Categories
AI analyst analytics tools customer feedback data Marketing Tech

The Best Way to Make a Customer Feedback Program Work for Your Brand

customer feedback brand

How has your brand been handling your customer feedback program? Is it possible that you don’t have one in place? Today more than ever before, the customer is the king. Their powers to make or mar a business have increased tremendously. Here is the best way to make a customer feedback program for your brand.

Your customers have access to many social networks, and the competition has become more intense — now you are subjected to web-based ratings.

Due to the ease of accessing social media, a consumer can, with just ordinary clicks, post positive and negative feedback online, which can either make your brand soar or completely come crashing.

If you are unfortunate and don’t have an efficient customer feedback program that can be deployed to gather, analyze, and act upon the data, you are in the deep blue sea. On the other hand, if you have put in place a robust customer feedback program for your brand, you will avoid all manners of negative and detrimental reviews, with an assurance of a handsome return on investments (ROI).

Nemertes’ 2019-20 Intelligent Customer Engagement research study of 518 companies discovered that 66.7% of companies gather customer feedback. The feedback includes 43.6% use customer health scores to observe developments continuously.

The study also revealed that though about 50% make modifications frequently based on that feedback, 45.7% make adjustments periodically and believe they can do more than that.

The sad aspect of the discovery, however, is that 3.1% of those that gather customer feedback completely refuse to do anything with the information they have at their disposal.

After you have the gathered data — then what?

Once your data analyst has finished working on the gathered data using investments in survey and analytics tools, whatever changes that are recommended must be swiftly applied, which means that your brand’s C-suite must be aligned with the customer feedback program for prompt action.

Key players needed for the success of the program

Everybody who is part of the decision-making body in your organization must be involved in the program to guarantee expediency. However, there are some whose roles are very vital for successful customer feedback.

Some of these key players are as follows:

Chief customer officer (CUO)

In conjunction with the chief revenue officer, chief marketing officer, and maybe some others depending on the brand, should be solely responsible for the development of the business case. This should outrightly specify what relevant information they need from customers, how often this is needed, and which success metrics they will track.

The CUO is also responsible for analyzing the data, recommending change, and overseeing that customer service agents comply with new scripts or processes.

Chief information officer (CIO)

Your CIO should be responsible for selecting the tools you need for gathering and analyzing customer feedback. It’s also the CIO’s business to ensure that you have the best supporting network and server or cloud platforms.

The CIO must work with a team that oversees the training of AI data sets and data scientists, who develop the feedback programs and, in the end, give feedback to the CIO.

Chief marketing officer (CMO)

Your CMO is responsible for ensuring that you are getting positive ratings and curtailing negative feedback, using social media, guest posting, blog, and the web. Whenever you have any marketing program that is not aligned with your customer feedback, the marketing team ensures this is corrected.

Chief revenue officer

Your chief revenue officer oversees your sales strategy and SEO — and decides when to effect changes based on your customers’ feedback.

Mode of operation

For your customer feedback program to be effective, you need to follow the following steps:

  1. Collate your data

Your brand has its peculiarities; hence, your requirements must also be unique. It’s your business to determine the type of data you need and how to gather the data.

Metrics you can rely on to succeed in the collation include customer satisfaction (CSAT), net promoter score (NPS), transactional net promoter score (TNPS), customer effort score, post-call surveys, or custom surveys.

You may not have enough workforce to do the collation; you can easily outsource this service to a third party. The basic procedure is to send survey requests to customers to gather this information regularly.

It’s not just all about gathering data but ensuring that you get comments that are qualitative and useful at the end. You should be able to deduce from their comments the reasons for rating you either high or low.

  1. Analysis

After you have gathered the data, the next thing is to make sense out of it and this requires analysis. You determine the analytics tools that are relevant to your brand, it should not be an a-one-fixes all sort of affair.

According to Answerrocket, you can even deploy AI-enabled analytics tools to carry out the task where it is necessary. The essence is to determine when comments are negative, positive, and mixed.

  1. Recommendations

The data analysis tools you use should be able to make recommendations for a strategic but non-urgent change or raise an urgent red flag. The change could be due to complaints from a customer who has a point to iron out.

You can also implement changes based on recommendations from your data analysts, who have discovered some anomaly in the way things are handled based on the data. This anomaly could be from your marketing strategies, advertising campaigns, or branding.

Examples of recommendations you may come across include:

Act on the findings

It’s of utmost importance that you act on the data you’ve got and other recommendations. You can’t expect any meaningful impact from your analysis if this is not done.

It’s annoying to realize that some organizations will put in serious efforts to gather and analyze data to haphazardly implement the recommendations. In this era of AI and machine learning, you can deploy both humans and technology to act upon customer feedback.

The recommendations may be based on feedback from an individual, a group of customers with similar circumstances, or all your customers. The action you take will depend on the situation at hand and what the process dictates.

Degree of success

If you have been able to resolve the issues raised by your customers, you mustn’t stop there. There is the need to maintain a good CX, and that warrants that you keep on gathering more information from them regularly to ensure you are on the same page.

If the action you took worked perfectly, that might be a signal for you to embark on bigger projects since you are in the good books of your customers. If, on the other hand, your action did not have the desired impact, you need to innovate.

Whatever may be your outcome, don’t stop measuring success. And finally, revise.

The post The Best Way to Make a Customer Feedback Program Work for Your Brand appeared first on ReadWrite.

Categories
content writing customer feedback Customer Service SMS

4 Actionable Tips to Improve your Customer Service Strategy

customer service strategy

Customer service is vital for any business to retain its customers and gain more value from them. Through top-notch customer service, businesses can reduce the acquisition cost of a new customer and cultivate a loyal user-base. Your user-base will act as brand ambassadors, and double as case studies and provide testimonials and reviews. Here are four actionable tips to improve your customer service strategy.

When you invest in customer service to delight the customers, they remain engaged with your brand for the long-term.

You’ll also find that they and convince their personal and professional network to interact with your business. After all, positive reviews are more effective in gaining new customers than the marketing campaigns by your business and are cheaper.

With the incrementally high costs of acquiring a new customer, retaining an existing happy user is all the more important.

Ask these questions:

  • How to earn customer loyalty?
  • How can your customer service agents woe the customers to not only come back but also refer their friends and family to purchase from your brand?

To answer these questions, here are the four actionable and proven tips to improve your customer service strategy.

#1. Collect feedback.

As customer needs vary depending on the industry you are targeting; good customer service looks different for every business. Instead of assuming what your customers want, use a customer satisfaction survey to receive their perspective on your business.

Customer survey form builder

123FormBuilder

This way, you can identify what your audience requires and provide customized solutions. These forms can be in the feedback request sent after the purchase is made, or after an interaction is completed with the customer. You can ask for ratings using Net Promoter Score Surveys (NPSS) or even a detailed form built for personalized browsing or checkout experience. The reports generated by these feedback forms can form the basis for personalized customer service strategies.

Don’t miss this chance of enhancing your products and improving the customer experience.

#2. Know your average response time.

Customers want fast solutions to their queries. 66% of customers report that an important part of good customer service is the company valuing their time. Ace up your efficiency by developing a workflow that streamlines and co-ordinates with different support departments and functions. By reducing the average response time your website visitors and customers are less likely to get distracted or navigate away from your website.

To speed up the average response rate, eliminate internal confusion to reduce the delays. To remove the confusion whether the reps replied to the customer query or not, use a shared inbox.

Kayako's shared inbox

Kayako’s shared inbox

As communication is transparent and visible, everyone in the team is updated about the responses that are pending. With multiple users accessing the inbox, teammates can respond to clients in real-time.

Further, you could adopt a helpdesk to manage and automate customer service tasks to help your team stay organized, prioritize work and fastrack the customer query response rate.

Proprofs helpdesk

ProProfs Helpdesk software

#3. Customer support through SMS.

A staggering 52% of customers prefer to text a customer support representative over other channels of communication. With over 5 billion people sending and receiving SMS messages globally, consider including SMS texting in your customer service arsenal, to communicate with the users.

For small businesses whose marketing budgets are restrained, customer service over SMS is a good option because it works on all phones, needs no separate app downloads, and is independent of the internet. It allows your customers to follow-up, respond to your text message instantly, and interact 1:1 with your support team.

Some etiquettes to remember, while sending SMS messages to your audience are these.

  • Get written consent from the customers before reaching out to them over SMS.
  • Collect their phone numbers through signup and contact forms while mentioning that you would reach out to them over text messaging for customer service updates.
  • Consider messaging at the right time, preferably regular business hours.
  • Avoid sharing sensitive information that the customers may not be comfortable discussing over text.
  • Escalate to a phone call when the problem becomes too complex to handle over SMS.

TextMagic's build SMS

TextMagic

Don’t shy away from publicizing that your customers can reach out to you by SMS, which shows your commitment to offering excellent customer service.

#4. Use content to support your customer service.

Along with generating leads, your content can also be used to increase customer happiness and satisfaction.

The support team knows the most of what your customers require, complain and recommend about your business. It becomes all the more essential to connect your content creators with the support staff. The content that answers all the questions your audience has, can be used to deliver value to the leads and clients. The blog content that is filled with statistics and insights can be used by the support team to increase customer loyalty.

Start by identifying the 10 most frequently asked questions your support team receives. Identify or create content to answer those questions in the form of easy to understand resources. Ensure that your support team understands the same content and uses it to answer the queries.

Also, you can use email gated content to send people down the sales funnel. This could take the form of a previously recorded webinar, podcast, or an e-book. People who have contacted you are already interested in your offering. Instead of sending them through a boring and long demo, consider this soft sell.

In cases where the questions are straightforward, you could direct the visitors to the FAQ page or knowledge base where they can find corresponding answers. For technical questions that are complex, take the help of videos, case studies and how-to-posts to help them understand.

You can do this yourself or hire a content writing agency to help you create content that retains customers and nurtures leads.

Conclusion

Delight your customers with a stellar customer service strategy. Your customer service reps have a tremendous influence on your business, revenue, sales and overall growth.

They are an important touchpoint to delight the existing and potential customers.

Invest in a proper customer service strategy taking into consideration the 4 fool-proof strategies mentioned above, to serve your customers.

Image Credit: Andrea Piacquadio; Pexels

The post 4 Actionable Tips to Improve your Customer Service Strategy appeared first on ReadWrite.

Categories
customer experience customer feedback customer feedback software Customer Service Net Promoter Score NPS Survey Software

Why You Should Measure Net Promoter Score (NPS)

net promoter score

Many times, when I want to make big decisions like buying a new phone, any new gadgets, or investing in any mutual funds and share market — I always follow three rules. Might I suggest these rules to you? Here is why you should measure the net promoter score (NPS).

My rules for large or small decisions

First: I check other people’s recommendations on the websites. Second: I myself ask my friends, family, relatives, and my colleagues. Based on their thoughts about the product or service — Three: I take a couple of minutes — to think! Following these three simple rules — I can quickly make a firm decision.

Similarly, your customers may not even realize that they are following the same rules to make decisions.

Your family, friends and even customers buy products, services on the basis of the recommendations from other friends and relatives. According to a study, 83% of respondents said they trust recommendations from family and friends more than any other form of advertising.

It’s important for you and your business to know whether your customers are interested in your product or service. Start asking: who is recommending my products, services, and business brand to other people?

When you ask those questions — here is where the Net Promoter Score (NPS) metric can help you to track customers’ willingness to recommend your brand to others.

What is the Net Promoter Score?

Net Promoter Score is a leading customer feedback metric that helps you to gauge the customer experience, specifically customer loyalty and satisfaction. The Net Promoter Score can be achieved by conducting the Net Promoter Score Survey using the Net Promoter Score Survey Software (from zonkafeedback).

The zonkafeedback customer experience metric system was introduced by Fred Reichheld of Bain & Company in the year 2003  through his best-selling book named “The Ultimate Question: Driving Good Profits and True Growth.

How Net Promoter Score System Works?

The Net Promoter Score comes from the simple NPS Question: “How likely would you be to recommend our (PRODUCT/SERVICE/BRAND) to a friend or relative?�

With that question, the customers are provided with a score scale from 0 to 10 to range their willingness to recommend.

After that, the business will segregate their respondents or customers on the basis of nature (positive, negative, and neutral) of their scores and broadly categorized them into Detractors (who scored you from 0 to 6 ), Passives (who scored you 7-8), and Promoters (who scored you 9-10).

How to Calculate the Net Promoter Score?

The Net Promoter Score can be calculated by using the simple NPS formula where you have to subtract the total percentage of the detractors from the total percentage of the promoters. The Net Promoter Score number can range from -100 to 100.

You can also use an Online Net Promoter Score Calculator.

Net Promoter Score Formula = %Promoters – %Detractors

Why You Should Measure Net Promoter Score?

The Net Promoter Score is the quickest and easiest way to get a clear picture of your customer sentiments. It can further help you to identify the strengths and anomalies of your products or services and make it better and more customer-centric.

There are many reasons why you should be measuring your company’s Net Promoter Score:

  1. It measures customer loyalty
  2. It provides an instant indication of customer satisfaction
  3. It drives word-of-mouth traffic
  4. It leads to product improvement
  5. It enables to close the feedback loop
  6. It reduces customer churn rate

Here is what you can now base your business on:

  1. It Measures Customer Loyalty

Customer Loyalty refers to the customer sentiments or positive experience in which consumers express their satisfaction level achieved after using any product or service. Loyal customers will not only engage with your brand but also likely to choose your products and services consistently over other competitors.

According to the research report, 66% of US consumers make decisions based solely not on the product and its price, they are also considering the loyalty factor as well. They are willing to spend more on those brands to which they are loyal.

For example, there are lots of features in the iPhone that are similar to that of Android phones, but Apple loyalists will choose an iPhone despite it being priced higher than its competitors.

If you are choosing customer loyalty as a performance indicator, you need to take care of two things, first is choose an accurate way to measure it and second is the ways to control its fluctuation.

When it comes to measuring customer loyalty accurately, the Net Promoter Score and Churn Rate are two measuring metrics that can help you to drive accurate customer-powered data.

Calculate the Net Promoter Score

To check your customer loyalty, you can conduct the Net Promoter Score Survey among your customers. If they score their willingness to recommend your product/service/brand to others 9 or 10, then they are promoters and considered to be loyal customers. But if they score their willingness from 0 to 6 and 7-8, then they are detractors and passives respectively.

Measuring the Net Promoter Score can help you to identify your detractors and passives (kind of disloyal customers) and follow up with them to solve their issues. This helps you to improve your customer experience and turn your detractors or passives into promoters.

  1. It Provides an Instant Indication of Customer Satisfaction

It is clear that the NPS Survey gives you a concise understanding of the customer relationship with your brand. But along with the loyalty, NPS Survey also helps you to track instant customer satisfaction.

The Net Promoter Score Surveys can be conducted quickly after an event or transaction to track instant customer satisfaction. Let’s see, how?

Transactional NPS Survey helps you to gauge the real-time instant customer satisfaction immediately after the specific interaction or transaction or event like placing a new order, booking tickets, doing online payment and so on. The answer helps you to determine those things that caused an unpleasant experience for the customer.

There are different touchpoints in the customer experience journey where you can trigger the transactional NPS Questions and ask, “How would you rate our company on a recent experience?” Some example times to ask will be:

  • After Ticket or Call Raised – Once you conclude the call with the customers, you can send them a Transactional NPS Survey to determine whether they are satisfied with your interaction and support services or not? With this practice, you can also gauge the level of effort your customers are putting with your customer service agents to get their queries resolved.
  • Post-Order Survey – When your customers have placed a new order or completed any specific business transaction with you, always send them a transactional NPS survey via SMSes or Emails to track their real-time experience and customer satisfaction. Data collected through surveys can help you to streamline your product and customer strategies and improve the customer journey.
  • Post-Delivery SurveyPost delivery surveys are very important if you are an Ecommerce business owner or a restaurant dealing in food delivery service. You can share transactional NPS surveys either through SMSes or you can also encode QR Codes on the boxes or bills. Post-Delivery Surveys serve you with the key indicator to analyze your delivery & logistic services.
  1. It Drives Word-of-Mouth Traffic

In this competitive market space, driving customers to the business is the biggest challenge. It is important for a business to first focus on bringing new customers to the business and this can be achieved when your existing customers spread positive word-of-mouth for your brand. Here the Net Promoter Score Survey enters into the play.

It is already cleared that NPS Surveys data determine your detractors, passives, and promoters. But the whole thing revolves around how you are using the NPS survey data?

There are many ways to deploy NPS Survey data to get positive results. One among them is deploying the promoters’ scores, their positive word-of-mouth to build a strong brand image. When your promoters recommend your products/services/brand to their friends and relatives, they are indirectly quantifying the word-of-mouth traffic.

According to Nielsen’s latest Global Trust in Advertising report, 92% of consumers trust recommendations from their friends and relatives more than other mediums. Thus, online customer feedback and reviews have become the second most trusted source.

If you want to augment your word-of-mouth traffic, you need to get more and more promoters and for this, you need to conduct the NPS Surveys. If you are worried about detractors, then don’t worry, with the Net Promoter Score Survey Software, you can quickly follow up with them and solve their issues and improve their perception towards your business.

Quick Follow Up — Fix the Issue

Quick follow up helps you to turn your detractors to promoters. According to Lee Resources, 70% of detractors will do business with you again if you fix an issue they’ve complained about.

You can share the word-of-mouth (high Net Promoter Scores, positive feedback, recommendations) at different stages of the buyer’s journey including product consideration, evaluation, and purchase to develop the market and attract more new customers to the business.

  1. It Leads to the Product Improvement

Products or services need time to time up-gradation and improvement to survive in the competitive market wherein customers can quickly switch to the other brand if they are not satisfied. So, it is important for every business to check whether the products or services are performing well among customers or not?

Deploying Net Promoter Score Survey can help you to understand the negative side of your product and service. Real-time tracking helps you to upgrade and improve your products and services.

How?

When it comes to surveying customers, NPS Survey system offers a two-part questionnaire:

  • Close-Ended NPS Survey Question – The Net Promoter Score question itself “How likely is it that you would recommend [Organization/Product/Service] to a friend or colleague?â€�
  • Follow Up NPS Survey Questions – These questions refer to the open-ended follow up questions where you ask the reasons for their scores.

We have different types of NPS Follow-Up Questions that can help you to go into the meat of the issues faced by your customers. Some best Follow-up NPS Survey Questions are:

  • What is the primary reason for the score?
  • What was missing or disappointing in your experience with us?
  • What do you like & dislike about (company or product name)?
  • How can we improve your experience?
  • How can we make you happier?
  • Logic-Skip Based NPS Questions

These questions help you to identify the strengths and anomalies associated with your products or services and quickly improve them to ensure a better customer experience.

It is not necessary that you can only approach your detractors with follow up questions. You can also effectively use the follow-up questions among your passives and promoters. In the case of passives, when you ask the reason for their scores, you’ll get to know the things that stop them from being promoters. This again provides you with scope to make your products or services better.

In the case of promoters, this helps you to understand the positive side of your products and services and make it even better.

  1. It Enables to Close the Feedback Loop

This is one of the most important strategies you should consider when you are deploying the Net Promoter Score System to follow up with your detractors. Why? Keeping your detractors unaddressed can be dangerous for your brand image and business growth.

Detractors usually not only give negative feedback and bad scores but also spread bad word of mouth for your brand. According to the study published on LinkedIn, 75% of consumers stated that they share a negative experience with their friends and colleagues, whereas 42% of them stated they’d recommend a product/service. The negative feedback has more impact on the mind than a positive one.

Addressing detractors and close the feedback loop is a healthy practice for your business.

When it comes to closing the feedback loop with your detractors, you need to understand the Customer Feedback Loop Anatomy. It helps you to identify and address each and every kind of issue of your customers. There are basically two types of customer issues in customer feedback loop anatomy:

  • Recurring Customer Issue – It refers to the common and general issue which happens with many customers. Say, if customers (guests) give feedback about the hotel’s washroom, its cleanliness, availability of toiletries, etc. These issues are considered to be recurring issues and are solved on the business level.
  • Personal Customer Issue – It refers to the issues that specifically happen with individuals. These issues are based on the personal opinion of the customers. These issues are solved by following up personally with the customers.

Once you understand this anatomy, it will help you to look at every nook and cranny of every concern of your detractors and swiftly solve them to improve their experience.

To close the negative feedback loop with detractors, first follow up with them personally, either through an email or through a personal phone call. You can open your conversation with the apology and then ask some really engaging questions like

What is the thing that they couldn’t find in your products and services?, How we can improve your experience, etc. These questions will help you to convince your detractors and coney them that you are really concerned to fix their issues.

Besides, personally following up with them, you need to make them feel very special. For this, you can provide them with some free giveaways like free products or service guides or you can also provide an extension of the free trial.

  1. It Reduces Customer Churn Rate

Determining the inflow (who stay in) and outflow (who go out) of the customers is very important for improving overall business growth. And with churn, forget about improving, you can’t even achieve the ground level of the business growth. So, start focusing on reducing Customer Churn Rate.

Customer Churn Rate refers to a business metric that enables you to calculate the number of customers who leave your business over a specific period of time. When you calculate your churn rate, you could able to find your churned customers. These churned customers provide constructive criticism that works as a great source of products, services or business improvement.

If you want to calculate the Customer Churn Rate, you can use the given formula:

Churn Rate % = Number of Churn Customers ÷ Total Number of Customers ✕ 100

Total Number of Customers = Number of existing customers + Number of acquired new customers – Number of churned customers

For example, say if you want to calculate the customer Churn Rate for a period of 30 days. Say, on day 1 you have 500 customers and during the next 30 days, you acquire 100 new customers. During the same 30 days, 10 of your existing 500 customers do not convert or cancel for whatever reason (assumed lost).

Customer Churn Rate = Number of Churn Customer Total customers ÷ (Number of existing customers + Number of acquired new customers – Number of churned customers) ✕ 100

Total Customers = 500 +100 -10 = 590

Therefore, 10 ÷ 590✕ 100 = 1.69%

So, Customer Churn Rate = 1.69%

Conclusion

Measuring and using your Net Promoter Score to the best advantage for your business will bring increased business and satisfaction.

The post Why You Should Measure Net Promoter Score (NPS) appeared first on ReadWrite.