When asked, 70% of customers will leave an online review for a business. This can lead to a treasure trove of information for a company regarding their products and services. However, even with this wealth of feedback, executives and marketing professionals still ponder how to best utilize those customer reviews. Can a business achieve its company goals with insights collected from customer reviews? If so, how?
Yes! Insights from customer reviews can easily be utilized to help a company meet its overarching goals, whether those goals are increasing revenue, beating the competition, or increasing employee retention. There are, in fact, many ways you can leverage review insights to make better business decisions for your company.
Beating the competition
Looking often at negative feedback, trends can help you identify any process issues that may be holding your company back. A customer review that negatively rates delivery time, for example, can be used to guide decisions about what carrier to use for your products. A change in delivery service can mean shorter waiting times, which means happier customers and an increase in repeated business.
Customer reviews that are negative towards a business’ customer service can spawn a change in customer service training, programs, and processes. The more valued a customer feels by a brand, the more frequently they’ll return, and the less likely they’ll run to your competition.
Noticing a pattern in whatever customers may be asking for or complaining about in their online reviews is an easy way to identify what new products would sell or what changes would help existing products to sell more. If you see a limited size range being consistently brought up as a negative in your online reviews, then it stands to reason that expanding the range would result in more sales. Or if you notice customers asking for new flavors of your beverages, then you can determine that demand is high and expanding your flavor range would result in increased sales.
Obviously, the more you’re selling, the more you’re earning, and the closer your company will come to meeting its revenue goals.
Increased employee retention
Do reviews continually mention a stand out employee? Is one of your forward-facing staff members always receiving high praise? Take note of that. Celebrate that individual’s hard work, dedication and exceptional customer service with some type of recognition.
Employees that feel valued are more likely to stay with a company than those who don’t feel that their work makes an impact. They’re also more inclined to work harder and with more focus. Businesses that have better employee retention rates perform better in the long run and are often more financially stable.
Increased marketing impact
If customer reviews continually acknowledge that Instagram campaign you just launched or cite a tagline that was prevalent in a recent campaign, that’s a clear indicator that those marketing tools worked. Double down on them. Brainstorm ways to use those concepts in an omnichannel marketing campaign. Work out new material that is similar in tone and voice. Once you’re able to highlight the marketing tactics that have worked for your brand, you’ll be able to create even more impactful marketing campaigns down the line.
If you’re looking for even more ways to achieve your company goals with review insights, reach out to ConsumerAffairs. ConsumerAffairs for Brands is the leading expert in brand reputation and review management. If you’re interested in making your reviews work for you, schedule a free demo to see how the ConsumerAffairs for Brands App can help make it easy and pain-free. Gain the knowledge and tools necessary to make your company stand out above the rest and ensure that those customer reviews insights are being utilized in the best way.