There is nothing more valuable in the world of marketing than customer feedback.
Without it, businesses would stumble blindly through the dark, desperately hoping their goods and services were hitting the mark.
That being said, customer feedback can be elusive.
A number of studies have been published in the last few years covering different aspects of customer feedback.
So in today’s post, let’s look at some of the customer feedback statistics and determine the effect it has on your business.
Let’s get started!
10 Customer Feedback Statistics You Need To Know
- Only 1 in 26 customers will tell a business about their negative experience.
The other 25 will simply leave without explaining or complaining. (Esteban Kolsky)
Are you one of those 25 consumers who, rather than complaining, will just take their business elsewhere?
If you want to retain customers, you have to carefully consider every piece of customer feedback you receive.
Your complaining customers represent a good chunk of the people who do business with you; treat them well and offer resolutions.
Check out this post next to learn more tips on customer relationship management.
- 48% of consumers expect a response to social media questions and complaints within 24 hours. (Statista)
- 40% of customers share negative reviews on social media. (Brand Mentions)
- 52% of consumers who had a bad experience told their friends, family, or colleagues about it on social media. (Oberlo)
While the telephone is a valid communication channel, it’s not the only one your customers are using.
More and more consumers are attempting to connect with brands online, especially on social media platforms for business like Facebook, Instagram, etc.
So if you fail to answer queries or address complaints, you’re likely to see attrition.
- Nine out of ten customers read reviews before buying a product. (Trustpilot)
- 56% of customers say a company’s response to a review changed their perspective on the business (Podium)
- 39% of consumers over the age of 55 say they trust reviews more than personal recommendations. (Bright Local)
Online reviews are huge. You better believe your current customers are leaving them, and potential customers are reading them.
While you may prefer to see a gaggle of positive reviews, the negative reviews can still be incredibly helpful.
They offer a chance to connect with a dissatisfied customer.
If you can solve their problem, there’s a good chance they will continue to do business with you — they may even become an advocate.
Now for more tips on how to get reviews for your business, read this post next.
- 83% of all consumers have completed at least one survey in the past 12 months…
…with an average of three to four being completed in that same time period. (Market Force)
- The average response rate for email surveys is roughly 30%. (Survey Any Place)
- Data suggests that if a respondent begins answering a survey, there is a sharp increase in the drop-off rate of 17% that occurs…
…when a survey has more than 12 questions or takes longer than 5 minutes to complete. (Survey Any Place)
Including surveys in your email marketing campaign are a great way to gauge how your customers are feeling.
In order to meet the greatest success:
- keep them short,
- offer incentives for completion, and
- don’t ask for feedback too often.
Once or twice a year should do it.
The most important things to remember when it comes to customer feedback are:
- Offer multiple channels of communication and keep them monitored.
- Make sure your customers can reach a real person in your company, should they desire to.
- Offer solutions in a timely fashion, and remain calm. Getting angry or defensive is the quickest way to lose business.
Customer feedback is a beautiful thing.
It allows you to identify your customers’ pain points, modify your products to suit their needs, and innovate within your field.
Once you’re able to accomplish these three feats, success is just a hop, skip, and a jump away.
If you need more help with managing your business’s reviews, check out our review management service here.