[Kwerks - #8] Ask for a feedback as soon as possible
Don't take too long to ask for feedback from your customers.
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Metrics Impacted: Referrals | Brand Recall | Purchase frequency
Type: B2C and B2B
Previous tip: You might be spending more than you need (All tips here)
Recommendation:
Don't take too long to ask for feedback from your customers.
Send nurture/acknowledgment emails just after they have signed up or downloaded a resource.
Expected Effect:
We've always felt that people will return favors after however long we ask them. But studies, however, show that it's not the case. This reciprocity of favor wanes with time.
A study took place across eight hospitals where the patients were sent a request for a financial contribution. They sent out emails to patients asking for donations, at different times between their first visit, eg. 1.5 months, 2 months, 2.5 months, and so on.
They found that delaying a request for donations by even 30 days after the first visit, reduced the contributions by about 36%. This could clearly indicate a significant impact for any organization.
Why it works?
This is called the "Reciprocity Decay" effect. The impact of this effect on charities, marketing, and customer experience teams is very significant. People are hard-wired to both give and accept. But the things that seem significant to us at the moment, simply do not grab our attention a few months, weeks, or even days later. After a certain period of receiving, our present life gets in our way - work, family, etc. And the things that seemed important in the past will no longer be in our memory.
So it's important to prevent your customers/leads from forgetting you without them providing anything back.
How to implement this?
Don't wait too long before asking for feedback - Make the process automated and send out periodic reminders, not more than 2 times (if they don't want to give, they don't want to). Also, make it personal, based on the product, or the experience.
Note: Don't be immediate either. Give the opportunity to recollect the experience, so that they can give more honest reviews.
Ask for a smaller help - E.g. When a lead has downloaded a resource (eg. ebook), send them an email asking if they are in a position to introduce you to a decision-maker if they're not one. This is much better than asking them to request a demo or signup for the product, as some might feel that it's a big step.