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Feedback improves satisfaction
Retailers which pay attention to customer feedback are 18 times more likely to increase customer satisfaction, and more than 40 times more likely to improve customer retention, than those which don't according to new research.
The ROI on Customer Feedback: Why it Pays to Listen to the Voice of the Customer is based on an analysis of 150 companies b
The report categorised organisations based on their use of customer feedback in relation to four main performance criteria: customer problem resolution, customer satisfaction, customer retention and customer advocacy. Companies were divided into 'Best-in-Class,' 'Industry Average' and 'Laggard' categories based on the analysis.
Best-in-Class organisations were found to reap benefits from customer feedback management programs, with leading companies were more than twice as likely as their contemporaries to have an established process to track customer feedback across all departments and channels.
“The harsh reality of a global economic recession has put companies under more pressure than ever to improve customer satisfaction and retention,” Says Empathica client services European vice president Gary Edwards.
Tagged as: customer experience
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