As the saying goes, “For every customer who bothers to complain, 20 other customers remain silent.” Unless the experience is really bad, customers usually don’t bother to share feedback about an experience that didn’t meet their expectations. Instead, they decide never to do business with the service provider again. That’s a high price to pay for lost feedback.
The lost customer is not the only casualty. Studies have shown that each dissatisfied customer typically shares the unsatisfactory experience with 8 to 10 (sometimes even 20) others. With the growing use of social media, it’s not uncommon for negative feedback to go viral and hurt the credibility of a brand.
https://www.optimonk.com/blog/15-ways-e-commerce-websites-get-customer-feedback/#.Ww6WLEiFPIU/
Many companies listen to customers, but a big chunk of these companies don't do anything with the feedback or follow up with customers about what they heard. What a shame! What a huge missed opportunity!
Remember the old Gartner stat: 95% of companies collect customer feedback. Yet only 10% use the feedback to improve, and only 5% tell customers what they are doing in response to what they heard. It's from a few years ago but still fairly representative. I've seen the 10% as high as 34% in some studies. Perhaps the 5% has bumped up a bit, but tell me the last time you heard from a company after providing feedback. It's pretty rare.
https://www.cx-journey.com/2018/05/tips-for-designing-closed-loop-feedback.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+CxJourney+(CX+Journey%E2%84%A2)/
Customers are changing far faster today than organizations are. Customers are setting the agenda. Their expectations are rising in direct proportion to their declining trust in and loyalty to organizations and brands.
You cannot deliver quality customer experience if you don’t understand the needs of your customers and create products and services to meet those needs. The agile organization is constantly soliciting customer feedback and constantly adapting and refining based on that feedback.
http://gerrymcgovern.com/customer-feedback-drives-the-agile-organization/
Heaps of companies are shifting their focus to the online Voice of the Customer. In fact, many of these companies have been asking us how our solution differs from other feedback tools on the market. A sensible question actually, considering many tools look very similar to one another on the front-end. That’s why we’ve created an overview that hones in on the major differences between Mopinion and Usabilla.
https://mopinion.com/usabilla-difference/
"Understanding the voice of your customer is key in today’s competitive business landscape, as is developing a customer-centric management style which focuses on understanding and maintaining compelling, positive high-quality experiences for your customers.
Internet and intranet communication allows organizations to hold ongoing conversations with the people they serve. This gives them access to an enormous amount of potentially valuable information. Natural language understanding and deep learning are key to tapping into this information and to revealing how to better serve their audiences.
In this blog, I will discuss the different ways that deep learning can take you to the next level of understanding the voice of your customer including: the importance of qualitative data (unstructured feedback); the role of analytics in the analysis of qualitative data for VoC; and the role and promise of deep learning for applications (including AI Assistant)."
https://customerthink.com/how-deep-learning-can-take-you-to-the-next-level-of-understanding-the-voice-of-your-customer/
The opportunity for a distinctive business lies in offering optimal service and customer experience. Insight into customer feedback is necessary and KPI’s such as NPS, CES and CSAT make that possible. But how do you really implement the Voice of the Customer into your organization? We distinguish three levels in this article to give more insights into the deployment of VOC within your organization.
https://www.cys.group/en/blog/how-to-implement-the-voice-of-the-customer-into-your-organization/
One of the most common – and counterproductive – mistakes in business is making assumptions about your customers.
Having even the most dynamic marketing plan for a superb range of products is whistling in the wind if you haven’t established good two-way communication with your target market.
How can you be sure that your brand and customer service are properly focused, without a constant flow of customer feedback?
Even if you do online and offline surveys and research, that’s still not a substitute for active listening.
https://www.granbymarketing.com/listen-to-your-customers/
How do your customers really feel about your company? To find out, you could train employees to ask for feedback after each transaction, then feed those responses into a database. You could subject customers to a lengthy survey. You might also host periodic focus group meetings.
Or you could ask customers one simple question — and use their answers to determine your Net Promoter Score (NPS).
https://www.cmswire.com/customer-experience/what-is-a-net-promoter-score-and-why-you-should-know/
If a company wants to improve its bottom line, it needs to focus on improving sales. That is only possible when the brand is addressing the right audience and solving their key problems. But, how can the brands achieve that? Being a mind reader sounds amazing, doesn’t it? Now, no need to lose hope. There still are different ways by which the companies can tap into what their customers’ pain areas are. Post that knowledge, they can plan their customer experience strategies to solve those problems.
In this article, we will be discussing the customer service pain areas of the customers – some pressing issues, urgent needs and what could be the possible solutions.
https://customerthink.com/identifying-customer-service-pain-areas-and-how-to-solve-them/
Deciding how much of your product roadmap – if any – to show your customers can be an area of uncertainty. Your product roadmap is your company’s high-level and strategic goals documented, along with an execution strategy that communicates how you plan on getting there. Your product roadmap is relevant for anyone concerned with where your product is headed: the team, the board, and… the customer. Sharing your product roadmap with customers is key, but it can be difficult to do so without conjuring updates and features which will certainly change on the way. If you’re not careful, you might find yourself in dangerous territory, read on to stay away from common pitfalls.
https://www.business2community.com/product-management/best-practices-to-share-your-product-roadmap-with-customers-02047848/
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