If you ask any business where to begin when you decide to improve your customer feedback? The most common answer you would find is customer service.
It doesn't necessarily mean that you need to hire more support staff or get the most expensive CRM tools, the experience your customer has with your company is all that matters.
This means your customer service team along with the tools you use can be put to the best possible use to become excellent at customer feedback.
And if you are wondering why I have put so much emphasis on improving customer feedback here are a few facts why you need to do so.
So if you are interested, keep reading!
Facts About Customer Feedback you Didn’t Know
1. Bad Customer Feedback will cost you
According to research conducted on the impact of customer’s experience on a company’s success and found out that on average American businesses lose $62B to poor customer experience.
More importantly, what happens after a customer has a bad experience with a business and the results show a good 42% of customers will share their feedback on social media or other public domains.
2. One Bad Review = Dozens waiting inline
According to Lee Resource, every time a customer gives negative feedback about a business, there is a high chance of approximately 26 other unhappy customers who have not reported yet. This, in fact, is a positive outcome - since customer churn is around 50% every 5 years and they're simply leaving your business without you having to know it.
3. Never Ignore Customer Feedback on Social Media
According to Martinz Research, a study of more than 1200 complaints found on Twitter about various companies, only 29% of these customers got a response and the rest were left unattended.
On the other hand, the same study found out that about 83% of the customers who share their negative feedback on social media and got a response appreciated it.
4. Customers Beat Around the Bush
One dissatisfied customer can affect many minds regarding your business. Imagine a customer who had a terrible experience with your brand and convinces 15 people by telling them about it.
Yes! According to white house office of consumer affairs, 1 dissatisfied customer shares the feedback with 9-15 people on average. And almost 13% of all customers share negative feedback with more than 20 people in person or on social media.
But how do you improve your b2b customer experience and encourage them to give their feedback?
Since working with b2b customers is a little different and much less upfront - they will not be sharing feedback on social media for you to respond if a business fails to meet the expectations and deliver as promised they will simply switch to your competitor. Which is a much bigger problem, because, in a b2b market, you cannot afford to lose even a single client to your competition.
You may also like: How to improve your customer support by 30% instantly
I have gathered 8 foolproof tips to help you improve your b2b customer feedback instantly!
Tip #1: Speed up Your Communication
According to Temkin Group lack of speedy communication with a supplier is considered the number one pain point among B2B decision-makers, which equals twice as much as price.
Often times we ignore the fact that resolving a customer’s query then and there is not as important as catering to that request first-handly.
In fact, your customers would appreciate a quick reply from your end acknowledging their query rather than you getting back to them after 3 days with the resolution. Which is absolutely fair, since you wouldn't know what your customer had to face during that time you were fixing the bug or whatsoever the problem and on top of that, your customer had no idea that it's been taken care of and could be looking for alternatives in the meantime.
So if you want to improve your b2b customer feedback this could be one the easiest ways to begin with.
Tip #2: Improve Your Support on Mobile
Since most of the customers are available on their mobile devices, it is very much likely that they would want to have an equally great experience on their mobile as you provide them on the web. As it is recommended to have as many channels to reach out as possible, which includes social media and other mobile applications.
But if your business is hard to find through a mobile device (on the web or social networks) your customer might get frustrated every time they have to write you an email and follow up on the long and boring chains. As a matter of fact, 52% of your customers would leave your company due to a bad mobile experience.
You can avoid that from happening by creating an easy and mobile-friendly interface of your website and providing multiple social media channels for your customers to reach you.
Tip #3: Self-service is Customer Preference
Did you know? 50% of customers prefer solving your product/service issues themselves and almost 70% would like your company to have a self-service application or guide.
This not only helps take a lot of burden off your shoulder but also enable your customers to understand your product/service a little better.
Include self-service options for your customers to help them figure out answers to their questions faster - and you no longer have to worry about their response to it.
Tip #4: Don’t Test Customer’s Patience
When you fail to provide the customer with the experience they expected to have with your company, keep in mind the fact that there are many other suppliers ready to replace you.
As per Esteban Kolsky, 13% of customers are likely to tell about their bad experience with a company to at least 15 people. On top of that 67% of them said bad customer experience is the main reason for churn.
So the last thing you want is to get your customers frustrated to the point where it leads to churn. Why because only 1 out of 26 dissatisfied customer complain to the company and the rest 25 customers simply move on.
Invest your support team into providing better customer experience and you will see a visible improvement in your feedback since 67% of your customers are more likely to share a positive experience as compared to those with negative.
Tip #5: Customers Hate Waiting
There is no denying the fact that your b2b customers want a fast resolution from your end. Whether you are providing a product or service there is going to be an issue every now and then but what matters is your efforts and attempts to save that ship from sinking (or in simpler terms, customer churning).
The most customer still finds calling as their preferred method but only if the response they receive is quick and up to the mark. According to Vonage customers get frustrated when they have to stay on hold for more than 11 minutes and hang up.
An easy and effective solution for this could be providing a better and faster way to connect with you and for that automated live chat is your best bet!
You can opt for an AI-enabled chatbot to help provide a first-hand response to these customers and then connect them to your representatives if and when needed.
You can also train your chatbot to provide resolution for basic troubleshooting as well as redirect to relevant pages.
If you want to learn how to create a b2b website chatbot read this in-depth guide.
Tip #6: Retain Your Customers
According to CallMiner, Companies in the US face more than $136 billion revenue loss because of customer switching resulted from avoidable reasons.
It's 2019, customers don’t believe in forgiving and forgetting unless you deserve. One bad experience will result in switching to a different company!
Not only this, 50% of american consumers claim to have discarded a purchase or subscription they had planned to make due to poor customer experience.
Rather than focusing on getting new customers, you need to focus on your existing ones and how to retain them - and their feedback will improve itself.
Tip #7: Give Automation a Try
According to Genesys, 10-15% of customers have said that they are willing to stay on hold for more than 5 minutes. In order to get each one of your customers to get a timely response, you can opt for automation tools that are readily available to help you respond to customers faster than ever before.
Botsify itself is a b2b solution, dedicated to every b2b business of every industry in helping them optimize their customer support, fasten their resolution time and reduce their customer churn as a result.
Chatbots are being deployed to an array of industries now since the use cases and results are massive and the cost in exchange is comparatively low. Other than chatbots you can also find many other automation tools to help improve your overall customer experience. Here are 10 excellent tools for b2b companies to try
Tip #8: How to Meet Customer Expectations
Show your customers that you value them by meeting their expectations. How? Train your sales and support team to always cater to customer queries, despite having the answer to their questions or not.
Customers love getting a quick response from companies rather than waiting for them to come back days later with a solution.
One way to ensure that is by collecting your customer feedback.
Survey Monkey, Feedier, Survicate, UseResponse, and many other tools can help you create customer service surveys and in exchange reward each one of your customers. This motivates them to share their valuable feedback with you so that you know where your brand really stands. Create simple and engaging feedback forms to collect your customer feedback easily with these platforms.
Or you can create your own customized feedback collection forms with botsify to get an idea of their experience with your bot.