We caught up with German-founded customer feedback analysis start-up Zenloop at Ecommerce Expo who provided an insightful session on how to identify churning customers, win them back, and how to analyse the reasons for their churn.
Founded in 2016, Zenloop works with customers in a number of verticals, from consumer brands, to travel, including award-winning Emma Mattress and footwear retail chain Deichmann. The start-up claims to have processed more than 7 million survey responses from customers to date.
Speaking at Ecommerce Expo, Shane Forster, Head of International, stated: “with 292 billion dollars lost from ecommerce simply from losing customers, there is a lot of optimisation potential here.”
Based on a practical example of how the tech provider’s SaaS platform allows businesses to monitor and respond to feedback in real-time, Forster gave the delegates a deep dive into how the solution enables a retailer to analyse customer feedback at scale!
Forster continued: “Firstly we need to listen to customers, so that’s the collection of feedback using the 0-10-point scale and we need to be able to understand that at scale too. You can read through the feedback and understand, it but when this grows to 2,000, 10,000 feedbacks on a daily basis it becomes really hard to understand what people are saying at a decent scale.”
Zenloop is able to overcome the challenge that retailers have in automating analysis of customer reviews, including sentiment, at each touchpoint of the customer journey.
Forster described how Zenloop can provide the optimal personalised retention actions based on machine learning algorithms. Thanks to the direct integration into a retailer’s customer service system they can react quickly to critical customers and win them back, boosting customer loyalty.
Forster described how retailers “can segment users into 3 categories. Users who are not happy and score 0-6 are retractors, 7-8 are passives and 9-10 are promotors. As a brand you want users to be promoting your brand/company and telling friends and family. Those who are 7-8 are not really adding value to the brand. Anyone from 0-6 are actually retracting from the brand. So, all the time and money you put in to building your brand, those users are just taking away. So, you really want people who are 9-10, those who are telling other people and bringing new users to the brand.”
“By measuring the NPS score across the customer journey it becomes a lot more valuable. So, we recommend our customers gather feedback at a number of different touchpoints. For example, after check-out, after delivery, after customer service interaction, and measure the NPS across that to get a holistic view of customer sentiment.”