With the choices consumers have in this economy, it’s easy for them to move around.
If the customer doesn't like the experience, they will find another business to spend their money at.
There are several ways to use customer feedback to fight attrition rate, which is the percentage of customers who stop using a product or service and are no longer loyal to your business.
With attrition rate in mind, imagine a 39-year-old architect a loyal customer to a bank for two years who writes several online reviews about her experience.
In a recent study from ReviewTrackers, it was discovered that customers who write online reviews expect a response from the business in seven days or less.
They Are Just Never Wrong