Closing the Customer Feedback Loop
Digital avenues of access between businesses and their customers are plentiful these days, and no matter what your business sells, customer feedback and reviews matter now more than ever.
Making the most of these interactions is an essential part of any savvy digital marketing strategy, as two-thirds of online consumers say they reference reviews when deciding whether or not to complete a purchase. That’s quite the spotlight at an incredibly important crossroads, so brands need to take steps to ensure their customer reviews and feedback shine.
Responding to outreaches creates a closed-loop customer feedback system. This varies from an open-loop system, which merely gathers data, by directly responding to customers who reach out. Closing the loop doesn’t just mean happier customers, it often means the difference between a one-time buyer and a long-term, loyal supporter.
Improve Customer Retention Rate
Whether on product reviews, social media comments, or email responses, there is no faster way to retain customers than by providing an exemplary interaction experience.
Responding to inquiries, comments, and even critiques in an honest manner builds trust between brands and customers. These impressions add up and affect a business’s bottom line, as even a 5% increase in customer retention can lead to a 29% increase in revenue.
Acknowledging feedback and reviews within twenty-four hours has been additionally linked to increased trust—and ultimately meaningful actions. Instant automated responses are a great tool to let customers know their outreach has been received, but ideally, they should be followed up by a representative shortly thereafter to fully close the loop and help guarantee retention.
Find Your Ace
If your business offers several similar products or services, it won’t take long for customer feedback and reviews to let you know which ones are a cut above the rest.
Identifying your ace—or most popular product—is an insight that digital marketing teams should keep a close eye on and be ready to act upon. This information can be documented and shared throughout the internal team so the product receives the proper resources production and marketing-wise to keep the momentum rolling.
When you hit gold with a product, you’ll know it not just by sales, but by glowing reviews left by customers. Surveys sent a few days or week after a purchase is made are a great tool to gather this data, and help give a business direction with where their digital marketing strategy should focus.
Businesses can even go a step further and reach out to positive reviews leaving customers to see precisely what they enjoyed and then replicate the effect in other products or services.
Customers appreciate businesses that take the time to acknowledge their feedback and reviews, as it shows the business is willing to listen—and act—to better serve their needs.
The trust created and insights gained makes an active, customer-friendly response system to feedback an easy cornerstone around which brands can build their digital marketing strategy.
Digital marketing strategy is what we do at The Artist Evolution. For more tips and tricks of the trade, check out our blog here for additional advice.