No two customer journeys are the same, but they have something in common —
Reviews. At the core of the feedback economy are “reviews.” Reviews improve customer service and improve a company’s visibility on search, making them more findable. Reviews influence the entire customer journey.
90% of retail consumers read a review before making
a purchase, and 72% read multiple reviews.
Reviews are just one dimension of the feedback economy. There’s also less formal input from social media, such as real-time tweets. And customer feedback from chat, portals, email, and numerous other touchpoints.
Businesses need to combine all that data with the input they collect from formal surveys – and then synthesize the data with the input they get from their CRMs to improve their customer and employee experiences, develop new products, and transform.
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Reputation helped Renault Group, a French multinational car manufacturer, increase their review volume by 197% between 2021 and 2022 globally.
Within a month, Reputation helped Intermountain Health increase from 3.7 to 4.5 stars and a 156% increase in review volume year over the first year.
- Who Are the Leaders in the Feedback Economy
- What industries can do to improve their online reputation
- Six key steps that every business can implement to thrive in an economy driven by ratings and reviews