As organizations across all industries continue to ramp up investments in experience management initiatives, it’s mission critical to be able to quantify the impact. SMG commissioned Forrester Consulting to conduct a Total Economic Impact™ study of the smg360® CX solution, identifying the real-world ROI our customers can see through their programs.
Within just 3 years, SMG clients can see:
▶ 551% ROI
▶ $14.7M in total benefits
▶ Labor turnover cost reduction of $2.8M
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18.4 B feedback records per year
88% of feedback data from non-survey sources
200+ API/out-of-the-box integrations
85,000 daily active users
>300 annual platform enhancements*
Highest score possible in customer relationship, success, and support criterion*
Clients 3X more likely to realize strategic program execution
10+ years’ average CX experience per employee
Top-ranked in services strategy*
“A standout when it comes to developing insights and partnership”*
>150 Top Partnership Insights awarded
Clients take action on insights nearly 2X as often
“…deep expertise in delivering highly relevant and actionable insights”*
Recognized as a Leader by Forrester*
Omdia’s only Vertical Specialist Leader
Named a Visionary in Gartner Magic Quadrant for VoC
CX partner for 85% of NRN’s Top 20 Restaurants + 30% of NRFP’s Top 20 Retailers
*The Forrester Wave™: Customer Feedback Management Platforms, Q2 2021
Presented with a never-ending stream of data, it can be hard to see feedback as the output of real, human interactions. SMG’s partnership with market-leading video feedback platform Voxpopme enables brands to humanize their feedback—overcoming challenges in motivating stakeholders by incorporating rich, contextual video into their existing feedback channels. SMG's VP/GM CX Solutions Charlie Moore sat down with Voxpopme Founder + CEO Dave Carruthers to discuss how an automated video feedback solution can help brands keep a pulse on the ever-changing mindsets and behaviors of consumers.
There are many reasons to be proud of our performance in Forrester Wave™: Customer Feedback Management Platforms, Q1 2020. But we’re especially excited to be recognized by our clients for “the strong value they receive from [our] combination of technology and services.” Want to know more about the “actionable high-quality insights” clients are raving about?
Local to global: How Shell tested market-level changes to make worldwide improvements
Solve the ROI conundrum
The state of the delivery experience
It can be taxing to keep up with fast-paced, high-volume ratings + reviews channels—but with 95% of consumers checking out reviews before making a purchase, brands can’t afford to ignore what’s being said about them online.
Knowing this, Signet Jewelers prioritized its online reputation efforts—looking for ways to easily engage with customers’ online reviews without wasting time navigating multiple sites or manually responding to each customer comment. The specialty retailer added a ratings + reviews solution to its XM program—allowing them to integrate ratings + reviews with solicited location-level feedback in the smg360® platform.
In this blog, we’ll take a look at the 4-step online reputation management strategy Signet Jewelers employed to enhance its digital experience, strengthen customer relationships, and drive business outcomes.
1. Engage quickly to close the loop on customer issues
41% of consumers say when brands reply to reviews, it shows the company really cares about their customers. So if customers are taking the time to leave a rating or review on their experience, they expect brands to also show some effort and respond—in a timely manner.
Knowing this, Signet leveraged the smg360 platform and implemented real-time, role-based alerts to immediately notify the right team member of reviews with specific star ratings or comments containing keywords. That way, Signet was poised to take immediate action on customer issues and drive problem resolution efforts.
Additionally, with in-platform response capabilities and the option of rotating response templates, Signet not only had access to customer feedback but was able to easily engage with those customers. This two-way communication provided Signet with a more efficient and comprehensive close-the-loop process.
2. Benchmark to gain market-level insights
Many online reputation management solutions provide data at the brand level—which is helpful, but fails to deliver the insights brands need to get a leg up on competitors.
In addition to internal benchmarking that sheds light on location-level performance, Signet needed to understand where it was winning and where it was coming up short against its competition. Location-level benchmarks gave the brand access to:
With the ability to benchmark against its top 5 competitors, Signet was able to understand how it stacked up in the market—gaining a clearer picture of what it had to do to improve and beat the competition.
3. Improve search rankings to increase traffic
Engaging with reviews isn’t just a way to win customer loyalty—it also helps brands win the long game with search engines.
When Google sees businesses are responding to customers, it rewards that engagement with a nudge toward the top of their search results. And with more than 90% of consumers saying they’re likely to click on the first set of search results, that placement is a huge advantage.
To be one of the first to show up in review listings, Signet prioritized its search page ranking by increasing their customer review responses. This led to improvements in review signals—an important part of the Google My Business algorithm.
By improving these metrics, Signet was able to demonstrate the customer experience directly impacted business results through increased exposure, store traffic, and ultimately, sales growth.
4. Integrate feedback channels for a holistic view
While unsolicited customer feedback provides unique brand perspectives and is an important piece of the customer journey, focusing solely on ratings + reviews provides only part of the customer experience picture
True actionable insight comes from integrating social ratings + reviews with solicited feedback in a single platform.
Combining Signet’s structured survey data with ratings + reviews added context to its satisfaction metrics and provided them with a holistic view of their end-to-end customer experience. Through real-time reporting in the smg360 platform, Signet was able to uncover actionable insights and drive meaningful change to the cross-channel experience.
Since implementing its online reputation management solution, Signet Jewelers has rapidly increased its responses to customers’ ratings + reviews, advanced its search ranking, and created a significant uptick in digital engagement.
Improve business outcomes with ratings + reviews
It’s not just star ratings and social chatter floating around online—ratings + reviews are an opportunity to directly hear what your customers are saying and ultimately improve your brand’s reputation through stronger customer connections.
If customers see you’re not engaging with their reviews, they won’t trust you. If consumers don’t trust you, they won’t buy from you. So if you haven’t made online reputation management a top priority, you’re losing customers.
But integrating ratings + reviews into your experience management program doesn’t just drive customer loyalty. It also provides:
To learn more about how SMG helps brands improve their business with ratings + reviews data, download the best practice guide: 4 ways to boost business outcomes with online reputation management.
Chris Bosco | VP/GM, Digital