a journey with friction when for many it is considered the nemesis of growth and success? It is annihilated at every opportunity in the digital world for fear the customer might abandon a purchase or fail to sign up for a newsletter. This is not necessarily the case in physical locations like stores, restaurants and service centres. Sometimes a little friction can be a good thing.
http://customerthink.com/improve-customer-experience-by-introducing-friction/
Ensuring customer experience success is an ongoing effort. Just as brands evolve, so too do their customers. We see customers evolve in their interactions with products and services, their complex and varied needs, and the channels through which they express feedback. Customer journey maps document those interactions at scale and help companies better understand the actions, thoughts, expectations and feelings of the people that connect with their brands. These maps help businesses capture customer analytics and track critical pain points to maintain quality customer experiences and address problems.
https://www.cmswire.com/customer-experience/dont-let-journey-mapping-fatigue-keep-you-from-cx-success/
Forrester recently published a paper on the future of customer experience measurement and they didn’t mince words with comments like:
• “CX leaders told us that their response rates are declining, especially among younger customers”
• “Today’s empowered customers reject old-school CX surveys”
• “Even companies that have an advanced CX measurement program need to innovate further to remain relevant and effective.”
They have some great examples embedded in the paper, but I’m starting to hear some variation of, “OK. I’m on board with what Forrester is saying, but specifically, what do I need to do to get more feedback and more thoughtful feedback?”
Here’s how I’m seeing Forrester’s concepts applied successfully:
http://customerthink.com/the-future-of-customer-experience-measurement/
When the topic of customer satisfaction arises, the modern mindset leaps immediately to the traditional retail realm of B2C relationships and starts compiling all the exciting new ways to keep track of, as well as boost their success. Yet, this same mindset is becoming increasingly essential in the world of B2B, since a customer-focused approach dictates the long-term success and the quality of relationships built in both B2B and B2C. You may not create a standard questionnaire or stick to a classic social media scheme to delve deeper into the minds of your customers, but B2B is in dire need of redirecting their focus to their customer pool.
https://customerthink.com/how-to-measure-b2b-customer-satisfaction/
