In 2025, feedback-driven companies will prevail!
From the spread of the Internet in the 2000s, through the cloud in the 2010s, to the rise of AI today, the costs of distributing, storing, and interpreting data have been reduced to almost zero. As a result, companies focused on collecting and using data have achieved major success. In 2005, SaaS companies were in vogue, and in 2015, data-driven companies dominated the market. In 2025, feedback-driven companies will prevail.
The value of feedback for performance
Customer feedback is critical to adapting offerings and improving sales. Companies that focus on getting feedback quickly through methodologies such as Agile or Design Thinking achieve better results by reacting faster to customer needs. They are able to test and adapt much faster to make sure they are surgical in addressing the user need. Moreover, the hegemony of NPS shows the importance that companies give to measuring their feedback. And that's a good thing, because according to CustomerGauge, a 10-point increase in NPS for B2B companies is equivalent to an increase of more than 3% in upsell, thanks in particular to greater loyalty.
+ 10 NPS points = + 3% upsell
Unlocking feedback through generative AI
Nowadays, managing large amounts of quantitative data is not so problematic. Indeed, many tools have been built around the data-driven approach, which consists in processing data to access new indicators in real time and make more informed decisions. However, companies are still struggling to process textual data, which represents a large part of customer feedback. More than 90% of them already collect customer feedback, so the raw material is already available. But this is not enough to significantly improve performance. According to the latest study of the French Customer Relationship Association, 5 out of 6 French companies do not analyze customer feedback, or do so in a limited way. Fortunately, the latest technological breakthroughs have enabled new generative AIs, such as ChatGPT, to process large amounts of textual data and derive satisfying learnings from it. Thanks to the combination of available data sources and new tools, a major breakthrough in feedback management is emerging: a new Eldorado is opening up to companies!
5 out of 6 French companies do not analyze customer feedback or do so in a limited way.
How to anticipate this strategic shift?
To adopt a feedback-driven approach and improve performance, it is essential to follow three key steps.
First of all, it is important to acculturate your teams so that they are able to collect feedback at all levels of the company. This means that a training phase is important to know how to effectively collect feedback, how to react to it and what to do with it once it is collected. Collecting feedback from employees is just as important as collecting feedback from customers. According to the former director of subscriber relations at Free, a 2-point increase in eNPS (employee NPS) results in a 1.3-point increase in customer NPS.
An increase of 2 points in eNPS (employee NPS) increases the customer NPS by 1.3
Then, you need to equip yourself with experience management tools, such as Synopsis, to centralize feedback and extract precise learning from it, all automatically. In addition, it is important to communicate about these feedback databases to ensure their dissemination at all levels of the company.
Finally, it is crucial to bring the strategic management of feedback up to the executive level to influence the strategy and optimize the customer experience. In concrete terms, this means building and monitoring dashboards that summarize customer feedback on the strategic axes for the current period. More and more companies are organizing themselves in this way, with the customer experience, UX or customer support teams in charge.
Collecting, processing and strategically steering data are the 3 key steps to adopt a feedback-driven strategy. Today, quantitative data allows us to identify areas of frustration and satisfaction. Tomorrow, with the possibility of analyzing mass qualitative data, companies will have the necessary finesse to understand why these areas exist, with a good confidence index. They will then have a significant advantage in the marketplace.
About Synopsis
Synopsis is a software company that allows you to understand at a glance everything people say about you: customers, employees, detractors and promoters. It aims at a feedback-driven world, where every major decision is supported by feedback. To achieve this, it relies on generative AI, capable of digging into text and extracting particularly relevant elements drowned in the mass. In concrete terms, Synopsis is a solution that aggregates all your feedback and provides you with precise and activatable learning.
