Understanding customer values collecting feedback, and asking for reviews
One of the best ways to boost your business is to increase the value of each customer. By optimizing customer value and gathering opinions and reviews, you can create a stable relationship with each of them and bring new value to each type of interaction.
What are some of the benefits of customer Feedback?
Let's start with an apparent assumption: gathering information and opinions from employees and all stakeholders, in general, is not just a way to understand what within the business is working or not working. But feedback can also be used - indeed must - for a much more important purpose: to increase customer value by intercepting customer needs and to understand areas of action to intervene.
Some of the benefits of feedback include the following:
- Identify areas for action and improve them
- Giving a renewed sense of duty and responsibility to every corporate employee
- Involve every person who has contact with the company in promoting news and giving insights on how to improve processes
- Encourage a corporate policy based on the exposure of concepts and problems.
- Building trust between employees and corporate leadership
Why would a customer want to provide feedback?
The reasons why a customer wants to leave feedback concerning the company are many: a strongly positive experience that wants to be told or evidence of some negativity in a purchasing process. These reasons prompt customers to give their input while giving each of them a renewed sense of importance. So it becomes essential for each customer to leave their imprint on the business.
Understanding and responding appropriately to customer feedback remains a very central issue within a company's quality processes:
- seeking and finding new product opportunities;
- find with certainty what the negative points of the business may be. (shipping, courier, package, product compositions, etc.);
- 92% of customers find the interpersonal relationship much more credible than generic ads;
- millennials believe and are influenced (+115%) much more by word of mouth than traditional generic ads.
What are some of the benefits to me when customers provide feedback?
When customers provide feedback, they give you valuable information that can help you improve your business. Here are some of the benefits you can reap when you collect feedback from customers:
Improve customer satisfaction: By understanding what your customers want and need, you can change your products or services to meet their expectations better. This can lead to happier customers who are more likely to return and recommend your business to others.
Identify opportunities for improvement: Feedback can help you identify areas where you can improve your business. Whether streamlining your processes, providing better customer service, or developing new products or services, collecting feedback is a key step in improving your business.
Build stronger relationships with customers: When you proactively seek customer feedback, it shows that you value their opinion and want to hear what they say. This helps build strong customer relationships, which can lead to loyalty and repeat business.
Stay ahead of the competition: By understanding what your customers want and need, you can keep ahead by offering the products or services they seek. This allows you to stay one step ahead and maintain a competitive edge in your industry
How can I collect feedback?
To collect feedback, you will need to follow these four steps:
1. Define your goals
The first step is undoubtedly to understand what our goals are and especially our motivations for collecting feedback. There are several reasons why we can collect feedback: to improve the type of service we provide, to gather opinions about the goods we sell through our ecommerce, to build a highly loyal customer base or to improve the ranking regarding reviews about our business-a very central topic as it can influence users' decisions and lean toward one company over another.
2. Identify your audience
Who are the stakeholders from whom we want to collect feedback? Are they important to us, and how can we use them to improve our company? Remember that the audience could be diverse, and sources of supply regarding feedback could come from some target customers who previously had not been considered regarding the business analysis.
3. Collect the feedback
What are the ways to collect feedback? Indeed the fastest and safest method is to ask, through email support, for feedback through customer feedback forms from those who have already contacted your company as customers. Based on their experiences, they will be able to draw an accurate picture of the strengths and weaknesses of the business. Also critical are the ratings that are provided through special platforms. How can these user ratings be improved? Certainly, by improving the product and services, but also by providing answers in a reasonable time frame that gives the user a sense of importance. Last but not least, the use of social media and the ability to interact with users in real-time. Responding to comments and inviting those in contact with the company to converse is undoubtedly a significant factor in collecting feedback and better understanding where and how to improve.
4. Analyze the results
Understanding the outcome obtained through feedback is the outcome of the whole process. Analyzing how stakeholders have addressed their thoughts, whether positive or negative, tabulating the data and making it usable is ultimately the final step in gathering feedback from customers and all those involved in the business.
This analysis will help you identify opportunities for improvement and decide how best to move forward.
When is it appropriate to ask for customer feedback?
Customer feedback is appropriate to request when the business goal is to increase its trust in users and consequently improve all business processes by following the guidelines born out of the request for feedback.
Guidelines for correct feedback collection
The first rule of asking for consistent feedback is to be clear about the business's motivations for collecting such information. The specificity of the requests and the instructions to be given to those who respond are key paradigms for the project's success. If, for example, you request feedback at the end of a business presentation in a classroom, it will be essential to define the guidelines and ensure that the bystanders have gathered the correct information during the presentation, for only in this way will the feedback be genuinely effective. Lastly, it is important to thank everyone who participated in the feedback collection.
What to do with the information gathered from the feedback
There are some steps to follow with the information gathered through the feedback provided:
- Use them to improve business performance by identifying the parts within the processes that can cause problems or that have been judged to be not up to par in the feedback received.
- Interpret them as best as possible to find new opportunities and make the most of them. The sometimes unintentional advice gleaned from feedback can prove to be an inexhaustible source of novelty.
- Build lasting relationships with your stakeholders. Feedback highlights relationships with everyone involved in the business by building a relationship based on trust and the importance given to everyone who has left their opinion.
- Using feedback to create new marketing content that is increasingly engaging and relevant. Testimonials, blogs, and all portals that provide user reviews can be a great source of sourcing new customers curious about the company's quality.
How do you identify opportunities based on customer values
First, you must collect customer feedback to identify opportunities based on customer values and issues. This can be done through surveys, interviews, focus groups, or any other customer feedback method.
Once you have collected this feedback, you can then begin to identify opportunities based on the values and issues that your customers have identified. By understanding your customer's needs and wants, you can better tailor your products and services to meet their needs and improve your business.
Customer Values - How to increase customer profitability
Why do we want to increase the value of our customers? Simply because in this way, we can derive the maximum benefit in terms of economic advantage by decreasing or even cancelling the CAC altogether. Indeed, it becomes essential to create a lasting relationship with those who have touch points with our business-whether they have purchased or only interacted with, it-by always providing the opportunity to provide feedback, giving exclusive opportunities to benefit from special gadgets and promotions, and generally keeping them informed through preferential channels.
From CRO to CVO
In an increasingly competitive environment, it is exciting to look for solutions to improve the value of every customer already acquired. We often find ourselves in contexts where the concept of acquiring new customers is exacerbated through an in-depth strategy based on increasing traffic. This strategy is not wrong, but it must be meticulously contextualized to avoid an ever-increasing expenditure of resources on advertising investments aimed at the exclusive improvement of Conversion Rate Optimization.
What is the best strategy?
Surely in corporate health, the best strategy is to combine both solutions: optimizing CRO and wisely using CVO. If we have spoken concerning SEM strategies, a separate discussion deserves the techniques of CVO and how to boost the economic results of our business through this tool.
As mentioned in the previous paragraph, keeping customer loyalty high by asking for feedback is an excellent reason that makes one of our users feel followed and, therefore, much more profitable over time. Intercepting his needs by asking his opinions and analyzing and responding to his reviews can be a critical first approach to optimizing the value of each customer. However, research and fine-tuning the best optimization strategy is not immediate. We need to test which channels are the most responsive in this regard through their active use of them: if our target audience is, for example, younger, our preferred channel will be the use of trendy social media to get in touch with them, while in the case of a more mature and professional audience, the use of mail marketing combined with more formal platforms such as LinkedIn can give important help.
Time to structure a customer feedback collection strategy for your business
Time to start structuring a coherent strategy based on customer feedback analysis. Knowing one's customers is an invaluable treasure for any company. By leveraging responses to questionnaires posed, analyzing questions posed via Social Media, or simply asking for feedback regarding the experience one has had, one can define a method of classifying this data and value.