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Customer feedback management (CFM) refers to the process of gathering customer feedback and leveraging it to make better-informed business decisions that are customer-centric. It involves integrating customer feedback from every channel to extract insights that can be implemented to improve products, services, and business operations.
CFM programs shift the focus from damage control to damage prevention. When used correctly, CFM programs help organizations keep up with changing preferences and customer pain points before they manifest into larger issues that have a negative impact on sales.
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We can categorize customer feedback into the following groups:
To simplify the process of CFM, we’ve broken it down into three main steps:
The first step of implementing CFM is to gather customer feedback consistently. This will provide you with an ongoing flow of real-time feedback from customers that can be used whenever any decisions need to be made.
There are many different ways in which you can gather customer data, whether it is through website reviews, email surveys, online polls, etc. Regardless of the method used, it is important that customers feel heard at every stage of their journey and are made aware that their feedback matters. Open-ended questions are useful to acquire information regarding customers’ true opinions.
The next step involves analysing the data collected to identify any pain points and areas that require improvement. An omnichannel survey platform, such as Voxco’s Survey Solution, is an invaluable tool that will allow you to gather, analyse, and interpret customer feedback effectively.
CFM is a long-term process. You must continue to consistently gather customer feedback and monitor important metrics such as NPS® and customer churn. When executed well, the CFM process provides organizations with a thorough understanding of what their customers want. By consistently tracking feedback, grievances and pain points can be quickly identified and eliminated before they manifest into larger issues.
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The following are a few advantages organizations can enjoy by incorporating CFM into their operations:
Customer feedback management, or CFM, refers to the process of gathering customer feedback to identify actionable insights within suggestions and complaints, and boost customer experience (CX) and business growth.
CFM improves decision making, boosts customer experience, improves products and services, and keeps a tab on customer satisfaction levels.
Some of the different kinds of customer feedback are;
Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld. Net Promoter Score℠ and Net Promoter System℠ are service marks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld.
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