"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/
I recently discussed the importance of getting Voice of the Customer (VOC) feedback and common methods, such as surveys, to understand customer perceptions and expectations across different touch points. To be effective and acquire actionable insights, questions must be designed with best practices applied. I also recommend a “test & learn” approach.
Writing and launching surveys has become a science and an art. I have seen cases where surveys have gone wrong because of undefined goals or wrong objectives. For example, if you consider the Net Promoter (NPS) question, you would not survey customers for the sole purpose of knowing IF they would recommend a company or its products. Instead, you should focus on understanding the reasons WHY customers would or would not refer. Also, you want to avoid asking leading questions that influence responder opinions, otherwise, you will not obtain “voice of the customer” feedback that is authentic and useful. While these are obvious tips, some things are not so clear like how much does survey question order matter?
http://customerthink.com/nps-survey-question-should-it-be-first-or-last/
Customer Effort Score (CES) is a customer satisfaction metric that is widely used in the feedback world. In essence, CES measures the ease of an online experience. This is done by asking the customer directly how much effort it took to achieve their goal on your website. It serves as a great way of discovering bottlenecks in the digital customer experience and helping you recognise your weaknesses. So how can you collect this feedback effectively?
In this article we will evaluate CES (as a customer satisfaction metric) as well as outline several feedback form templates you can use for collecting CES. Note: CES measures effort both on- and offline, however, this article focuses purely on digital CES.
https://mopinion.com/online-feedback-form-templates-customer-effort-score-ces/
In the ‘Customers 2020 Progress Report’ (Walker), it is predicted that Customer Experience (CX) will surpass price and product as the key differentiator by the year 2020. Right now, CX and Voice of the Customer (VoC) are considered to be the two most important areas of improvement if a business wants to remain competitive.
For a B2B company, the ability to retain clients can be the difference between success and failure. So understanding the Voice of the Customer and using feedback to inspire meaningful change is paramount. Here we look at why VoC is important for B2B, and how it should be used in order to be provide value.
https://www.iris.xyz/sell/client-experience/voc-program-vital-your-b2b-business/
Collecting and measuring team performance through KPIs is a great way to assess the effectiveness of sales processes. This is because KPIs are extremely informative when it comes to how well, or how poorly, sales teams are completing goals. It is important to select a few sales KPIs to focus on, as opposed to try to improve them all at once. Choose the ones that are more relevant to your company goals and measure them over time to get more visibility and control over your sales performance. Here is a list of 14 Sales KPIs that are commonly used by sales organizations:
https://www.business2community.com/brandviews/dealhub/which-sales-kpis-should-your-team-measure-02148257/
Netflix has long been known to use algorithms to predict what you may want to watch based on what you have viewed in the past. It now also customizes the artwork shown for each recommendation, based on the customer’s most-watched genres. Netflix is one of many companies focusing on personalization as potential profit. This personalization allows CIOs to directly engage with the customers they are trying to sell to; this direct interaction allows for new opportunities to innovate.
A simplistic approach is to directly engage customers in the innovation process in order to understand their demands and increase the likelihood of success. The more complex answer is to create a comprehensive approach, differentiate customers and limit direct engagement to ensure accuracy without becoming intrusive. This can be accomplished using personalization, crowdsourcing and listening to the voice of the customer.
http://www.cxotoday.com/story/engage-directly-with-customers-for-it-innovation/
Customer feedback is the best source we have for collecting the consumer insights we need to improve our businesses. Asking for feedback, analyzing it and implementing product/service fixes where necessary can make all the difference for building brand loyalty and achieving success.
In fact, the most successful businesses today take the thoughts and feelings of their customers seriously. It's been clear to me, offering my company's, Varidesk's, products through Amazon that that retail giant sets the standard. It gathers customer insights, data and feedback, then uses that information to drive innovation in operations.
https://www.entrepreneur.com/article/315805/
Customer feedback is crucial to running a successful business. From improving your customer experience to perfecting your services or products, customer feedback will tell you most things you need to know to grow your business.
However, gathering quality customer feedback isn't always easy. Business News Daily talked to business owners about how they gather feedback. Here are five tips.
https://www.businessnewsdaily.com/11074-easy-ways-to-gather-customer-feedback.html/
Becoming a great at selling – or anything else for that matter – is about making adjustments. In order to make an adjustment you need feedback – something you see, hear or feel that informs your ability to adjust. Take Baseball for example. When I watch my son hit he receives instant feedback from every swing of the bat. He usually crushes the ball and that suggests that no adjustment is needed. If he tops the ball or pops it up it is probably an issue with timing. If he peels the ball to the right, he probably opened his front shoulder too early. If he squares the ball up but doesn’t drive it he probably failed to use his legs. He also has 5 private coaches who coach him or, in other words, provide feedback.
That brings us back to selling. Salespeople need feedback too.
http://customerthink.com/how-getting-feedback-and-making-adjustments-are-the-keys-to-sales-improvement/
When customers have a positive experience with a company, they’re likely to share their thoughts with an average of nine people. But they’ll share thoughts on negative experiences with about 16 people, nearly double the amount.
Companies are wise to correct any issues that lead to poor experiences before customers share their negative opinions with the masses, but you won’t know what those issues are unless you ask. Customer feedback survey emails are an effective tool for gathering information that can help you craft a positive experience every time.
https://www.business2community.com/customer-experience/how-to-write-a-customer-feedback-survey-email-02141136/
