Real-Time Feedback via Continuous Improvement Loop

Mar 25, 2020 | Blog

Subscribe

Stay up to date with the latest CX expert tips and news.

Technological advances have made it very easy for customers to share opinions instantly in social circles and among broader audiences. Instead of contacting a company directly to find a solution through traditional channels, most customers now prefer to express their dissatisfaction by sharing, tweeting, retweeting or disliking on social media. A recent survey conducted by Dimensional Research found that 86% of respondents who recalled reading online reviews said that negative reviews influenced their purchasing decisions. Customers are increasingly becoming more demanding and impatient.  It is a better business practice for companies to address their customers’ negative experiences before those disappointments are shared with the wider public! Capturing feedback in real time while the customer is still in interaction (in-store shopping, online browsing, in-app etc.) has become a core strategy for managing customer experiences. Loop for continuous improvement is a new solution that enhances this particular business management capability.

How do we address customer feedback in a continuous improvement loop?

Thousands of interactions occur between customers and companies every day. Each interaction can potentially result in a bad experience. But which of these interactions carries the most significant risks? How do we continuously and systematically measure and manage thousands of interactions each day?

Continuous improvement loop is a proven approach for managing customer experiences.  This loop enables brands to capture interaction-based customer feedback and generate actionable insights. Enterprise Feedback Management (EFM) systems are user-friendly means to automate the flow in continuous improvement loops.

Customer feedback in continuous loop represents a significant advancement in business management. During or shortly after an interaction between a customer and the brand, EFM systems trigger an interaction-based survey to the customer. By doing so, the system enables a real-time transactional net promoter score (T-NPS) using the corresponding channel (SMS, E-mail, website, mobile app, CATI, social media etc.) through which the customer initially made her/his transaction. Through captured feedback, brands can generate insight and report customer experience performances on automated, role-based dashboards.  Low scores trigger alarms, and tasks are assigned to relevant staff in the organization for remedial action to close the loop. This loop runs automatically 7/24 and 365 days!

Increased customer satisfaction, x-sell and up-sell, reduced customer complaints and churn, operations streamlined for greater efficiency… These are only a few benefits of running a continuous improvement loop.  They form a progression of continuous improvement steps.

Here are some concrete examples of benefits reported across different industries:

  • 27% increase in premium payments from promoter customers at an insurance company
  • 5% decrease in customer churn at a telecom operator
  • 10% increase in net promoter score at a retail company
  • 23% increase in customer satisfaction score in a financial services company

Thanks to continuous improvements, it becomes easier to get positive feedbacks from customers. If you wonder how to make a continuous loop, just consult our experts!

Why continuous improvement?

Continuous improvement lets companies monitor customer feedback based on communication, and then generate actionable insights. EFM systems automate this interactive flow in continuous improvement cycles, making it easier for companies to manage their existing corporate feedback processes.

What is real-time feedback?

Real-time feedback in customer relations is an approach that aims to quickly capture feedback and manage the business transaction while the customer is still interacting and communicating with the company on whichever platform. The continuous improvement cycle is one of the practical methods of this approach.

How to get real-time feedback?

The EFM system’s continuous improvement loop method causes a brand’s customer service unit to trigger an interactive survey to the customer.  Thus, the system enables a real-time transactional net promoter score (T-NPS) using the corresponding channel (SMS, E-mail, website, mobile app, CATI, social media etc.) through which the customer made initial contact. Through captured feedback, brands can generate insight and report customer experience performances on automated, role-based dashboards.  Low scores trigger alarms, and tasks are assigned to relevant staff in the organization for remedial action to close the loop.  This cycle runs automatically around the clock for 365 days a year.

Why is real-time feedback important?

Today’s current technological developments allow increasingly demanding, impatient customers to immediately, widely share their thoughts via social media tools. Instant social media content reaches and may discourage other potential customers.  The real-time feedback approach allows businesses to manage customer service before detrimental digital content and commentary spread rapidly to the wider consumer public.

Related Resources

Predictive Customer Analytics

Best Real-World Examples for Predictive Customer Analytics

by | Nov 17, 2022 | Blog | 0 Comments

From the birth of civilization until 1900, beneficial knowledge doubled every hundred years approximately. Following World War II, these intellectually fertile periods...

Close the loop

Don’t Ghost Your Customers! Close the Loop

by | Oct 11, 2022 | Blog | 0 Comments

Do you try to win your customers back with a free item or discount when they are unhappy with the service agent’s attitude? Do you consider to bolster staff training?...

Three Unique Ways to Boost Customer Retention

Three Unique Ways to Boost Customer Retention

by | Aug 27, 2022 | Blog | 0 Comments

What does Customer Retention Mean with Today's CX Expectations? Let's say you’ve decided to watch one of your favorite Netflix series on a quiet weekend evening at...

Customer Obsession

Customer Obsession: Vital Component of Growth

by | Aug 3, 2022 | Blog | 0 Comments

What is Customer Obsession? Before pointing out the connection between customer obsession and sustainable business growth, let’s agree on the terminology. In lots of...

sentiment and emotion analysis

Going Beyond Sentiments: Emotion Analysis

by | Jun 28, 2022 | Blog | 0 Comments

Emotions do matter: Sentiment and Emotion Analysis You have done everything you can to please your customers. In every aspect, your team of professionals provided the...

CSAT vs NPS vs CES Customer Experience Metric Selection

Customer Experience Metric Selection

by | May 30, 2022 | Blog | 0 Comments

CSAT vs NPS vs CES: The Complete Comparison The first step before deep diving into customer experience metric selection is to understand the main areas to address when...

Four Areas to Address When Measuring Customer Experience

Four Areas to Address When Measuring Customer Experience

by | May 24, 2022 | Blog | 0 Comments

Measuring Customer Experience Measuring customer experience gives companies the opportunity to determine whether their customers have a problem and understand how to...

CX Signals and Slack Pair for a Perfect Fusion in Organizational Culture

CX Signals and Slack Pair for a Perfect Fusion in Organizational Culture

by | Apr 25, 2022 | Blog | 0 Comments

Slack has come a long way since its inception back in 2009.  Currently, users send over 1.5 billion messages per month. According to Slack statistics from 2021, 88,000...

How to Choose the Right Customer Experience Platform

How to Choose the Right Customer Experience Platform

by | Mar 30, 2022 | Blog | 0 Comments

Choosing the Right Customer Experience Platform Leads to High-Quality CX   Customer Experience (CX) is the overall experience that customers have during the...

Request a Demo

Seeing is believing

Learn how to apply AI to analyze all the various CX ”signals” generated by your customers via surveys, text, complaints, social media, and other interactions. Discover how to quickly identify and flag the most important problems and opportunities, and then better prioritize your investments.