It’s quite simple – When you fail to listen, you fail to learn.
Companies that create an open and ongoing dialogue with their customers are more often than not companies that are trouncing their competition.
When multiple channels are made available to customers to provide feedback on performance, and appropriate measures are put in place to respond and act on that feedback, improved financial results follow.
Such feedback programs can lead to a treasure trove of ideas and customer insight that are invaluable to the ongoing health and survival of an organisation.
Yet too many organisations today still default to a ‘head in sand’ approach to listening to their customers. Indeed a recent survey by Allegiance, 71% of marketing executives rated their company’s feedback monitoring processes as either ‘Behind the times’ (15%), ‘Somewhat ineffective’ (21%) or simply ‘Adequate’ (35%).
Do any of these attitudes sound familiar within your organisation?
Customers will call us if they are unhappy. We have a contact form on our website – customers can find that if they want to give us feedback. We run a customer satisfaction survey every 18 mths or so – so customers already have a voice. More customer feedback results in more complaints and issues to deal with – we just don’t have the time. We know our customer’s needs better than they know themselves. No point in asking them and giving them false hope.
Customers will call us if they are unhappy.
We have a contact form on our website – customers can find that if they want to give us feedback.
We run a customer satisfaction survey every 18 mths or so – so customers already have a voice.
More customer feedback results in more complaints and issues to deal with – we just don’t have the time.
We know our customer’s needs better than they know themselves. No point in asking them and giving them false hope.
Sadly, many of these attitudes are commonplace. What these organisations fail to appreciate is that the link between best in class ‘Voice of customer’ programs and best in class financial performance is proven and unarguable.
Consider these research findings:
- According to the Economist Intelligence Unit, companies with engaged customers enjoy: improved customer loyalty (80%), increased revenue (76%), and increased profits (75%).
- Research from industry analyst firm Aberdeen Group shows that leading organizations with effective employee engagement strategies in place are seeing a 22% year-over-year improvement in customer satisfaction/loyalty and a 21% year-over-year improvement in turnover/retention.
- Research by PeopleMetrics shows that high levels of customer engagement are associated with improvements in many common financial metrics, including:
- return on equity,
- return on investment,
- gross margin,
- and earnings per share.
Time to consider giving your customers a louder voice? Great! We can assist!
• Purchase Experience
• New customer onboarding
• Customer support feedback
• Post training feedback
• Website feedback
• Post repair
• Install feedback
• Implementation feedback
• Product feedback & ideas
• Product Documentation feedback
• Packaging feedback
• Lapsed customer / inactive customers
The quest for true customer engagement:
When Your Customers Have Issues, Response Speeds Matter:
As the chart above shows, responding quickly to a customer‘s concerns
has a significant impact on the probability that the customer will return and
re-purchase from you.
Which Functions Are Most Likely To Be
Collecting Customer Feedback?
PeoplePulse Voice of Customer – What you receive:
Why Choose PeoplePulse?
Trusted by over 1,000 organisations since we were established in 2003, PeoplePulse combines the very best in online survey software & reporting with your own Project & Account Manager – with you every step of the way. Survey reporting experts from our Insights Division can even prepare, present and workshop your results for you, so you can free up your time to focus on implementing the insights you’ll gain.
Trusted by over 1,000 organisations since 2003: