What will happen to companies who continue to neglect customer feedback?

39% of companies don’t regularly ask customers for feedback about their interactions

Source
Outgrow

Topic
Customer Engagement

Year
2020

According to a recent survey, nearly 40% of companies fail to regularly ask their customers for feedback on their interactions. This is a worrying statistic, as customer feedback is essential for businesses to improve and grow. Customers provide valuable insights into their experiences, both positive and negative, which can be used to improve products, services, and customer service.

The survey also revealed that customers are primarily motivated by price, quality, and convenience when making purchasing decisions. Companies that focus on these factors are more likely to succeed in winning and retaining customers.

However, the lack of feedback from customers can make it difficult for businesses to identify areas for improvement. Without regular feedback, companies may continue to make the same mistakes or fail to address customer concerns, leading to a decline in customer satisfaction and ultimately, revenue.

One way for companies to address this issue is to implement a regular customer feedback program. This can include surveys, feedback forms, and customer support channels, such as chatbots or email support. By collecting regular feedback, companies can identify areas for improvement and make necessary changes to meet the needs of their customers.

Another important consideration is how feedback is collected and analyzed. Companies should ensure that they have a system in place for analyzing and acting on customer feedback promptly. This will show customers that their feedback is valued and that the company is committed to improving their experience.

Failing to regularly ask customers for feedback is a significant issue for many companies. By implementing a regular feedback program and analyzing feedback promptly, companies can identify areas for improvement and ultimately increase customer satisfaction and retention. If you’re interested in learning more about how to implement a successful feedback program, book a demo at SalesLion.io today.

More 2020 Stats

77% of B2B buyers reported that their latest purchase was either “Difficult” or “Very Complex”

According to HubSpot, the length of a sales cycle decreased by an average of 15% when virtual sales tools were used.

77% of B2B decision-makers prefer video meetings over phone calls with vendors

76% of salespeople consider sales technology critical to closing deals

Why 40% of Sales Professionals Didn’t Achieve Their Revenue Goals in 2020

B2B Companies Achieve 63% Lower Customer Attrition and 55% Higher Share of Wallet in B2B Engagement

61% of customers believe that surprise gifts and offers are the best way to engage customers

77% of Sales Professionals Now Conducting More Video Meetings

Omni-Channel Engagement Preferred by Almost 78% of Customers

40% of all customer interactions will be automated through AI and machine learning by 2023

More Customer Engagement Stats

67% of customers prefer self-service over speaking to a company representative

26% of Shoppers are Likely to Share a Product on Social Media after Purchase

44% of People go Directly to Amazon to Start their Product Searches, Compared to 34% who use Search Engines like Google, Bing, and Yahoo to Search for Products

More than Three-Quarters of Online Shoppers Would Like their Orders Shipped the Same Day

8% of Online Shoppers Engage in a Live Chat Conversation before Placing an Order

41% of companies struggle to quickly follow up with leads

Around 45% of web store payments are made with digital and mobile wallets

Only 60% of sales reps meet quota

38% of People will Leave a Website if they find the Layout Unattractive

33% of US Females Aged 18-34 Say They Would “Ideally Buy Everything Online”

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