The underlying goal of collecting feedback should be to andorra email list take action to improve the customer experience. This means closing the loop so customers know how their feedback affects policy, products or services. Loyalty increases when customers feel heard, understood, and valued enough to drive real change.
Executives ultimately care about money. Therefore, when presenting customer experience metrics, they should be translated into financial impact. For example, show how your efforts increased sales or customers instead of discussing social media sentiment.
On the revenue side, a good customer experience can lead to more new customers and referrals. Customers want to work with companies that treat them well. Dan urges connecting the dots and quantifying in financial terms the benefits that businesses gain from increased customer loyalty. This includes rigorously measuring referral business growth and repeat purchase rates as key indicators of business growth.
Retention is also important – calculating the lifetime value of retained customers. If retained customers increase by 10%, show the CEO the total amount of money you saved on churn.
” Dan said. We never call our service reps to praise them—we only contact them when a problem arises. If we eliminate the problem, the cost of service will go down.
Without action, data collection is essentially pointless, Dan said.
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