Brands are not merely built on products and their sales; customer feedback plays a magnificent role too. Customer reviews about your services can bring your product sales from ground to moon and vice versa. With advancements in social media, giving reviews about anything is just one click apart, and the buyers always check the reviews before placing any order.
According to a case study, 50% of customers worldwide say they’ll rebuy the product/service after a personalized experience; an excellent customer experience may generate repeat buyers. Understanding customer sentiments, analyzing customer satisfaction, equipping the customer support specialists, and implementing closed-loop marketing strategies ameliorate the CX program, resulting in boosted sales.
How Customer Feedback Benefits Us?
Following are the benefitting aspects of customer feedback that nurture your brand’s productivity:
- Customer feedback helps the brand know about the consumer’s needs and expectations.
- It lets them analyze the customer’s satisfaction level and whether they are happy with the product/service.
- It prompts the brand to train the
CXteam and become more skilful. - Good customer feed helps in grabbing new customers.
- It causes the brand to improve its product or services.
How A Brand Should React On Customer Feedback?
Specific measures should be adopted by the brand while reacting to any customer feedback, helping to get more brand reach. Let’s have an understanding of them.
Implementing Business intelligence strategies in CX
Business Intelligence involving data mining, data management, process analysis, performance benchmarking and descriptive analytics can help integrate different teams working in a brand. Popular BI tools and an expert BI team can convert customer feedback into business growth. You must use the following BI strategies if you’re running a brand.
1-) Calculating CSAT Score:
DSAT analysis refers to customer dissatisfaction and it can be performed using BI tools. It’s performed to assess how much the customers are dissatisfied with the Brand’s services. A low CSAT score indicates low customer satisfaction, declining the Brand’s sales and productivity. Using tools to improve CSAT score is necessary at this point.
2-) Complexity Mapping and Volatility Indexing
Complexity mapping measures how long your customer feedback takes to reach the CX program to be answered, analyzes the customer sentiment, and tools required to be used for a better CX program. VIX is a fear gauge and a quantitative measure of the risks that come in the way. They can point out the areas of improvement after getting customer feedback.
3-) Value Stream Mapping
VSM is a process of analyzing, managing and designing the flow of information from the brand towards the customers while delivering the product/ services. When the system in the brand is streamlined, there will be good customer feedback only.
4-) Evaluation of Net Promoter Score
NPS refers to Net Promoter Score, is an assessment tool for checking the brand’s performance through the ratio of promoters to detractors. It enables the CX team to establish ways to get more NPS, leading to uplifted growth.
5-) Development of CX Management Systems
Developing the CX management systems being run by the CX professionals can improve the gray areas in the brand performance, leading to brand growth.
Leveraging Customer Feedback to Improve the Brand Roadmap
Your customers are your most prominent critics. They give honest feedback about the services, products and customer care. If they complain about the lousy Customer experience, the following considerations must be noted down to run a brand effectively.
- Make a good collaboration between the
CXTeam and the Data management team - Integration between the Service/product provider team and the
CXteam - Business Development Teams should be co-working with
CXexperts - All the executives should be timely reported on the interlinked activities and business growth
How To Keep Every Team In Touch With Customers?
Keeping in touch with customers helps the departments to work according to the customer insight. Following are the ways to connect the customers with different teams.
- Arranging the meetings of
CXteams with other teams - Sharing customer feedback with all teams
- Making mutual strategies for better
CXmanagement
Developing An Expert CX Team
Generating a professional CX team can handle the CX program efficiently, converting your dull business into a shining brand. Specific actions can be taken to develop a good CX team.
- Improving the
CXskills of the teammates dealing with customer care - Leveraging the
CXtools, including the Feedback Collection Tool - Identification of which other departments are involved
How To Turn Negative Feedbacks Into Improved Brand Growth?
Being genuine reviewers, customers can give negative reviews about products, services, or the customer experience. Answering back to them regarding their provided feedback could be more professional. However, some tips can be used to convert such unpleasant reviews into customer satisfaction, generating good ROI and growth.
Instant Replying To Feedback
Addressing customer complaints or unsatisfactory remarks quickly can handle the situation. You must timely reply to your customers and sort out their issues. This way, it can reduce customer churning.
Consider That ‘your Customer Is Right’
Your customers are the brand’s sales promoters. While handling CX, acknowledge that the customer queries are valid. Bursting upon the consumers can destroy your reputation and decline customer retention.
Accept Your Flaws And Ask For Apology
Professionalism and acceptance flows side-by-side. Addressing low-star reviews aggressively harms your business. Try to admit your mistakes wholeheartedly and apologize to the customer for the inconvenience.
Approaching Customers Personally
The negative reviewers are capable of demolishing your brand’s success. It would help if you approached them personally to satisfy their expectations of the brand. While approaching them, always use a pleasing tone and accepting behavior.
Don’t Create Fuss Online
The compensatory actions against negative customer reviews must not be disclosed online. The brand should share the contact details with customers, including email addresses or telephone numbers. Both sides should talk privately.
Give The Clear Details If Required
If the issue goes out of hand and starts impacting your brand badly, you should generate a clear statement showing your brand’s positive side. It will prevent the customer churning.
Compensatory Gifting
You can ensure customer retention and prevent churning by arranging compensatory gifts. You can offer free products, product exchanges, discounted prices, bundle offers, and more.
How To Acknowledge Positive Customer Feedback?
Everybody wants to be addressed. No answering to positive reviewers can also cause low customer retention. Your brand’s CX team should respond to happy clients professionally. Consider certain points while dealing with pleasant reviewers.
Reply Them Gladly
Your customers build your brand. They must be acknowledged with good gestures and thanking replies.
Share Their Reviews On Website
Sharing their feedback in the customer review section of your website gives them a happy feeling whenever they visit your site. It may increase customer retention.
Giving Token of Love
Offering your buyer tokens of love, including promo codes, discounts, and giveaways, may stimulate the brand’s growth.
By actively listening, analyzing, and implementing insights gained from customer feedback, brands can evolve and strengthen their connection with their audience. This process isn’t static; it’s an ongoing commitment to improvement, innovation, and responsiveness. Embracing customer feedback as a catalyst for change empowers brands to adapt, refine, and ultimately thrive in a dynamic marketplace.