Studies carried out on the feedback
Studies carried out on consumer behavior in different countries show us the need to improve communication between companies and consumers as a means of increasing the level of satisfaction.
Needs not met by the market
Who: The consumer
Is defined as any person who has had or may have interaction with a company/institution, with their employees or products and/or services and have something to communicate to them.
Needs:
1. Consumers want to be heard
• 68 % of consumers who stop using a product or service is due to the attitude of indifference of staff towards the consumer.
• A consumer who has had a negative experience with a company will tell between 8 and 16 people on average.
2. Consumers demand empathy
It is very difficult for a company to have a real customer perspective. Proof of this is the following study that shows the reasons why the consumer stopped using a product or service and compares them with the beliefs that managers have regarding the reasons why the consumer stops using it.
Consumer’s reasons
74% Quality of customer service
32% Quality of the product or service
25% Excessive price
Manager’s beliefs
22% Quality of customer service
36% Changes in consumer’s needs
49% Reasons related to price
3. Consumers want to have a simple service
• A study in England on consumer complaints shows that 23% of those who had a problem did nothing about it. The main reasons were:
- 43% It won’t be any use
- 22% I don’t know how to complain
- 20% I don’t have time to complain
• Consumers try to find solutions that help them by reducing time, steps and making the process simpler.
4. Consumers want effective communication
• The study shows how the resolution of complaints is not correct: 26% very dissatisfied, 54% did not receive an answer and 20% had unresolved problems.
Demands not met by the market
Who: The company
Those businesses seeking to increase sales by improving customer relations.
Needs:
1. Companies want to have satisfied and loyal customers
• Loyal customers are less price-sensitive and are the main promoters of the company’s products and services.
• The Harvard Business Review article “one number you need to grow” states that there is a direct correlation between the net number of “promoters” of the company and the company’s annual growth.
• It costs between 5 and 6 times more to acquire a new customer than retain an existing one (White House Office of Consumer Affairs).
2. Companies need to manage communication with customers
• A survey carried out by RightNow states that 92% of consumers who had a negative experience with the company would be willing to return if:
- They received a formal apology/rectification from a supervisor
- They received a promotional discount
- They received proof of real interest in the customer
3. Companies need continuous monitoring of word-of-mouth, of their reputation
• 79% of consumers who have had a negative experience with the company tell other people.
• 97% of consumers prefer word-of-mouth as a means of sharing their experiences.
1. There is space for new feedback channels
This situation justifies Easy Feedback offering a new communication channel that allows consumers to communicate their experiences in a personalized, fast and effective way to the managers/owners of the business. That is:
2. There is great potential for improvement and benefit in feedback
More information in: Easy Feedback Token
