The true cost of not listening to your customers
At Rapide we have the technology that can help your organisation sell more, inform fast and engage everyone. With this in mind we have found some valuable research that shows why our engage solution, Rant & Rave can really help your business.
A recent study by the British Quality Foundation and the Chartered Quality Institute found that:
- UK Businesses are wasting a staggering £79.6 billion a year correcting errors.
- 40 billion hours a week are spent on correcting errors.
- 1 in 5 employees believe their organisation doesn’t deliver what their customers want.
- More than half of all employees spend 10% of their time correcting mistakes.
- Over a 1/3 say their organisations do not measure the cost of mistakes.
Rant & Rave is an award winning and innovative way of gathering customer thoughts at the point of service delivery, getting your customers engaged, at a lower cost to your business.
To help your organisation identify errors, Rant & Rave alerts your organisation as and when problems occur. This allows you to reduce customer complaints in a timely fashion helping save your business money while reducing negative word of mouth.
Why customer experience is one of the most critical and determinants of brand strength and business growth
Another study by the Chief Marketing Officer (CMO) Council, sponsored by Satmetrix, highlights a critical absence in the way organisations evaluate, optimise and influence a customer experience to drive loyalty, improve brand value and increase business success and expansion. It shows:
The way in which organisations collect customer comments and opinions is poor and fails to identify up-sell and promotion opportunities.
Rant & Rave works by gathering people’s thoughts as soon as they experience a product or service. It collects feedback instantly through two main channels – formal and informal.
The formal channel utilises cutting edge technology; SMS, Voice, Email and our Web Widget, allowing people to leave feedback directly with the organisation.
The informal channel uses ‘The Aggregator’ which searches the web intelligently for what is being said about an organisation which they may not be aware of, on blogs, forums and review sites.
By using a variety of customer communication channels Rant & Rave can help identify up-sell and promotional opportunities.
Organisations lack a real-time method of aggregating customer’s comments and opinions and that the information should be distributed across all areas of the business.
The Sentiment Engine works by receiving feedback from all customer channels. It then uses our unique algorithm to work out and assign scores and categories to each comment. The information analysed by the Sentiment Engine is available in a Dashboard which allows organisations a quick and clear view into their customer service. The Dashboard displays real-time graphs, statistics, categories and league tables as well as individual comments. It gives a clear indication to an organisation about how their brand, products and services are being perceived.
Organisations have nothing in place to measure online comments and opinions.
The Aggregator is technology that we have developed to search millions of websites, blogs and forums to find the feedback that’s important to your organisation.
The technology may be intelligent but the way it works is simple. You provide it with a set of requirements such as…
- Company name
- Keywords and phrases
- Product or brand name
…and the Aggregator searches the web for customer comments and opinions.
Executive Director of the CMO, Donovan Neale-May believes customer opinions are imperative to any organisation:
"Customer experience is one of the most critical and determinants of brand strength and business growth. Yet, most organisations and senior marketers suffer from major blind spots and gaps in the way they interact, handle and respond to customer issues or problems"
