Expert Opinion: Feedback fosters loyalty

Customer experience experts, Insight6, explain how responding to feedback from customers, drives loyalty and customer satisfaction.

Asking for and acting on regular customer feedback is critical to business success. Why? So, you can improve customer satisfaction, build loyalty, and ultimately boost your bottom line! 

Consider this: 84% of customers say their expectations are unmet, and 76% would stop doing business with a company after just one bad experience. By actively looking for and listening to customer feedback, you can address these issues proactively and ensure a robust customer experience strategy. 

Satisfied customers are a crucial part of any successful business. Organisations must ensure customers are satisfied across every touchpoint to stay ahead of the competition, win new business, and build customer loyalty. 

What does customer satisfaction mean?

Customer satisfaction is how well an organisation meets or exceeds the expectations of its customers. Essentially, it’s the result of a good or bad customer experience.

Recent studies show that companies with a strong customer experience focus have a 75% higher customer retention rate than those that don’t. Additionally, 86% of loyal customers will recommend a brand to friends and family, and 66% will write a positive online review following a good experience. Generating positive customer reviews is relatively simple and easy to achieve, and it should be part of your marketing strategy. 

How can you improve customer satisfaction?

Customer reviews and feedback surveys are the best way to improve customer satisfaction. This includes generating net promoter scores (NPS), customer satisfaction scores (CSAT), and customer effort scores (CES). Each method has its unique approach, but the goal is to gather as much customer information as possible about their experiences with your business. 

Continue reading on the Insight6 website.