The importance of real-time feedback

July 16, 2020

Right about now, customer experience is considered the key differentiator between businesses which succeed and those that lag in an era where competition is just a Google search away.

In fact Forbes recently noted two-thirds of companies now compete on customer experience, up from just 36 per cent in 2010.

For business, that makes understanding what works and what fails to hit the mark more important than ever when it comes to meeting the expectation of valued clientele.

But critically, addressing any issues needs to be swift, in the knowledge 65 per cent of consumers will cut ties with a brand over just a single poor encounter, and chances are they’ll also tell their friends.

That’s where immediate feedback comes into its own, allowing you to identify and address issues instantly in a bid to improve the customer experience.

Here are four benefits to instant feedback…

Identifying issues

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The key benefit of instant feedback is that it allows a business to understand exactly what’s happening on the ground at that moment in time.

That means the business has an instant insight into any issues occurring – whether it’s customer service that fails to hit the market, long wait times in queues, or a business environment which fails to live up to the customer expectation.

Not all news needs to be bad, however. Instant feedback may allow a business to recognise high performing staff or initiatives that really resonate with a consumer.

Immediate action

Perhaps more importantly, instant feedback allows a business to take instant action. That means you can remedy a small issue long before it becomes a big one that customers share via online reviews or poor word of mouth.

Say for example, feedback indicates wait times are too long. The business can instantly address this by calling in more staff or opening more registers.

Insight into trends

In addition to identifying isolated issues, instant feedback allows a business to recognise trends occurring.

For example, one venue may consistently perform well in terms of customer service, while another may have issues at a specific time of day.

That tells management that perhaps staffing levels need to be addressed during that time-frame, training might need to be improved at a specific outlet or maybe there’s a team of staff don’t necessarily work well together.

A fresh insight

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Most business appreciate the value of feedback, but asking for it instantly has distinct advantages.

When you seek feedback from the customer directly in that moment, you are more likely to get an accurate and insightful response.

If you then quickly act on that feedback, the customer is also more likely to forgive you any issues, while instant recognition of a problem builds loyalty and trust.

Meanwhile, a 2017 a Microsoft survey noted 77 per cent of consumers view brands more favorably if they seek out and apply customer feedback.

Why it matters

For business, seeking feedback offers a wealth of advantages, identifying customer pain points, potential new products they could offer, along with that all-important insight into the actual customer experience. It also helps identify the exact reasons a customer may consider leaving a brand.

Instant feedback takes this to a whole new level, allowing business to identify issues and success in real time.

And the reality is, the sooner a business can identify a problem that may be impacting their customer experience the better, as the following figures indicate:

  • More than half of Americans have scrapped a planned purchase or transaction because of bad service.
  • Companies with great experiences have a 16 per cent price premium on products and services.

Instant Feedback made easy

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If you’re looking to gain instant feedback, Moodly is a leading provider of innovative feedback hardware and software solutions.

Their easy to use feedback terminals offer an all-in-one solution so you can quickly seek feedback from your customers and enjoy up-to-the-minute analysis of the results.

View Moodly feedback terminals here.

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