Deliver better customer experiences with feedback tools
Discover how to increase your customer retention by implementing feedback tools.
As marketers we are consistently on the hunt for tools which help our business deliver exceptional experiences. As customers we desire relationships with companies that address our needs and wants. A feedback tool is a great solution to help your business get to know your customers.
Consistent exceptional experiences can become a talk trigger - a reason why your customer organically talks about your business to their network of friends, family, work colleagues, neighbours and relatives. These experiences are noteworthy and exceed the customer's expectations which can become a cornerstone of your brand’s value proportion.
According to Harvard Business Review, a 5% increase in customer retention can increase profits as much as 25%.
Where to startStart by reviewing all your customer touch points and brand assets (Social Media, Call Centre, Website, App, etc) so you have a clear understanding of where to potentially collect data on customer interactions with your brand.
Review your CMS so you know which feedback tools can be integrated. Feedback tools can be embedded surveys, live chat forms, feedback banners, contact forms, star rating reviews, checkout feedback questionnaires, etc.
Implement feedback tools with metrics (eg. cart abandonment rate, form bounce rate, Net promoter score, sentiment rating) to help you achieve your business objectives. Feedback tools have various features that can not only improve your customer relationships but also your bottom line. Adobe research has proven that companies that invested in customer experience in 2019 were three times more likely to have significantly exceeded their top business goal.
7 Benefits of Implementing Feedback Tools
1. Research and improve customer satisfaction
To improve customer satisfaction you need to measure what your customers think about your brand. Net promoter score is a great measurement benchmark which helps your business understand customer satisfaction and how likely they are to recommend your business to their friend.
A net promoter score is popular in the Tourism industry but can be applied to any service wanting to improve their business. It generally has a scale from 0 to 10, with 10 meaning they would be highly likely to recommend your business to a friend and 0 being highly unlikely.
The goal of your feedback tool is to turn a passive or detractor customer into a promoter with triggered communications based on feedback such as promotions, offers and follow up phone calls.
2. Increase retention
For SaaS companies, retaining customers after the activation period, is one of their largest pain points. According to incredo.org the expected annual churn for SaaS companies can be as high as 30%. A feedback tool can give you the ability to increase your customer retention by serving contextual feedback to customers to better understand their frustrations and reasons for leaving your service.
Example: A customer signs up for a free trial and then leaves due to your business not understanding the psychological reasons the customer does not want to continue the relationship. A feedback tool can be a litmus test and provide the answers to potential insights about product improvements and competitor information.
Feedback has been proven to reveal everything from UX problems, training concerns, technical issues, uncovering competitors' strategies. For customer communication it’s recommended to trigger feedback throughout the trial period to increase retention.
3. Segment and nurture leads better
A feedback tool is a great way to reactivate dormant leads and collect information to nurture an experience. A customer can be taken further down the funnel as a result of the feedback collected. When implementing a feedback tool it’s recommended to link data into an enterprise marketing tool such as Sitecore and segment the data based on the answers.
The data can also help marketers and customer relationship teams such as sales to nurture customers and get a holistic 360 degree view of which stage of the journey they are in.
Matching website behavioural data (Frequency of visitation, the frequency of purchase, the frequency of up-sell, stage of a buyers journey, how often they use the product/service) with real-time feedback data will give your brand the edge on your competitors and is a proven strategy for optimising conversions.
Product research no longer needs to be an expensive and tedious task. Digital feedback tools allow your company to ask the right questions, at the right stage of the buyer journey and report back to your product team in real-time.
Feedback tools have been proven to improve products and their associated product pages by allowing brands to ask questions like:
Is this product information useful?
Would you like to see a product video?
How did you hear about us?
When are you planning your business trip?
5. Personalise onboarding
Enterprise marketing tools like SitecoreAdobe and HubSpot matched with feedback data give you the power to personalise your customer’s onboarding experience. Sitecore’s Experience Cloud can trigger rule-based, adaptive, historical activity and journey-based personalisation and marketing automation campaigns from feedback data. Content consumed by a customer on your website can trigger a personalised educational experience which has been proven to improve a customer’s learning and on-boarding journey.
Example Personalisation Journey:
- User registers.
- Customer logs in and is greeted with a question about their goals, industry and features they are interested in.
- Sitecore stores this data to a persona and customer profile.
- Customer is greeted with personalised relevant content tailored to their interests, browsing history and onboarding journey.
Source: Sitecore 2018
6. Customer service research and improvement
Improve your customer service by embedding a feedback tool at every touch point to ensure you and your team understand and measure the quality of your customer support. Service-based companies do this well and ask the customer to provide feedback on the call, via SMS, digitally via live chat tools or in follow-up emails after a request is resolved.
7. Increase access to real-time customer insights
As marketers, having access to real-time customer data at your fingertips can give you the insights to double down on the marketing activity that gets you the highest results.
Feedback tools not only give you access to data but also present this information in a digestible format. Sitecorehas a range of seamless integration capabilities into data analysis solutions like Power BIso you can save time and automate your reporting.
Need advice and the tools to achieve your customer experience goals? Get in touchwith our team of digital engineers.
|John King, Digital Marketing Technologist, Speedwell