Don’t you hate it when someone talks behind your back? For customers, only one in 26 will complain of a bad experience. However, 13 percent of those who have a negative experience will tell 15 or more people, according to Esteban Kolsky, Head of Customer Experience Strategy for SAP. On the bright side, 72 percent of those who have a positive experience will share that with six or more people. Leveraging a customer experience strategy that promotes user generated content can help decrease negative customer experience and ensure satisfied customers tell others.
Word of Mouth Marketing in the Digital Age
It is human nature for people to share their experiences, both good and bad. But bad experiences are shared more often, which is amplified with the use of the internet as the reach is much farther. This is true whether the information is shared on social media, in online reviews or in blog posts or other forums. Rather than taking the reactive approach of addressing challenges after they have been shared with others, a proactive approach of seeking customer feedback throughout their journey allows for three things:
Real-time data collection
A better customer experience overall, and
Better containment and de-escalation of issues
Additionally, the feedback collected from Voice of Customer strategies can not only protect your brand, retain current customers, and enhance their experience, but it can also be leveraged as a tool to increase revenue and promote brand awareness.
A Strategy That Works
According to Gartner Research, how companies strategize what data to collect and how to analyze it largely determines the level of success achieved. This is evidenced by tangible results. For example, a 15 to 20 percent increase in up-selling and cross-selling and up to a 25 percent decrease in the cost of customer retention. The process is three-fold:
The best Customer Experience Strategy accurately identifies what data is the right data to collect from its customers. The information is then analyzed to determine things like inefficiencies, customer service issues, ideas for improvements, and more. Ideally, you are looking for patterns of consistent feedback that provide deeper insight into what needs to be changed. Finally, you implement changes that lead to better customer experience, which results in less churn, less cost of customer retention, greater sales and more positive shared experience about your brand.
Put Your Data To Use!
The information is there and customers are happy to share it. What better to use than user generated content on your website and ad copy? This invaluable data makes you more relevant to your target market. SuperOffice did this and increased its free trial rate by 60 percent. Are you ready to hear what your customers have to say?
Opiniion provides the tools you need for a Voice of Customer strategy to improve your customer experience. We have worked with many companies who have yielded tangible results and we can help you, too. Improve your customer experience, increase sales, retain customers, and grow your brand awareness by leveraging Opiniion in your Customer Experience strategy. Contact us for more information.