Feedback is the cornerstone of your success
It is only in collecting feedback that you can find out what your clients are thinking. What are their likes and dislikes? The dissatisfied ones offer you a valuable opportunity for improvement. And thanks to the happy ones, you can discover the key aspects of shaping their positive experiences. If you don’t ask for feedback and learn from it, you risk the most valuable asset - a loyal customer.
LOYAL CUSTOMERS CAN FUEL YOUR GROWTH MORE THAN SALES OR MARKETING
Here’s a short overview of what loyal clients mean to your business, according to Hubspot:
- Acquiring a new customer is 5× to 25× more expensive than keeping an existing one happy
- Recommendations are the most prevalent source of new potential customers
- A highly involved loyal customer buys 90% more often and spends 60% more per transaction.
It is these returning, loyal customers who help you build your business the most.
FEEDBACK AS A TOOL FOR BUILDING LOYALTY
Thanks to customer feedback, you can understand the strengths of your business but also discover any potential issues right away. Asking for feedback also conveys a clear message, letting clients know that you care about their opinions. Even an unhappy customer can become loyal if they see that you are listening to them and you want to address their concerns.
Feedback can offer unique insight into all aspects of your business. It is irreplaceable, especially when analyzing the user experience with your products, services, or customer service itself. Customer service, in particular, is vital when it comes to clients’ happiness.
Regardless of the type of positive or negative feedback, it can be an impulse for positive change. Furthermore, it’s an excellent tool for keeping your clients and community at the heart of all your activities.
WHAT SORT OF FEEDBACK SHOULD YOU SEEK?
Depending on your specific segment or product, the requirements for feedback can differ. Before starting to collect feedback, you should be clear on the following questions:
- Do I want to know the overall general development of satisfaction of my clients?
- Do I need to discover specific customer journey steps that cause my clients to have a positive or a negative experience?
- How can I react to the feedback results?
- How and via which channels can I collect data?
Feedback is most efficient when you collect it continuously, in a measurable manner. But the key is to be able to take specific action in reaction to feedback. There is no point in collecting input if we cannot turn the results into actionable positive change.
One way to get started is with commonly used methods, and over time develop and adopt more complex solutions. These are the most widely used metrics in measuring customer satisfaction:
- Net Promoter Score (NPS)
Works based on a simple question - “How likely are you to recommend the company/product/service to a friend or colleague?”
- Customer Satisfaction Score (CSAT)
On a scale of one to ten, CSAT measures customer satisfaction after a specific interaction. The typical question here is, “How satisfied were you with the service you received today?”.
- Customer Effort Score (CES)
Assesses the effort the customer had to expend to resolve their request. Again, clients rank the experience on a scale from one (straightforward) to five (very complex).
SIMPLE AND RELIABLE FEEDBACK THANKS TO SPINOCO
With Spinoco, you can collect feedback in a reliable, continual, and transparent manner. Regardless of the communication channels used in your customer care journey, you can gather feedback right within Spinoco, using a simple web interface accessible to clients from their desktop and mobile devices. According to the specific needs of your business, you can define your individual questions that best reflect the requirements of your clients and the feedback you need from them.
WE ARE HAPPY TO HELP
If you’re still indecisive about whether you need to collect feedback or how to go about it, feel free to get in touch with us. We’ll be glad to discuss your business and suggest the best solution for your use case.