Ecommerce businesses worldwide are learning even more that being online serves them well in changing and challenging times. Cloud-based technologies keep flourishing amid the pandemic, and modern technology and social media augment the lack of physical connection with clients.
Many factors boost eCommerce businesses, like business automation through software, SEO (Search Engine Optimation), distributed teams, remote operations, and the like.
But one of the significant factors why eCommerce businesses flourish is customer feedback. It provides competitive advantages for business and keeps customer experience (CX) up despite the circumstances.
There is such value in customer reviews, not just because they increase profits. They can help your business expand and provides social proof for brand credibility.
Customer feedback is an effective marketing strategy that’s straightforward yet highly profitable. You do not have to worry about paying for substantial marketing campaigns. Just focus on the quality of your service, product, and engagements. The excellence of your work will make customer feedback work on your behalf.
The Flexibility of Customer Feedback
Businesses can collect feedback via e-mail, phone calls, social media platforms, live chat, and other UGC (user-generated content) posts. For instance, you can be tagged on social media platforms by your avid fans, which can be considered customer feedback.
Automated customer service chatbots or apps also help get useful client input outside live support sessions.
Your business must employ all means possible to gather data about your customers’ needs, requests, and expectations. You can boost the website experience for potential users if you can supply a demand or fill a need. You learn those accurately through customer feedback.
What is the Importance of Customer Feedback?
When potential and existing customers can seek out information on their own about you, customer feedback is necessary. Consumers just trust feedback from fellow consumers more than what you say about your brand.
When audiences find more positive reviews of products and services before making a purchase, it helps them choose. No brand is perfect, and even the best ones get negative reviews.
But if you have the majority of your customers giving you a nod of approval, that goes a long way for you. It offsets any negative review.
The way you respond to complaints can be a plus point for you. So, do not despise answering “negative” feedback, not for their sake, but yours. Good or bad, you cannot afford to ignore customer feedback.
According to Big Commerce, online reviews matter and is like lifeblood for eCommerce businesses. Here are some stats proving that:
Customer Feedback Statistics
- A product or service with at least five reviews has a 270% more probability of purchase than products and services with no reviews. – Spiegel Research Center
- Compared to one year ago, 54% of buyers had a greater demand for customer service today. For customers 18 to 34 years old, the expectation jumps to 66%. – Microsoft
- Google and Facebook are leading platforms for customer reviews. – ReviewTrackers
- 93% of audiences say reviews impact what they choose to buy. – Podium
- Around 63% of CX experts optimize feedback and prioritize investments in better product development, optimal customer services, and meaningful customer experiences. – Oracle
- Around 30% of customers share online feedback on products. – KPMG
- Negative reviews turn off 80% of consumers from making a purchase. – Cone Study
- Around 70% of customers change their views about a brand, depending on how it responds to online reviews. – Bazaarvoice
- 97% of customers in a study say that poor customer service experience changes their buying behavior. – Zendesk
- 79% of customers say their complaints regarding poor customer experience were ignored. – Harris Interactive
- 91% of unhappy customers will just leave a brand without complaining. – Salesforce
- A US study found that businesses can lose about $62 billion yearly because of poor customer service. – Vonage
- 84% of customers trust online reviews or recommendations from family or friends. – Broadly
- Businesses that promptly reply to at least 25% of studies have an average 35% ROI increase. – Womply
Benefits of Customer Feedback
It Helps Businesses Make Better Decisions
Feedback from customers can significantly aid in decision-making, and live online business chat is the perfect way to get immediate feedback away from conventional phone conversations or email.
Customer reaction will help you recognize minor tweaks and make you aware of existing and future developments that favor your company. Reviews are critical to consider current customers’ level of satisfaction, which otherwise makes you make smarter long-term decisions about your company.
If a large proportion of your customers recommend a new product feature or request extra customer support, please listen to them. After all, your consumer is your living.
Customer Feedback Boosts Customer Experience
Knew that for every customer who complains, a total of 26 other customers who feel similarly say nothing? They just leave your shop and never repurchase it.
By assessing satisfaction rates across the entire consumer experience, you will understand what consumers think of your company and products — from the very first time they come to your website until when they place a buying order.
Over time, you can study these findings and discover what gets someone so happy about your brand on Instagram and say all their friends. Use this knowledge to streamline consumer service and create satisfied consumers.
Monitoring Customer Satisfaction is Easier
Dependent on your company’s thoughts, your customers would either sink or float. Knowing how the audience thinks about you early on is best because you can discuss concerns and solve problems. The earlier you answer your questions, the better your brand looks. It shows you care about correcting your faults and painting you positively.
Monitoring customer loyalty is much more straightforward by gathering reviews regularly. To ensure the brand gives everyone what they want and need and has a solution, you should make the requisite changes.
Aids in Product or Service Development and Improvement
Consumer reviews from their business’ live video chat can be used in product creation to ensure that the final product satisfies customer expectations and addresses all problems. Listening to your clients will help you develop a product or deliver what they need.
In today’s dynamic market, businesses that intertwine product creation and consumer reviews will be the ones that enjoy very good competitive advantages, have brand-loyal consumers, and earn great customer advocates.
You will use what consumers say to enhance your goods and services. Pay attention to repeated feedback or concerns to remove the issue. Assess what customers didn’t work and what recommendations they make. The more data you gather, the better it is to simplify and give them what they want.
Customer Feedback Helps Retain Customers
Via the live chat customer service program, you can get instant customer feedback to help you understand whether they’re satisfied with your services or not until they leave your site.
If your customer gets irritated or perceives a competing deal to be better than anyone else’s, he may start testing out other alternatives and could be stopping your company. Feedback from your disappointed consumers lets you develop your product offering and can proceed with your services.
Businesses Minimize Customer Acquisition Costs
If you genuinely consider who your target client is and can give them an outstanding service, it can reduce your operating expenses. You’re providing loyal buyers a better experience to continue buying through you. They’ll also post product reviews most often.
And when you realize who your primary audience is, you can redesign your website copy and marketing platforms to talk to them more.
The outcome — more buyers at reduced prices.
Customer Feedback Guides in Creating Quality Content
When consumers understand the brand first, they do their homework. With too many e-commerce opportunities open, people can afford to be picky about their spending money.
If you don’t give them useful stuff, they won’t see a point hanging around.
After hearing directly from them, producing content specific to your target demographic is simpler. You should ask them what they want, what challenges they want to solve, and much more.
See your audience as part of your performance, and seek truthful reviews, no matter how negative. To strengthen your company and perform at a higher level, you must listen to people’s criticisms.
Conclusion: Great Services = Great Customer Feedback
It is simple yet effective. Customer feedback will organically happen if you keep focusing on providing excellent products and services. It does not happen overnight, but once it picks up, it gains momentum fast.
Businesses can even go viral just through customer feedback. While making sales and selling your goods is crucial, it is equally vital to satisfy your target market.
Through their truthful reviews, your business can outrank competitors and strengthen your online presence. So, do not hesitate to request consumer reviews or recommendations.
If your customers love your product or your service, it will be natural for them to do willingly. Contact them to create happier, deeper, more fruitful consumer relationships.