Most businesses would tell you that understanding their customers is of utmost importance but often quite difficult. This naturally means that customer feedback is a valuable resource since it provides an unfiltered way to understand what customers actually think. Simple right? Not really- a study found a full 42% (you did not misread that) of Companies don’t survey their customers or collect feedback.
Collecting feedback isn’t as easy as it sounds, especially at scale. Customers constantly provide unsolicited (and incredibly honest) feedback about their expereinces with a business- could be through emails, support calls, chat or social media. These inputs could offer a whole array of customer insight but only if you’re truly listening. Electronics retailer Best Buy uses NLP (natural language processing) tools to analyze billions of conversations with customers every year to understand what they needed to pay attention to and improve on. For example, when they learnt that customers were flooding the call centres to confirm appointments, they started sending out proactive confirmation emails to customers the night before. The result? 100,000 deflected calls per year!
What are some effective/ innovative ways in which you’ve seen Companies collect and analyse customer feedback? Let us know!
