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Wondering how to generate growth through feedback? According to Zendesk, positive reviews affect 90% of customers when purchasing a product. A long-term growth business plan includes customer centricity and CX management. There is a need to change the interactions between brands and their customers and increase consumer loyalty. To do this, pave the way for better decisions based on customer data by leveraging consumer feedback.
Growth through feedback
Businesses have been in turmoil this past year. Many organizations around the world have been forced to close their doors due to the COVID-19 pandemic. They have to fight harder to stay in business and keep their market share by intensifying marketing and analyzing customer data in depth. AlloReview, helps companies leverage customer feedback by analyzing it for you with AI.
Customer feedback is a wealth of information that helps companies make informed decisions about how to improve their offerings and align them with customer expectations. Feedback, supported by AlloReview analytics, allows you to identify customer pain points and respond quickly with personalized solutions to build customer loyalty. According to Segment.com, after a personalized shopping experience, 44% of customers believe they are more likely to buy again.
Increased importance of customer feedback
In 2022, converting consumer feedback into actionable business information will be even more important, as customer focus will be one of the most important competitive advantages. This method is an excellent resource for your company’s success, as it facilitates preparation for product development, ensuring that whatever you present will capture the attention and expectations of customers in the market you serve.
To be successful, you must reduce unnecessary costs, anticipate changes in consumer buying behavior, and integrate features/functionality into your offering. Expenses must decrease while revenues must increase. When you include customer feedback in your decision-making process, your products will have a stronger position in the market, customers will feel involved and relationships will be strengthened.
Wondering how to generate growth through feedback? Consider these six best practices to ensure customer feedback contributes to your company’s year-end results in 2022 and beyond.
- Incorporate the customer experience
We’ve found that integrating customer experience into future production has a clear advantage and allows companies to quickly anticipate customer needs and expectations, enabling them to deliver more remarkable results than those who don’t. Listening to customer feedback allows your company to improve the quality of its service and offering while strengthening the business link and its public image.
- Listen to your promoters
The positive opinions of your customers are an important source of growth for your company. However, today, very few of them give you their feedback because the current methods are too long and not very personalized.
With AlloReview, companies can listen to up to 70% more promoters and thus improve their image with potential customers. A brand that succeeds in encouraging its promoters to give their opinion obtains a significant competitive advantage.
This brings new reassured customers, higher ratings on the comparators, a loyalty of current customers …
- Customers can trust your brand
Growing your business means expanding your customer base. This means assuring customers and prospects that your brand messages and performance are transparent and trustworthy. When your current customers are satisfied, they will recommend you to other suppliers, partners or customers, and even to their family and friends.
Customer knowledge and experiences influence purchase decisions related to brand loyalty. They will come back to you if they feel they can trust you. You’ll need to ask around and get feedback from your customer base to determine the level of trust they use. Ultimately, knowing what customers need and want is critical to the success of a business. It’s now a critical decision to address them.
- Measures
Don’t measure success only in terms of ROI, revenue, products returned or number of support calls received. You won’t have an extensive database to make decisions in the next production loop.
Measuring customer satisfaction and expectations through customer feedback allows your company to grow and improve in the future. You will have a competitive advantage if you understand the value of your customers and how your offering meets their requirements, despite the pandemic. Customer feedback allows you to identify inefficiencies and improve processes, services and products throughout your organization. It also allows you to track key metrics and indicators throughout the buyer journey to achieve growth through feedback.
- Testimonials for improvement
You can get an overview of your performance over time by regularly listening to your customers and assessing their satisfaction. You will be able to compare your current level of performance to your potential once you have collected a large amount of feedback.
Continuously improve your product based on constructive feedback and monitor the impact of individual changes to your product in a broader context. This context drives your company’s growth and improvement. This is how you stay ahead of your competitors.
- Use voice-activated technology to grow your business — AlloReview
AlloReview is a voice of the customer solution that contributes to the customer-centric strategy of companies. It does this by helping you receive 4 times more feedback through the voice channel.
The best way to make your customers feel unique is to take the time to listen and understand their needs. AlloReview’s artificial intelligence allows us to understand what your customers are saying and to provide them with personalized call-to-actions and responses based on their satisfaction and the topic at hand.
With the benefits and tips listed above, you learn how to generate growth through feedback. To listen to their customers, companies and professional firms have used various growth hacking strategies. While customer feedback offers a competitive advantage, the distinction is not in the collection of the data, but in how you leverage it.
You too can boost your company’s growth and reputation through customer feedback with an innovative solution.
If you add a human touch to the business, your customers will love to tell you how to engage them 🤝.