Customer ratings and reviews are great at giving you a ‘snapshot’ picture of how your company is performing. They’re also an invaluable tool to help grow your business by simply letting people see what others think of you and how great your products/services are.
They’re also proven to increase sales conversions, average order value, and the performance of your paid and organic marketing activity.
Their powers stretch much further, though, and they’re worth so much more.
Customer ratings and reviews are great at giving you a ‘snapshot’ picture of how your company is performing. They’re also an invaluable tool to help grow your business by simply letting people see what others think of you and how great your products/services are.
They’re also proven to increase sales conversions, average order value, and the performance of your paid and organic marketing activity.
Their powers stretch much further, though, and they’re worth so much more.
The content of the ratings and reviews that Feefo collects are a source of actionable business insights that can be used to take your organisation to the next level. And as Feefo only collects reviews from verified customers - people who have experienced your services or purchased your product - the data has integrity, and companies can act on the insights they give knowing they are fake-free.
Let’s take a look at examples of how ratings and review data can be used by businesses elsewhere than promoting themselves.
Departmental collaboration and third-party negotiations
This is an area where we’ve seen clients across several industries - from retail to travel and more - use the data and insights we’ve provided to their advantage internally. For example, a retail company used live satisfaction scores to highlight the impact of late or missed deliveries on customers to its Regional Delivery Managers, who were unaware of the problems. Mapping the satisfaction ratings against a Lifetime Value model showed the effect this would have on the business over time to reinforce the issue. A solution was put in place, the problem was solved, and satisfaction scores rose.
Review data and insights from Feefo can be used to renegotiate external suppliers’ contracts and manage their Service Level Agreements too. Plus, where two suppliers are involved, sales data and insights can be used to compare them directly, making it easier to achieve the outcome you’re looking for.
Employee engagement
Creating employee leaderboards. Identifying training needs. Rewarding high-performing staff and teams. Providing quantified benchmarks. These are all things Feefo enterprise clients have driven using Feefo verified customer Net Promoter Scores (NPS®), verbatim feedback, Natural Language Processing sentiment results, and review grades.
This doesn’t need to be limited to call-centre or online customer service agents either. With our Location Feedback tool, clients can collect customers’ views on their ‘in-store’ interactions with staff too.
Sentiment - before and after a change
If your business is planning any significant changes in how it operates, verified reviews can be a source of real-time information that lets you evaluate the impact of that change. Mapping NPS® and review scores before and after implementing the change can give a rich source of data on the commercial implications of that change - the positive or negative.
Depending on your business model, changes and their sentiment/commercial impact can be tested in isolation to subgroups before being rolled out over the whole customer base too.
Understanding differentiation points
Brand and service reviews collected with Feefo let businesses discover what drives customer delight and the themes and topics important to them. Often this will reinforce what was already thought. But it can challenge perceptions too and expose additional customer experience strengths and weaknesses. This data can also show what sets a company apart from its competitors so it can leverage these differentiation points to its advantage in copy and promotions - both on and offline.
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Product demand insights
Review insights can help companies to decide which products to stock and sell. In turn, this lets them identify what products should be considered hero items and which shouldn’t so they can efficiently control their stock levels and warehousing.
Refining products or their descriptions
Verified customer feedback is an excellent source of insight for product developers and marketers - to do things like improve a product or change its description to manage customer expectations. For example, a retailer determined its second-hand electronic products were getting low scores because the product descriptions weren’t 100% clear. So, it added more details about the quality of the items and how they’d been refurbished on its catalogue pages. The product ratings increased, and that led to better conversion rates.
Reports and solutions that can support collecting reviews to provide insight:
Here’s a rundown of the reports and solutions that are available within the Feefo Hub you can use when gathering business insights:
- Product Performance: See how your whole product range is performing at a glance and the average rating per product. The tool’s AI technology automatically analyses the content of your customer feedback, helping to paint a more detailed picture of what matters to them. Its sentiment score analysis allows you to accurately measure customer opinion as well.
- Service Performance: In a similar way to Product Performance, this allows you to see how you are performing in terms of service. Again, our AI and sentiment score tools help you analyse customer feedback and understand their opinions.
- Feedback Breakdown: A simple breakdown of your feedback, including your current rating, the total number of reviews, and how many reviews have 1, 2, 3, 4, or 5-star ratings.
- Feedback Summary: View how many reviews are coming in, as well as the star ratings.
- Trends Over Time: The sentiment trend chart allows you to see how your sentiment score changes over time as you collect more feedback.
- Performance Graph: The performance graph groups feedback topics into one of four quadrants - advertise, focus, monitor, and potential - so you can easily identify issues within your business and take the right action.
- Reviews API: Lets you integrate your Feefo reviews seamlessly with your website and match the look and feel of your brand. It also allows you to take review content into your CRM platforms and track the metrics important to your business.
- Feedback Volumes: Visibility of the amount of feedback you’ve received over specific periods.
- Response Performance: See how many feedback requests are being sent out, how much feedback you’re receiving, and your response rate as a percentage.
Find out more - talk to us
To discover how verified customer reviews can deliver the data and the insights you can build your business on and the tools needed to do it, book a demo with one of our experts.
