Meanwhile, 10% of companies ignore feedback entirely.
Nearly two in five or 42% of organisations acknowledge feedback but fail to act upon them, according to experience management firm Qualtrics’ State of Customer Feedback report.
The report, which surveyed 500 consumers, found that just under half of customer feedback is being acted upon in Singapore, with 48% of respondents saying changes were made based on their suggestions. Meanwhile, 10% of firms ignore customer feedback completely.
A failure to act on insights and address negative experiences has an adverse effect on loyalty, according to the Qualtrics study. “Unresolved negative experience mean 84% of consumers are less likely to buy again. When the experience is resolved however, 54% of respondents are more likely to purchase again,” the firm noted.
Additionally, their findings emphasised the importance of making a positive first-impression on consumers, with respondents more likely to share a negative experience (58%) than a positive one (26%) following the first engagement.
Positive experiences with employees also lead to more feedback being shared. Three in 10 of respondents said they would share feedback following a positive engagement, compared to 15% who said a bad experience prompted feedback. Positive employee feedback was also found to be given over two times as much as negative employee feedback.
Meanwhile, the speed at which customers expect responses varies depending on the feedback channel used. Overall, 80% of consumers said they wanted feedback within 24 hours, with just under two-thirds (62%) saying it is received within this timeframe.
“With social media being entwined into consumers’ lifestyles today, it has emerged as a popular tool for customers to provide feedback. LinkedIn and Instagram should be consumers’ preferred feedback channel as this is where brands are most likely to respond within a 24-hour time frame,” the firm highlighted. Facebook was found to be the least likely platform to respond within 24 hours, though this is likely down to the sheer volume of feedback through the platform, Qualtrics explained.
Away from social media, email is the preferred option amongst consumers for sharing positive (39%) and negative (40%) feedback. Online reviews are also a popular platform for positive feedback, with 28% opting for this platform. When it comes to sharing negative feedback, phones are the preferred platform after email (18%).
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