Many companies claim to be customer-centric. However, just a few are really able to achieve it. In some of our previous videos, we’ve explained how to switch your company from product-centric to customer-centric and why consumer feedback is so important for your business. This week, our CEO Riccardo Osti is advising you ask yourself 3 Questions to understand if you are managing customer feedback correctly. Asking these questions may show you if you are extracting enough value from this type of data, or not.
Let us know what you think about it. Are you managing to do it right?
In other videos, we already explained what customer feedback is and why it is so relevant for your business. In this video, I will tell you which three simple questions you should ask yourself to evaluate if you are extracting enough value from this type of data.
Analyzing customer feedback is crucial to creating winning products
One more time, consumer feedback is any kind of feedback produced by customers about a brand, its products or services. Analyzing this type of data, which usually appears in the form of text, is crucial to understand customes perspective and create new winning solutions for them.
So, what should you ask yourself to evaluate if you are managing this type of feedback correctly?
First question: How many things did my team learn in the last 3 months with customer feedback?
We’re starting from the basics here. If you have a feedback process in place, and maybe even a text analysis technology, you are most likely investing a lot of money in this. Consequently, you need to learn a lot of things to make quick wins and also design better products for the future.
If you don’t learn there would be no reason for running any analysis, and the return on investment would be negative. When you ask yourself how many learnings the team has made in the last 3 months, you should then have a clear answer in mind, as this should be your main KPI! If you didn’t make any learnings, then the technology that you use may not be actionable enough…
Second question: How many of these learnings have been transformed into actions in the last 3 months?
The natural step after identifying what could be improved in your service is to design a solution to actually improve it. Even if this seems like the most obvious thing to do, it requires a truly consumer-centric approach in order to be effective. I often see learnings made quickly and left there, just as fast.
So, if you ask yourself how many learnings have been recently transformed into actions, and you don’t have a clear answer, then there is something wrong in your feedback loop, or generally in your internal processes.
Third question: How many people in the organization have access to the learnings that you and your team have made?
Step one is to learn, step two is to act, step three is to share and amplify the benefit of customer feedback to more stakeholders. If you work at a multinational company and you realize that the insights that you produce are received by less than 10 people, then you should really meet with your boss and understand what to change in order to have an impact in the near future.
I hope that these three questions inspired you to become more consumer centric…please let me know what you have learned by leaving a comment on this video.
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Thank you and see you soon