December 10, 2024

The Gift of Customer Feedback Featuring Isabelle Zdatny

35 minutes

Gathering, Acknowledging, and Responding to Customer Feedback

Shep Hyken interviews Isabelle Zdatny, Head of Thought Leadership with Qualtrics XM Institute. She talks about the importance of treating customer feedback as a valuable tool for improving customer experience, the decline in consumer feedback, and customer survey best practices.

This episode of Amazing Business Radio with Shep Hyken answers the following questions and more:  

What is survey fatigue?

How can negative feedback act as a valuable tool in preventing customer churn?

Why should companies prioritize genuine feedback over high survey scores?

What are the best practices for creating effective and concise customer surveys?

How many chances do customers typically give companies after a poor experience?

Top Takeaways:  

Customer feedback is a gift. Negative feedback uncovers areas for improvement, potentially saving businesses from losing customers to competitors.

Customer loyalty is fragile. High customer expectations and the ability to switch to competitors easily mean companies must work even harder to keep their consumers happy. "Nice to have" industries like online retailers, hospitality, and airlines must invest more in experience to establish trust and loyalty with their customers.

Customer service is increasingly becoming more important than price. More and more customers are willing to pay extra for convenient, hassle-free experiences.

Companies need to look beyond the Voice of the Customer. Other sources, such as customer history, support interactions, and social media, can help companies understand the full scope of their customers' experiences.

Isabelle shares stats from the 2025 Consumer Trends Report by Qualtrics. Here are some highlights:

61% of consumers shared that trust in the information that companies provide to them is a top priority.

53% of bad customer experiences result in a decrease in spending.

Customers are less willing to give feedback than they were a few years ago. Compared to 4 years ago, customer feedback after a bad experience has dropped by 8%. The number of customers who do not tell anyone about their experience has increased by over 6%

Plus, Shep and Isabelle discuss why getting honest feedback is more important than getting high metric scores. Tune in!

Quote: 

"The overall quality of customer experiences has improved. What's changing is customer expectations. Consumers are less tolerant of bad experiences, so when they happen, they are more likely to either decrease or stop spending money on a business."

About:  

Isabelle Zdatny is the Head of Thought Leadership with Qualtrics Experience Management Institute. She produces industry-leading content on experience management trends and best practices, including the 2025 Consumer Trends Report.

Shep Hyken is a customer service and experience expert, New York Times bestselling author, award-winning keynote speaker, and host of Amazing Business Radio.

Learn more about your ad choices. Visit megaphone.fm/adchoices

...more

View all episodes

By Shep Hyken & C-Suite Radio

8080 ratings