Customer Experience (CX) is a hot topic among people in business nowadays. According to Forbes, there were just 36% of companies caring about customer experience in 2010, but now that number has risen to 89%! Companies are identifying CX as a surer way of gaining a competitive edge from other similar businesses. A customer is the one who has the fate of your company. Your company gets its revenue through a customer. If there is nocustomer, there is nobusiness. Depending on his experience with your company, the customer will decide whether he wants to continue doing business with you or not.
Customer experience is a broad term. It includes in itself many factors such as product quality, customer interaction, and complaint resolution. Many of these factors can be taken care of by using a single handy tool. This magical tool is an automated feedback system.
Now, what’s the difference between a conventional feedback system and an automated one?
Both work to achieve the same goal. That is to know what your customer wants and what makes him happy.
While in a conventional feedback system, we gather and analyse data manually, an automated feedback system gives you a head start by collecting and analysing data on its own. What you have to do is just review and make decisions accordingly.
Efficiency is very high when using automated feedback systems because the chance of human error is minimised, and it significantly saves time and cost.
Work that is done manually is tough to upscale. We need to invest more in human resources. This is not the case in an automated feedback system. The software works just fine when you upscale it without having to spend more.
Transparency and accountability are both greater when using an automated feedback system. When we work manually, reports and files are not always handy to be shared with stakeholders. On the other hand, all data, reports, and files are saved in the software and easily accessible by the management and stakeholders.
After looking at these differences, there is no hesitation in saying that automated feedback systems are far better to use than ordinary ones. Let’s see in depth what wonders can a computerised feedback system do to your company in terms of improving customer experience and hence, growing your business swiftly.
Improves customer satisfaction
Improving customer satisfaction means listening to the customer and knowing what he really wants. Asking for feedback is not the solution to all. We have to make the customer realise that their feedback matters to us, and the opinion they hold about the company is valued. This, in turn, develops trust and a sense of satisfaction in the customer regarding their experience with the company. Enhanced customer satisfaction is directly proportional to the customer experience. Therefore, taking regular feedback can highly benefit your firm to improve customer experience.
Helps to catch problems
Feedbacks help your company catch problems that can interfere with your brand image and building a good clientele base. Even if you test your product multiple times before sending it out to the market, there can still be some errors or possible improvements that you and your team might have overlooked. Customers are the actual users, and their experience with the product can tell where the problem is or how a few improvements can make your product a bestseller.
When you collect feedback from one customer, you work on further refinement and make sure the next customer doesn’t have to face the same problem. This keeps on helping you to improve and, in most cases, innovate to increase the number of happy customers.
The crux is, feedback system helps you catch problems, work on alleviating them, and improving customer experience to build a long-lasting relationship with them.
Wins customer loyalty
Winning customer loyalty is often one of the long-term goals of a company. This can only be attained when your customers have trust in your company. A large number of loyal customers mean high income. This is how:
Loyal customers are more likely to refer you to fellow friends and colleagues.
They tend to spend frequently and more.
More referrals mean more customers and, ultimately, high revenue streams.
Listening to customers and acting on their request/advice is an effective way to win customer loyalty. The feedback system helps you listen to the customer and act accordingly. It simultaneously improves customer experience, wins customer loyalty, and adds to your profit.
Reduces churn rate
If your goal is to reduce the churn rate, you need to know why a portion of your customers wouldn’t want to do business with you ever again. Is there something else that they’re looking for? Do they want more in terms of value for their money? Did they have a bad experience with customer service? It would be best if you had answers to all such questions to make better decisions to
To offer them a solution or compensate for retaining that customer
To make sure other customers don’t have to face the same state of affairs
(image retrieved from: campaigncreators.com )
Using a feedback system lets you know where the company is lagging and helps to catch problems in production, marketing, management, or customer service in realtime. Providing an exceptional customer experience will aid in retaining customers, which is the only way to reduce the churn rate. This task can be achieved using a fully automated feedback system.
An automated feedback system is a solution to all your needs. It gives you an idea of what the customer is expecting of you and in turn, helps you make important decisions to improve their overall experience with your company. It can give you a chance to improve your offerings and catch problems that your staff might have ignored, or you had never thought of. Taking regular feedback shows that the company is focusing on the customers’ needs and wants rather than just bulk-selling its present products. It instils in them a sense of trust and loyalty with the brand, which in turn helps you retain customers, reduce churn and attract new customers. All of these factors add up to generating positive revenue streams over time.