NPS, CES, and CSAT are customer loyalty metrics. They’re used to measure the level of loyalty that a customer has toward your brand. Customers are considered loyal when they consistently purchase from your brand over an extended period of time.
How do you get loyal customers? A great customer experience (CX), of course.
In recent years, research by CustomerThink, Forrester, and Gartner have found at least 70% of business leaders believe CX will help their companies differentiate in a world where products and services are increasingly commoditized, and competing based mainly on price is not a viable long-term strategy.
An indisputable key component of a customer experience strategy is the Voice of the Customer (VoC) program, also known as customer voice. It captures, analyzes and reports on all customer feedback—expectations, likes, and dislikes—associated with your company.
In your VoC program, there are two types of customer data that you should collect: structured data and unstructured data. Today, we’ll discuss the three most popular customer loyalty metrics that fall under the structured category—NPS, CES, and CSAT—and the role that each should play in your CX strategy.
https://www.business2community.com/strategy/nps-ces-csat-which-one-is-the-best-metric-02242935/
Insurance is competitive. It can be hard to stay afloat in such a saturated field, let alone find an advantage over your competition.
Lead generation is essential, but any agency can duplicate your efforts, and it gets exponentially more expensive with scale. Is there a more sustainable method of achieving long-term growth and competitive advantage? The answer is surprisingly simple and yet almost universally ignored.
http://sbj.net/stories/opinion-how-to-improve-customer-experience-beyond-surveys,62303/
"How satisfied are you with your bank?" is a staple question in Voice of Customer (VOC) surveys. However, one question that is almost never asked is "How proactive is your bank in reaching out to help you with your unique financial goals?" A handful of banks are emerging as leaders in this respect, becoming proactive by deploying high tech conversational banking capabilities that enable crucial two-way conversations with their customers. These banks realize that conversational banking is fast becoming the "third pillar" of their bank distribution network, along with mobile banking and an optimally sized branch presence.
https://www.finextra.com/blogposting/16422/conversational-banking-how-to-start-the-conversation/
Did you know? Email is the ‘third most influential source of information for B2B audiences’. In fact, almost 60% of B2B marketers say email is their most effective channel when it comes to generating revenue. But it’s not only B2B marketers that value this form of marketing communication: almost 49% of B2C businesses use some sort of email automation as well. Seeing as how email marketing and email campaigns are so popular and widely used, there’s no doubting the competition is high. That is why it’s important to continuously measure the performance of your campaigns and make sure they’re in ‘tip-top’ shape so you’re not driven out by your competitors! Try one of our free email campaign survey templates from the Survey Marketplace!
https://mopinion.com/free-email-campaign-survey-templates/
If you have a VoC program or are interesting in building one, where are all the places you should “listen” to their voice? It is much more than just surveys.
https://customerthink.com/a-complete-voice-of-the-customer-program/
Mopinion is proud to announce the launch of its very own survey marketplace! It’s the perfect way to learn more about the ingredients needed to create and employ powerful online surveys. Choose from one of our eight survey template categories and access nearly thirty live template examples, a list of benefits for each survey, and advice on which questions to use.
https://marketplace.mopinion.com/survey-templates/
Predicting the future is tough, so we decided to talk those who are shaping it. Dave Fish, founder of CuriosityCX and Michigan State University visiting lecturer partnered with Brian Keehner of the Michigan State master of science in marketing research program to interview more than a dozen of the sharpest technology minds from global enterprise feedback management firms to get their take on the future.
What are some of the big strategic bets the major players are making in the CX space? There was quite a bit of agreement, but also some noticeable divergence on the vision for the future. That spanned from data collection and ingestion, all the way to how to help clients take action. Here are the six key discussion points from our conversation.
https://www.ama.org/publications/MarketingNews/Pages/6-big-trends-driving-future-of-cx-technology.aspx/
It’s no secret that it costs 5 to 25x more to acquire a new customer than it does to keep a current one. It should also come as no surprise then that it’s much easier to sell to an existing customer than a new one. Marketing Metrics reports that businesses only have a 5-25% chance of selling to a new prospect, but they have a 60-70% chance of selling to a returning customer.
The inbound methodology is all about helping customers at every step of the buyer’s journey and beyond to turn happy customers into promoters. So, how do you know your customers are happy? And if they’re not, how are you handling their concerns? What else do they need that you could offer them?
Actively collecting and listening to customer feedback is a process called Voice of the Customer (VoC). VoC is about knowing how your customers perceive your company, how they feel about the products/services they've purchased, and what other needs they may have that you can address.
https://www.manobyte.com/why-you-should-start-a-voice-of-the-customer-program/
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/
Online Surveys provide marketers with a simple and easy way to get in contact with a targeted audience and collect feedback. Not to mention, they are great for tracing product feedback, conducting market research, obtaining feedback on customer service and measuring customer AND employee satisfaction. Picking a suitable online survey software for your business can however be quite tricky – especially considering many of these tools seem to provide many of the same features. One particular tool which has become quite popular in recent years is Qualaroo.
Let’s look at some alternatives and competitors to Qualaroo.
https://mopinion.com/top-10-qualaroo-alternatives-and-competitors/
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