Customer reviews are often the only interaction customers have with a company. Therefore, putting customer reviews in the core of your business can bring you lots! Read below to find out our top 5 reasons why customer feedback should be central in your company:
1. Improve customer satisfaction
Nowadays, customers are accustomed to getting what they paid for. Therefore, one of the main ways to differentiate yourself from your competitors is to offer exceptional products and services, which will leave your customers satisfied. How do you know though what your customers consider as “exceptional”? The fastest way to find out is to simply ask them! Encourage your customers to leave you reviews, so that you know what their thoughts are on your company. Find out what they love and hate about your products and work every day to improve their satisfaction levels.
Moreover, by continually asking them for feedback you can constantly adapt to what your customers would like to change about your products. And why should you do this exactly? Because according to InfoQuest, a “totally satisfied customer contributes 2.6 times as much revenue to a company as a somewhat satisfied customer”. The difference between “totally” and “somewhat” might not seem significant, but when this translates into 2.6x higher revenue, then you can clearly see why improving customer satisfaction is crucial!
2. Increase customer loyalty
If you have been following our blog, you know that acquiring a new customer is as much as 7 times more expensive than retaining an existing one (Invespcro, 2018). Therefore, invest as much time and effort as you can in building strong relationships with your existing customers. By asking them for feedback and following up on their reviews, you show them that you value their opinions. This will lead to higher customer loyalty and retention rates.
3. Increase word-of-mouth
The average customer today no longer trusts adverts and experts’ opinions, but would much rather see what other customers, even better their friends and family, think about your company. By putting customer reviews in the core of your business, you also increase the word-of-mouth and you easily gain new customers. Encourage your clients to leave you reviews on social media and thus you gain the attention of their friends and family. You also give them the so-called “social proof” that your company is legitimate and trustworthy.
4. Stand out from the crowd
Customer reviews are the difference between an ordinary and an exceptional company! By making your company customer-centric you show that you put your customers first, unlike your competitors who might put profits first! Build an image of a company which cares about and values their customers’ opinions and you will see them coming back to you again and again.
5. Build trust
Finally, by putting customer reviews in the core of your business, you show that you want to build long-lasting relationships with them. And this always starts with trust. Therefore, if you receive any negative reviews, don’t ignore them or try to hide them, but rather apologize and fix the issue as soon as possible. By being transparent you earn your customers’ trust and respect and this will always bring more business than marketing tricks.
By following these five simple tips, you can turn your company into a modern, customer-centric company, which can overtake its competitors with ease!