Customer feedback is the oil that keeps companies and business in working order, as with any machine, it requires proper care and maintenance. In the recent years, Customer Experience has become the top priority for the customers. Of course price and quality are still holding their value when they make a purchase decision, but Customer Experience has a great impact on them. In fact, researches suggests that 86% of buyers are willing to pay more for a great customer experience.
This means when two brands are providing premium quality products and one of them is giving a little higher price but a great Customer Experience, the buyers will prefer that brand. Did you know that Customers are willing to pay a price premium of up to 13% (and as high as 18% for luxury and indulgence services), simply by receiving a great customer experience. And why they should not?
After all, Customer Experience not only includes the buying experience of the customers, it constitutes the overall experience of the customers. A major part of it includes how you provide after-sales services and how you respond to Customer Feedback and Close the Feedback Loop.
For you, that means responding to all Customer Feedback, both positive and negative and ensuring that you are providing your customers with an experience that is far superior to your competitors. Everybody likes positive feedback and can respond to it simply with a Thank You message and with a small discount or free gift as a gesture of gratitude. Positive reviews make 73% of consumers trust a local business more.
But when it comes to Negative Feedback, it is something which must be taken very seriously and should be handled appropriately. Effective Strategies to Close the Feedback Loop should be followed in case of negative feedback. Let's explore some steps you should take while dealing with negative feedback.
Effective Ways to Deal with Negative Feedback
- Accept the Mistake
- Respond Quickly and Effectively
- Investigate the Issue
- Act on It
- bring Them Back
Let's learn how these ways can help you deal with negative feedback effectively.
Accept the Mistake
Mistakes happen, and there is very little we can do to prevent it. Humans can accidently mistype a number, computers may glitch over a sale item, it happens, nothing is perfect. However, when a customer expresses a concern over a mistake, it is important to accept it. It would not be the client's fault for a cashier or machine error, why try to blame them for purchasing your product!
Respond Quickly and Effectively
Having a customer support team is essential for quick responses and making sure all the data that can be gathered can be. Your company should respond to all inquiries within 24 to 48 hours of receiving them. It may take time to resolve the problem, but ensure that you are doing as much as you can to provide the customer a feeling of importance.
The importance of responding quickly lies with the fact that 53 percent of customers expect businesses to respond to negative reviews within a week. Many companies find that dedicating a particular agent to the ticket helps, that way there is no gap in communication. You can do so or you can use a good Customer Feedback Software for this purpose.
Investigate the Issue
If an investigation was not conducted upon receiving the ticket, it is important to see where the problem happened, to prevent it in the future. Most companies will handle the customer first which will allow for a more thorough investigation of the issue. If you are opting to wait, be sure to keep the client posted on the progress.
Act On It
Once you have found the problem, act on it. Does a machine need to be replaced, is a database starting to fail? No matter what the situation is, once you have pinpointed the problem, take the appropriate action according to your company standards. At this point, it would be wise to send out personalized messages to the customers impacted by this failure. After all, they deserve a thank you for providing the negative feedback that helped to show a flaw in your system.
Remember that your customers are not satisfied and you need to Close the Feedback Loop to improve Customer satisfaction. You have to do this through the actions you take.
Bring Them Back
One of the most upsetting points of negative feedback is that occasionally a customer's experience was so horrible; they turn their back to your brand. You can get these customers back if you follow the steps we have here. In fact, in a survey in the U.S., 70% of respondents said they would do business with a company again if their customer service issue is resolved in their favor. That is a huge profit margin for a little bit of email correspondence!
Resolving customer issues and handling the negative feedback that came with it are crucial to maintaining the integrity of your brand. When a situation arises where you need to handle one customer, to hundreds, have a plan in place to handle it and use effective ways to Close the Feedback Loop to prevent churn. The more prepared you are, the more you can learn from the situation. Mistakes happen, but don’t let that be the last impression your customers have of your company.