In today’s hyper-competitive business environment, the best way for brands to continue growing sustainably is to ensure customer loyalty. According to research from Bain and Company, improving your customer retention could boost your business’s performance long term, as a 5% increase in retention can drive your profits by 25%. And customer loyalty is an outcome of brands delivering a superior customer experience compared to their competitors. Surveys have shown that about 32% of customers will abandon a brand after one bad customer service experience, making the tracking and analysis of customer feedback a serious task for any organization looking for sustainable growth.
Net Promoter Score (NPS) and user rating surveys have become the industry standard for measuring customer loyalty and satisfaction. Top brands use these surveys regularly to measure customer experience and improve user retention. Both these survey types can become an essential source of customer feedback, giving you an overall gauge of how customers feel about your brand, along with individual feedback. Naturally, you can leverage this data to address customer concerns in order to improve customer retention.
Have you ever started collecting customer feedback but then weren’t able to act upon the feedback received? It’s a familiar scenario for anyone in customer service or marketing. Being able to close the feedback loop is what truly makes collecting customer feedback a valuable activity for any business.
For example, an NPS survey directly enables you to segment customers into three distinct groups based on their sentiment toward your brand: Promoters, Passives, and Detractors. And then, you can follow that up by addressing the issues your detractors highlight, sending offers and discounts to passives to convert them to active customers, and leveraging your promoters for reviews, referrals, and so on.
But the biggest challenge marketers face in closing the feedback loop is data silos across different point solutions. Marketers have to rely on multiple tools for user analytics, NPS or user rating surveys, and marketing automation. This makes capturing feedback, continuous tracking, analysis, and customer engagement difficult and leads to suboptimal results.
Closing the feedback loop starts with gathering customer feedback. Ideally, you want to know what every single customer feels about your brand so you can send them messaging that is relevant to their experience.
CleverTap’s NPS and user rating survey, combined with its segmentation and engagement capabilities, now enable you to reach out to the right customers at the right moment for feedback. And the survey is sent through their preferred engagement channels, maximizing customer responses.
Once you’ve collected the feedback, you can easily track the responses and analyze them, in order to devise the course of action you want to take. With a point solution, you might have to migrate the data from the survey tool to another analytics tool for deeper analysis, or to compare data or to continue monitoring the data. But with CleverTap, data flows seamlessly into the analytics dashboard, helping you track feedback trends and campaign performance in real time.
Lastly, you’ll want to take action based on the feedback you receive from your customers and then measure the impact of your efforts on your NPS and user rating scores. CleverTap lets you group customers based on their feedback into segments. You can then engage these segments with personalized messaging and actions, delivered across one or multiple channels, to achieve true omnichannel experiences. Create highly engaging campaigns with offers, incentives, or even educational content that activates, converts, sources referrals and reviews, and more—all based on your customers’ feedback.
If you are looking for the right tool to gather NPS and user ratings along with qualitative feedback, then check out our easily customizable NPS & User Rating survey tool.
See how today’s top brands use CleverTap to drive long-term growth and retention