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The value of insight

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“Gone are the days when product quality alone is sufficient to win over and keep customers loyal. Feedback Ferret is a vital tool in helping us to deliver an excellent customer experience throughout the world.”

Mike Sopp, McLaren Automotive

By caring and demonstrating that you care about your customers, you can directly influence your bottom line.

How? It’s simple. You need to find out what your customers think of their experience. You need to ask them to tell you in their own words what they think. They will tell you exactly what they like, what they dislike and what might lead them to purchase elsewhere.

Then let the customer insight and text analysis engine work its magic and ferret its way through all those feedback comments. Armed with the results at your finger tips, you will be able to understand exactly what needs to be done to improve their experience, win back unhappy customers, and make loyal customers even more loyal.

You can…

1. Stop doing things customers dislike – Annoying customers is one of the best ways to lose customers. Make sure you know what they dislike and stop doing it!

2. Do more of what customers love and value – Find out what works and what aspects of their experience they love. Do more of it and continue to do it well.

3. Improve communications – Marketing messages can often be misconstrued, instructions or directions difficult to understand. Find out where your weaknesses lie and make the necessary improvements.

4. Improve products / services – Senior managers often think they know what products or services need improving, but how can they ever really know unless they ask customers what they want improving?

5. Improve processes – Processes evolve over time and better processes could save you resources, time and, ultimately, costs.

6. Improve staff – How do you know which members of staff are under-performing if you can’t keep an eye on them all day every day? Let your customers tell you who isn’t performing well and you focus your efforts on delivering training programmes or disciplinary procedures where necessary. And don’t forget to reward named staff who may be complimented in customer feedback.

7. Reduce costs – By reacting to negative feedback comments quickly, you can avoid PR disasters, stop issues being aired on social media and, quite possibly, reduce costs.

Finding out how your customers feel and whether their expectations have been met is the crucial first step in improving their experience. Armed with the answers to this, you can do any of the 7 wonders of customer insight, all of which have the potential to positively impact the bottom line.

7 wonders of insight

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