Customer Feedback Management

• Best-in-Class companies are 1.7 times more likely than Laggards to rank their customer feedback management initiatives as "successful".
• Best-in-Class are more than 8 times more likely than Laggards to increase customer satisfaction.
• Best-in-Class companies are more than 26 times more likely than Laggards to increase customer retention.

By putting the right technologies, organizational resources, business processes, and performance metrics in place, companies can use customer feedback to not only understand the unmet wants and needs of customers at an aggregate level but to also engage them in conversation on an individual basis. From an organizational perspective, customer feedback facilitates a culture of customer centricity and progressive improvement.

 

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