In part two of this mini-series on the Voice of the Customer, we look further into the importance of ‘how to retain a customer’ and ‘customer retention strategies’.
It is essential to the growth of the company to understand customer comments and opinions and how they will have a direct bearing on the company. It takes unproductive guesswork out of the equation and allows you to have accurate information that you can use for the benefit of the company.
How a customer voice system affects your company:
- Shaping the company’s future: when you know how customers are reacting to certain aspects of the company you can use these facts to decide how you will develop the company in the future.
- A deeper look at sales
- Improving customer service
- Improve marketing: when you know how your customers are reacting you can tailor your marketing methods better.
- A better insight into creating and developing products
- A deeper insight into customer spending habits
- A better insight into employees’ performance regarding customer relationships.
How do you get a return on investment for a customer voice system?
In order to get the maximum chances of success from your customer voice system it is important to understand how to use it:
- Clarifying what the customer has said and the significance of it regarding company policy.
- Analyzing customer data so that you can differentiate between useless chatter and significant feedback.
The customer voice program can help you do this in the following ways:
- Provides an overall view of customer surveys and feedback over a prolonged period of time. This allows you to view what customers are saying and enables you to change company policies accordingly.
- Enables customer feedback analysis
- Allows you to split up customers into different segments
- Provides a graph to further allow you to analyze customer surveys and feedback
- Will provide alerts when there are too many complaints etc. This will let you take care of developing problems quickly and ensure that customers do not become so dissatisfied that they leave the company. Retention rates will not decrease if problems are dealt with quickly.
In conclusion it has become critical to every successful business to not only collect data on customer feedback and surveys but to act on it. This will lead to increased customer satisfaction and long term profits.
If you would like to know more about how the ASK LISTEN RETAIN System or how it can help create customer retention and loyalty, please contact us.