How to analyze customer feedback

Introduction to Customer Feedback Analysis: Riccardo emphasizes the importance of analyzing customer feedback for improving consumer experience and market performance. Customer feedback refers to satisfaction or dissatisfaction expressed directly by customers about a product or service. Types of Voluntarily Generated Consumer Feedback: Voluntarily generated consumer feedback is categorized into direct and indirect. Direct feedback is initiated by consumers through predetermined channels like hotlines and social media. Indirect feedback is expressed as a means of self-expression, often seen in online product reviews on various platforms. Analyzing Direct Consumer Feedback: Direct feedback occurs through channels like hotlines and social media, providing private information for the company to manage. Social media feedback is public, potentially becoming viral based on its positivity or negativity. Consumers seek answers from the company, expecting acknowledgment and resolution for their inquiries or comments. Understanding Indirect Consumer Feedback: Indirect feedback, expressed through mediums like online reviews, offers valuable information about likes, dislikes, purchase drivers, brand engagement, and consumption habits. Reviews can reveal consumers' reasons for choosing a product, their relationship with the brand, and insights into their overall satisfaction. Utilizing Feedback Insights: Insights gained from customer feedback can be applied in an ongoing cycle for continuous improvement. Applications include product development and design, marketing communications, and product and brand management. Decision-makers use consumer feedback to adapt strategies, improve features, and enhance the overall consumption experience.