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Pocket Guide to Collect Feedback for Product Success GETTING STARTED Do you kno

Pocket Guide to Collect Feedback for Product Success GETTING STARTED Do you know how your customers feel about you? How are your customers advocating your business or products? Find out before it’s too late. According to Nielsen’s Global Trust in Advertising Report, 92% of respondents said they trust advice and recommendations from family and friends more than any other advertising form. This is so powerful that if you do everything right from your advertising to sale- one customer’s bad experience could cost you customer churn and vice versa. With social media, your customers can quickly share reviews with just a button press with the entire network. This makes collecting and evaluating customer feedback one of the most crucial tasks for your business; whether you are a B2B or B2C, customer feedback matters. Feedback helps you improve and enhance, whether you are an individual, group, business, or organization. Information received via feedback enables you to make better-informed decisions, especially regarding customer satisfaction and retention. 2 3 WHY FEEDBACK IS IMPORTANT FOR YOUR PRODUCT SUCCESS Feedback is a tool for continuous improvement: Investing time in asking and learning about your products. It is critical to know what your customers think, what suits the customers well, their least favorite aspect, and why. Asking these questions shows that you really care about your customer and product improvement. Continuous feedback enables you to align the goals, create strategies, develop product or service improvements, and much more. Good feedback intensiﬁes personal recommendations: Good feedback about your product or service acts as word of mouth advertising or referral marketing. Personal advice is one of the top motivations for purchase decisions. Companies can harness referral marketing’s power by asking for case studies, testimonials, and online reviews to advertise their products. Listening to customer feedback instills a sense of involvement and customer satisfaction: Asking your customers to provide feedback makes them believe that 4 their opinion is truly valued. It instills a sense of involvement and satisfaction, and they begin to have positive connotations with your product, which could lead to more sales. STRATEGIES FOR COLLECTING FEEDBACK Deﬁne a goal before starting to collect feedback: Don’t jump into collecting feedback with no clear goal. Deﬁne your goal ﬁrst. It will lead you to choose the right technique, audience, and tool. Don’t send the survey too early: Don’t push new customers to rate their loyalty right away. Send the survey at the right stage of your user journey. Customize your survey: Personalize the survey according to your user location, language, and stage of the user journey. Use contrasting or eye-catching design. Always align your survey with representing your brand, message, and use cases in the right way. Most importantly, pay attention to the text. Make sure that your survey associates with your target audience. A/B testing: To improve your survey performance, test multiple variants of surveys. Play with diﬀerent color schemes and UI elements to try which survey gives you the best results. Oﬀer an incentive to your respondents: If your responses and open rates are too low, oﬀer incentives to your respondents such as 10% oﬀ on the next purchase or free e-book or free coupons, etc. Follow a multichannel approach to collect feedback: Provide your customers with as many ways to share feedback as possible to gather actionable insights such as to send surveys in the app, email, or create forums to collect feedback. Turn conclusions into decisions: Read every feedback and comment and identify the root cause of the feedback. Devise conclusions from your analysis and implement the relevant recommendation for product success. 5 TYPES OF SURVEYS TO RUN FOR PRODUCT SUCCESS Product Satisfaction Surveys To better understand what’s working and not working with a new product or feature, run product satisfaction surveys. In these surveys, you can ask how satisﬁed customers are with the feature and what could be improved. Ask open-ended questions such as how disappointed users would be if there is a change in certain features. This is one of the ways to understand the value of the feature to them. Always share the product feedback with your product team 6 to iterate upon the product. NPS NPS (Net Promoter Score) is a type of user feedback that measures the user’s loyalty to your product or brand. There are two NPS questions you can ask your users: 1. How likely are you to recommend our product to a friend or colleague? 2. What is the reason for your score? The ﬁrst question is always measured on a scale from 1-10 7 and is used to segment users based on answers. The second question is used to get feedback on the customer’s high or low scores. Based on the answers from the ﬁrst question, your customers are divided into three diﬀerent segments: Promoters - Customers who answered the question with 9-10. This group is more than satisﬁed with your product, and they will be pleased to spread the positive word about it. Passives - Customers who responded 7-8. This segment is satisﬁed enough with your product to use it. Usually, they will not churn, but they will also not promote it. Detractors - Customers who replied 0-6. Detractors are customers who will likely churn and spread negative words about your product. Net Promoter Score is calculated when you subtract the percentage of detractors from the percentage of promoters. A company’s NPS score can vary from -100 to 100. For example, if you have: How is NPS calculated? 8 30% detractors 20% passives 50% promoters So, the formula for calculating NPS would be- NPS = % of Promoters - % of Detractors our Net Promoter Score would be 50% - 30% = 20. Upshot.ai is an enterprise-based omnichannel customer engagement and gamiﬁcation platform. Collecting feedback is one of the best ways to engage customers and improve Upshot.ai Dashboard UPSHOT.AI ADVANTAGE 9 your product or service. It helps you determine your customer’s loyalty towards your brand, predict churn and retention. Gathering product feedback is essential for product success. Product managers can use customer feedback to validate their product at key stages of the product life cycle. Designing a survey in the Upshot dashboard takes only a couple of minutes and can be made to match your brand fonts and colors. Upshot.ai oﬀers you multiple channels to send surveys such as NPS, opinion polls, rating requests, in- app surveys, and micro surveys. You can target speciﬁc groups of customers based on demographics or behavior. Track your survey results and download responses easily with upshot.ai. Amway, the world’s largest distributor company, leveraged upshot.ai omnichannel micro surveys as one of the features in their mobile and web app and was able to observe a 400% increase in monthly active users. Zyto leveraged upshot.ai in their iOS app called “Reframe” to improve user’s perception of personal issues. We sent rating requests to users to get their feedback and were 10 able to experience a 43% increase in user engagement. Schedule a demo today to know how we can help you with product success and get a personalized walkthrough of our dashboard. 11 www.upshot.ai info@upshot.ai connect@upshot.ai Trusted by top brands SCHEDULE A DEMO uploads/Geographie/ pocket-guide-to-collect-feedback-for-product-success 1 .pdf