Understanding Customer Feedback With A Team Of Research & Data Specialists

A business can only be prosperous if it can continue to intrigue, attract its audiences and convert them into buying customers. For that, you must have products and services that resonate with people.

This makes it imperative to adapt to the shifting customer paradigm to ensure continued business success and optimal performance. And a significant part of this lies in harnessing the power of your customers’ feedback.

But before you approach them to collect their feedback, define what you want to achieve clearly. Make this an opportunity to enhance the user experience for them, so they feel privileged about being asked for opinions and advice. This will allow you to connect with them intrinsically and better understand and analyze their answers.

Let’s explore some ways that can help your business.

How Customer Feedback Helps Improve Your Business?

Leveraging customer feedback helps you enhance your existing and upcoming products and services and, ultimately, your business.

Your customers tell what they want, how they want it, and their pain points. This information can help you make significant additions or improvements to your brand’s offerings, showing your patrons that you value their opinions.

Since it costs companies 6-7 times more to acquire a new customer than retain the existing ones, it’s essential to utilize your customers’ feedback to keep them satisfied.

Most importantly, for customer feedback to help you improve your business, you need to share it across all departments. Internal teams can better support and learn how to address your customer concerns tactfully and reward the most valuable customers.

Whether you receive positive or negative customer feedback, it makes sense to improve your offerings and the overall business.

Here are a few ways to use your customers’ feedback that can help you optimize your business.

Adds Credibility

Using constructive customer feedback is an effective way to counteract the impact of negative comments and helps you enhance your business’s performance. You can add testimonials and positive reviews to your site, increasing the integrity, trustworthiness, and credibility of your products/services and the overall brand.

Furthermore, you can make informed decisions. For instance, if feedback demonstrates customers are not happy with your email response times, you can improve it. Similarly, if it shows that your customer’s preferred social media channel is Instagram, then you can be visible on Instagram to connect and engage with your customers. 

Boost Sales

Monitoring customer sentiment can help you figure out what exactly you need to say to entice your prospects to hit the buy button. Listening to their opinions and ideas online lets you know why they prefer certain brands over others, and you can use this info and become what they want to see.

This is the secret to long-term survival for many modern businesses.  Moreover, it also helps you grow a loyal customer base.

When you deliver an exceptional experience, your customers put their trust in your brand and purchase repeatedly. They might also refer your services/products to their friends, family, and acquaintances.

Shows You are Responsive

When customers suspect that your competition can better cater to their demands or become irritated with your products/services, they stop doing business with you.

Incorporating customer feedback into your business decisions can help you differentiate from your competitors and is a surefire way to deliver a stellar customer experience, especially in a market with fierce competition.

Predominantly, efficiently integrating customer feedback in a way that conveys to your customers that they are heard and taken seriously.

Also, you can benefit from negative feedback as it presents you with the opportunity to defend and clarify your stance with a personalized, polite, and thorough response. This, in turn, helps you maintain a firm image in front of your current and potential customers.

Directs Your Evolution

Are your customers unsatisfied with a specific aspect of your product’s design? Have they suggested a few changes? These suggestions are valuable assets for your business as they can help you innovate and keep up with the changing times.

Serves As A Road Map

Feedback from omnichannel sources such as online reviews of your customers allows you to decide better and gauge the approach you are taking on. Rather than speculating on what you hope or think your customers might want, you give them precisely what they have asked for. You can improve and move your business in the right direction.

How Outsourced Research and Data Teams Help You Understand Customer Feedback

Today, the data-rich environment has enabled and transformed customer analytics into something more. Essentially, research and development (R&D) is becoming the new marketing substitute.

R&D is an integral part of any business that helps marketers instantly access customer feedback, reactions, and behaviors across multiple media and channels. This, in turn, empowers enterprises to determine consumer preferences, meet customer needs, and help align supply and demand. In simple words, research and development are pivotal to driving your business. 

Furthermore, the role of research and development (e.g. Text Analyst, Reputation Managers, etc)  has emerged over the past few years and for good. You can get valuable customer data through various marketing research tools like surveys, phone interviews, and focus groups.

It helps you transform the customer experience through data collection and analytics. These avenues can uncover in-depth knowledge of consumers that businesses need to prosper.

Businesses also consider data outsourcing a great option where external providers help you manage and maintain all your business data, including customer-related information.

R&D is key to finding and understanding advanced data analytics.  This means you can capture your customer complaints and feedback at each stage in their life cycle while letting you take on a customer-centric approach.

In addition, insights and intelligence gained from analytics direct your organization towards appropriate solutions for customers. Integrating tools like cloud-based servers for customer data management can help your business enhance revenue, customer loyalty, and superior service.

To enhance the customer journey and improve your business, it is paramount to gather data from each customer touchpoint to develop an integrated idea of their feedback and interactions.

As more organizations adopt cloud-based solutions to optimize business performance, there is a greater need for cloud management outsourcing to help them manage. This evolution is a must for businesses looking to enhance their customer service numbers.

The right R&D team can not only help you understand what your customers want but also ensure that you choose the right services and solutions for the betterment of your business. Their services go well beyond the same old metrics as they convert plain data into powerful information that leads to better business decisions.

But why outsource?

• Access to World-class Talent at a Reduced Cost

A+ recruitment process and access to world-class talent allows them to build a great, high-performing R&D team within 30-45 days. They also have access to certified R&D experts and will curate a competency-based development plan to keep your dedicated team sharp so you won’t need to spend additional training cost giving you a projected operational savings of up to 70%

• Information Security

A great R&D BPO has an established information security system that makes sure your data and your customers’ data are kept secure, avoiding any type of breach and other security concerns. They should be ISO 27001 and 9001 certified and GDPR, HIPAA, and DPA2012-compliant. 

• Customer Satisfaction Rating

With a dedicated R&D team, you can consistently track your customer’s concerns and create an action plan to ensure that their feedback is not only heard but necessary actions are executed to address said concerns. This can help boost customer satisfaction rating and ultimately help you achieve your business goals.

Why does a high Net Promoter Score equate Operational Excellence?

Net Promoter Score helps businesses gauge the quality of the service offered by outsourcing companies. Organizations can use NPS to assess which BPO is best to partner with because this score shows loyalty trends and growth revenue outputs. In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy, and this results in customer loyalty and retention, making a high NPS a critical trait any BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Lastly, the right outsourcing partner promises for the following:

• Operational excellence
• Build a great, high-performing market research support team specifically designed for your security needs
• Operational cost savings of up to 70%
• ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant
• 71 Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

We can build you a great, high-performing R&D team:

• Research Analyst
• Account Research Specialist
• Business Analyst
• Database Maintenance Specialist
• Product Reputation Manager
• Threat Intelligence Analyst
• Threat Landscape Analyst
• Other R&D Experts

Let’s work together to build a great Research and Data Team.

Infinit-O is the trusted customer-centric and sustainable leader in Business Process Optimization to Small and Medium businesses in the Financial Services, Healthcare and Technology sectors by delivering continuous improvement through technology, data and people.