No matter what type of business you’re in, you have to deal with customers.
They are, after all, the foundation of your business, without which you would have no business at all. Putting a heavy focus on customer needs will help you in many ways, one of which is to create strong customer advocacy.
According to Harvard Business School Press, just a 12% increase in customer advocacy can bring 200% growth in revenue for companies.
So how do you build up advocacy? How do you use it to its full potential?
Here are 10 ways to use customer advocacy in your business, Let’s go.
Every company wants to provide a product that continues to make customers happy and meet their needs. This will provide a strong rate of customer retention and allow the company to continue to grow.
To do this, customer churn must be reduced.
But, first, you need to know exactly why they churn. Taking the time to dive into customer churn feedback will save not only money but also time invested in acquiring new customers. According to Forrester Research, it costs 5 times more to acquire new customers than it does to retain your existing clients.
Like most companies we wanted to increase our retention rate and one way to understand what customers did not like about our product or experience was to ask them why they left.
So that’s what we did. The churn feedback helped us decide what we should build next to keep our customers happy and even to iterate on our business strategy.
Let’s talk about our process and how you can implement it in your business too.
“When customers share their story, they’re not just sharing pain points. They’re actually teaching you how to make your product, service, and business better.”Kristin Smaby
Your customers are your lifeline, you know that.
But how much do you take into consideration how they actually feel about your brand?
You might think all your customers are perfectly happy. After all, your business generates sales, right?
Turns out, without actually speaking to your customers, you can’t truly know how they feel about you, your products or your business.
And, when you’re armed with that knowledge? You can grow your business and earn loyal customers.
In this post, we’re going to cover:
- NPS: A closer look at one of the most effective metrics to track if you want to build advocates for your business
- Why you can’t only focus on NPS alone
- How your NPS ties into your overall customer experience
Customer Feedback Loop is the process of enhancement for your products and services based on the feedback customers give you.
It allows you to implement change according to what your customers have to say. This is one of the best ways to improve your company in an efficient and meaningful way.
And a Closed Feedback Loop is when you follow up with the customers and show them how their opinions impact your business decisions. Which, in turn, can mean more conversions and long-term sustainability for you.
But for many companies, the struggles lies in how to gather customer feedback? And moreover, how to translate the data into actions?
Here is a step-by-step guide on how to establish an effective Feedback Loop and how to manage negative customer feedback and close the feedback loop.
As a product manager or a SaaS company owner, what is your main drive in building new products? What impacts your decision-making process?
Do you consider customer feedback?
Should the Voice of Customer influence product development?
In Frost & Sullivan’s survey research on R&D/innovation and product development priorities, 84% of the respondents declare that they employ the voice of customers (VoC) in their product development cycle.
You may have realized how customer feedback has become a huge focus in recent years. It is the most important factor in delivering exceptional user experience.
In this article you will find out why incorporating the voice of customers to your strategies can bring your business success.
Failure. It’s an inevitable human experience. We will all fail occasionally. But when a business fails in any key area, the results can impact its success.
And what makes a business successful? Customers making purchases. And what keeps customers making purchases? Satisfaction with your products or services and, of course, your relationships with them. The question then becomes how you determine the satisfaction level of your customers.
More and more brands are designing their products for positive emotions. The reason for this is simple: While brands used to ask questions like “Does this application work?” or even “Does this product work for you?”, there is one more pressing question at work when it comes to user experience. The question is: “How does our product make you feel?”
Positive associations are what makes users coming back, and brands are recognizing and designing for positive emotions.
In this article, we are exploring some ways to design positive user experiences.
Errors typically happen when things aren’t planned carefully enough, or when entrepreneurs are overwhelmed by the product development process.
With the right mindset and framework at hand, companies can do more than just launch products. They can create solutions to real challenges that users have.
When building a product one often wants to provide a solution to a real problem. But that is rarely sufficient to develop an enjoyable product which users can’t stop thinking about.
Here is where user testing comes in. By involving users in the product development process, companies can incorporate feedback in every product development stage.
In this article, we want to give you an introduction on what user testing is and why it is necessary. For an in-depth exploration of the topic, please see our ebook on “How to build products users love”. Happy reading!