Build Loyalty and Positively Impact ROI through Customer Feedback
With half of humanity now on lockdown, the way businesses and consumers communicate is through digital channels. With this said, it makes sense that Customer Experience in digital channels is growing faster than ever, so it’s time to listen carefully and gather customer feedback.
The sudden increase in Internet use will come with an increase in online transactions. According to a study that GlobalWebIndex conducted, smartphone usage is up significantly in coherence with the rise in internet use.
“ 70% globally say they are spending more time on their smartphone, climbing above 80% for Gen Z.”
What does this mean for your business? An opportunity. It is essential that your mobile and web presence run as smoothly as possible, to satisfy your existing customers and engage new ones, and here customer feedback will play a huge role.
Unlock Business Growth using Customer Feedback
Recently, Hubspot conducted a webinar: Learning from Your Customers to Unlock Business Growth, in which different ways of approaching your customers in these times came up.
As a highlight, they mentioned AI analysis tools as key for businesses. A quoted study assures that 51% of companies already use some form of machine learning, and another 25% plan to adopt it in the next couple of years. That is why OPINATOR reiterates the importance of analyzing and acting real-time on what your current customers are experiencing,
“Globally, people are most in favor of brands responding to the outbreak by providing flexible payment terms (83%), offering free services (81%) and closing non-essential stores (79%).“
There is a power that comes with Customer Feedback. Use it to YOUR advantage. OPINATOR combines a real-time Text Analytics system -which processes and analyzes textual material, such as real opinions from free-text qualifiers- with real-time decisioning and actionable insights that you can monitor on powerful Dashboards. The main objective is to obtain certain behavioral patterns that will help you transform that relevant information into optimization, improvements, and revenue.
Additionally, and even more important, is that OPINATOR enables you to INSTANTLY drive revenue from Customer Feedback, transforming an interaction (everything happening in real-time) into a cross-sell, upsell or referral opportunity. To mention a practical example: if one of your customers just responded one of your surveys with a 10 in the NPS scale, as soon as the opinion is sent, they could get showed complementary products, or offer them a discount for sharing their opinion with their network.
Seek for Windows of Opportunity to Engage by Using Customers Feedback during Difficult Times
Living through a pandemic leaves no space for humankind but to adapt, and change in the technological era we live in today happens in a quick and deliberate manner. Oftentimes, there is not enough time to react to these situations how you would like to, therefore it is useful to learn from those who have been one step ahead of us, China.
We can analyze and see how they have been responding to COVID19 and maybe save some unnecessary steps they´ve taken in order to enter this economic rebound as strong and strategically as possible. According to a Harvard Business Review Article: How Chinese Companies Have Responded to Coronavirus, “some of the fastest-recovering companies proactively looked ahead and anticipated such shifts”.
A perfect business example to reiterate this would be a cosmetics company, Lin Qingxuan. Its gross sales used to come from physical stores, but during the toughest times, they were obligated to close them, so they had to fastly redeploy sales efforts to digital channels, and here is where Customer Feedback took a major role.
They achieved a 200% growth compared to their prior year’s sales. How you may ask? They improved their digital experience. Employees from their stores became advocates for beauty influencing online, and carefully listened and collected Customer Feedback.
They learned how to engage with their customers virtually to continue their sales. Lin Qingzuan gave a voice to their customers to provide them with what they wanted. They brought the human touch to digital interactions, and that is what kept their old customers engaged as well as gained new ones during the process.
Wrapping it all up
It is the perfect time to innovate and to truly understand what your customer needs are during these uncertain times, and you can do it by taking advantage of collecting real-time data and acting on feedback.
Find opportunities to create a unique experience that leaves a WOW impression on your customers. The main takeaway from this short article is that customers need to be heard now more than ever, and you can empower them to do so. Start generating value from Customer Feedback with OPINATOR!