The holiday season is in full swing. And while most ecommerce businesses have been preparing for this for months already, we can’t help but notice that many of these same businesses are missing one important element in their strategies. Sure, they’ve optimised their mobile apps, set up various discounts and promotions to reel customers in, and updated their merchandising strategies…But what about the customers? How are they experiencing the holiday rush? Are there certain funnels in which they’re struggling?
https://mopinion.com/tis-the-season-for-customer-feedback-heres-why/
Voice of the customer (VOC) initiatives have gone mainstream. Unfortunately, too many companies doom their VOC programs from the start.
The problem isn't that brands aren’t collecting feedback. In fact, companies are gathering more feedback from customers and visitors than ever before.
The problem is that brands fail to realize the primary value of VOC data. Information culled via customer feedback is valuable because it creates internal alignment and provides insights that allow brands to execute quicker than the competition.
https://www.cmswire.com/customer-experience/why-your-voice-of-the-customer-data-isnt-actionable-and-what-to-do-about-it/
Sentiment analysis is widely used to supplement the analysis of text data in surveys, complaints, reviews and other customer feedback. In theory, sentiment analysis categorises opinions expressed in a piece of text just as a human might.
However, as the volume and complexity of customer data grows, growing issues with sentiment analysis are providing flawed information and stopping companies from getting the full picture from their data; key customer feedback that could drive positive business change is being missed.
For those who have used sentiment analysis it is likely that you have experienced these inaccuracies – from skewed sentiment percentages and incorrect tagging, to completely missing key business insights.
https://www.marketingtechnews.net/news/2018/aug/16/how-were-missing-mark-consumer-sentiment-analysis/
There has been enough written about startups and reasons why almost all of them fail. So, why write another post about this? Even though there is no dearth of resources (blogs, videos, books, stories, etc) on reasons why startups fail and how to avoid them, I don’t see any reduction in the failure rates of startups; I don’t see them learning from the mistakes of other failed startups; I don’t see them focus on the right things that can help them avoid failure.
It is crucial that we understand that building a startup is not like a chemical reaction à add the right resources, under the right environment and you are certain of the results you will get. Starting and running a startup is a complex system with too many moving parts and any change in any of them could trigger a flow of events that could end in a catastrophe for the startup. Given this understanding, there are still some things that the startup founders could control, things that can significantly improve the probability of success.
http://customerthink.com/why-do-startups-fail/
Launching a business is incredibly exciting, particularly if you’re fresh to the world of entrepreneurialism. Everything feels raw and vital: a bright future is ahead of you, and you’re ready to chart the course of your destiny. However… it isn’t that simple. Whether you’re planning to sell products or offer a service, you’re going to be dealing with customers — which means taking all the ideas that you’ve kept private and subjecting them to broad scrutiny.
https://mopinion.com/what-new-business-owners-always-get-wrong-about-customer-feedback/
Real-time customer feedback is a type of qualitative data collection, in which you receive live feedback from visitors on your website or mobile app. With real-time customer feedback, you can immediately see the needs and wishes of your visitors as well as monitor for potential problems such as bugs or missing information in the customer journey.
https://mopinion.com/what-is-real-time-customer-feedback/
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/
The use of metrics is a practice businesses apply to nearly all aspects of their organisation. Whether that’s finance, competition, customer requirements, expectations, employee performance, or marketing, metrics matter. Metrics reflect and support the strategies of these business areas, giving us leverage to improve in any way we can. So why would this be any different when collecting online customer feedback? And while we’re on the subject, what is a customer feedback metric?
https://mopinion.com/what-is-a-customer-feedback-metric/
Would you like to gather real time feedback from your online visitors as they set out to achieve their goals on your website? Perhaps you are doing this already but struggle to manage the data and pick out the important trends? If so, tune in to our upcoming webinar where we will be joined by special guest Marieke Verbossen from major travel organisation and winner of the Shopping Award’s Publieksprijs XL (for Vacations & Travel Tickets), TUI. She will share some interesting details of how TUI gathers and gets the most out of their online customer feedback data.
https://mopinion.com/webinar-how-tui-leverages-online-customer-feedback/
Data-driven Voice of Customer analytics is proven to increase lifecycle value and reduce churn by delivering the insights companies need to dramatically improve brand and product experiences. There are six steps involved in building an effective VoC analytics program:
https://www.lexalytics.com/lexablog/effective-voice-of-customer-voc-analytics/
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