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Why bother investing in customer feedback solutions?

According to a report from American Express, three in five Americans (59%) would try a new brand or company for a better service experience. This reflects an emerging global trend.

Digitisation has resulted in customers being better informed than ever before; they also have more choice than ever before. If Company A doesn’t give them what they want they’ll go to Company B. As a result, global churn rates are rising – and companies are turning to feedback solutions as a means of turning back the tide.

The company that listens to its customer is able to identify causes of dissatisfaction and remove them; it’s able to do more of the things its customers like and want. Do that, and you retain customers and grow market share.

So, why bother with customer feedback?

Because, ultimately, it’s all about the bottom line.

 

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About author

Written by Andy Childerhouse

Andy is ViewPoint's Chief Operating Officer.

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