Word of mouth recommendations from happy customers can be a great way to attract new customers. But did you know that unhappy patrons tell between nine and 15 people about their negative experiences with a brand?
Are your customers happy with your company? If you can’t definitively answer this question, you’re missing out on significant growth opportunities, and you may be losing sales and customers. The majority of dissatisfied customers will leave without voicing their concerns. Unless you’re surveying customers as part of offboarding, you won’t know what the issues are and your customer retention rate is bound to need improvement.
Collect Feedback to Improve Customer Retention and Future Sales
In addition to discerning where you need to improve, two other benefits to collecting feedback are:
- Guiding future product development or offerings.
- Building customer loyalty by showing you care.
Gathering feedback doesn’t have to be a long and painful process. Here are three methods you can use to find out what your customers think about your company.
(1) Ask for feedback
People are usually happy to share what they think if you ask them. As part of an ongoing process – from onboarding, their lifecycle as a client, and part of offboarding – regularly ask for opinions from your buyers. Organizations can request feedback via email, in-person, on your website, by phone, or even via snail mail.
(2) Listen to what customers are saying
Conduct social listening by monitoring for any brand mentions on social media. Some people will tag the company accounts, but others will reference the name without actually tagging. Establish a process or invest in marketing technology to keep tabs on what people are saying about the brand.
Another way to listen for feedback is to read online reviews. Google, Facebook, Yelp, and others offer the ability to rate companies and leave reviews. Monitor and interact with all online social media posts and reviews (positive and negative) as it’s appropriate.
(3) Review website analytics
If you offer online self-service support in the form of published content, check your website analytics. Look at the bounce rate and the time visitors spend on specific pages such as your FAQ page. A high bounce rate is a good indicator that you’re not answering the right questions.
Fight Customer Churn with Sales Coaching from FocalPoint of Illinois
What are you doing to learn about your customers’ sentiments towards the brand? Schedule an appointment to find out how Jack Belford and FocalPoint of Illinois can help you strategize a plan to fight customer churn and keep customers coming back.