Bill Gates stated at one time to use your unsatisfied customers to learn to better your business or company.
All business owners have a hard time to hear criticism even if they know the words are true or have been stretched quite a bit. Along with this, the owner may feel a bit unjustified and even know that the information is completely inaccurate. All smart business owners realize understand that bad feedback is important for them to improve their company. A Net Promoter Score known as NPS can add up to 6% to 7% increase in their revenue, the ones hit the most will bad feedback will feel the crunch.
The following are eight things all businesses, no matter the size can do to remove as much valuable information as possible from negative feedback received.
Collect Competitive Reviews
As you are checking the net for reviews on your company, did you know just how much information you can collect on your competition at the same time? Just read all the negative ones you can quickly see if your bad reviews are close or the competition or if they are worse. You will want to learn if customers have some of the same complaints. This will also give you the opportunity to see where your competition is weak which will aid in winning over their old customers.
Use reputation management software tools.
Today, with the advances in technology, you can actually find reputation management software tools to make your life easier, like the ones we offer at RepRevive. You will find a variety of easy to use tools and applications that will help to protect your brand as it can actually gather all the feedback, interact and engage customers, and even manage all of your online reviews. The tools can easily be integrated with more than 500 different apps, which will make your job much easier. A few examples of the apps offered include WordPress, Close.io, Eventbrite, GoToMeeting, HubSpot, and Live Chat to name a few.
Standard performance against others in your industry.
If over half of your clientele are quite pleased with your service, is that a sign that you do not have to worry much about bad reviews? Well, the answer would be to do some homework on competitors so you can learn if the competition is about the same is even lower than your satisfied range. As an example, you can use SurveyMonkey that can provide web surfers with information that will provide you with customer ratings on topics like returns, shipping, service, quality, and value which will help provide you with their standards performance or what is also known as benchmark performance.
Refurbishment services, products, and marketing.
The one thing that must be understood is that if you notice a bad review, this does not mean to completely give your company an overhaul. If around 8 people had the same complaint, such as customer service, then you should worry about this part of your business. If so many people are having the same claim is often a sign that others feel the same even though they do not add their reviews to sites like Yelp. The best feedback is what you get directly from your customers. Large corporations, may have a much difficult time as it can be very expensive to for large products and often service changes and in the majority of cases, is not worth the cost. Smaller changes to the product and marketing language can truly be a huge difference in reaching the goals your customers wish to see and improve their happiness.
We all understand we have small print on most of the information regarding a product and if often sounds like an attorney wrote the entire thing especially the return policy. It would cost much less if you have the information and return policy written so consumers can understand it without needing a college degree. This will give you more satisfied customers.
Educate and Train employees.
When it comes to customer service and sales, your employees need to understand the common complaints and the best way to handle them so they can turn it around and actually get the sale. The more your employees knew about the products, how they work, and a way to work the feedback loop your business will be doing much better.
Keep an eye on improvement.
Even if you are following all the above including training, working on products, and marketing is excellent, you must still keep an eye on how the feedback is affecting your business. You can use the net and read reviews on various websites or even have your own page for reviews. Every time you make a change should be able to notice an estimate on return on investment and learn if the work you are doing for your business makes sense financially.
Stay on top of the changes in your market industry.
Markets can so close to a roller coaster that it can be very difficult to stay on top of what is happening. If you find that you are receiving several complaints that your products are not working or only work a few times prior to having issues, you need to beat your competition to this information so you can correct the problem at once.
Bring bad your unsatisfied clientele and stop a bad reputation.
There is an old saying that states it costs around five times more to bring in a new customer than to bring back one of your regulars that became unsatisfied. It has been estimated that companies do not invest as much money in keeping their customers as they do trying to bring in new ones. It may be hard to believe, but if resolve the issue you can retain around 95% of once unsatisfied customers.
If bad reviews are already on the net, it is time to reach out to each one of your customers that you can, privately and publically to create a solution for their dissatisfaction.
Eric Welke is the cofounder of RepRevive, an online reputation management software company. He built his first website in 2006 and launched his first company – a boutique digital marketing agency – while pursuing his MBA in 2010. Eric and his companies have been featured in INC, The Huffington Post, Adweek, Inquisitr, Business Insider and many other publications. Business owners and marketing directors are invited to contact the team at RepRevive for a complimentary digital brand audit.