Consumer Feedbacks

Consumer Feedbacks on Webalue.com indicate insights into consumer loyalty and word-of-mouth activities among a brand’s end-users. Asking your consumers if they would recommend your website (brand) to others can provide valuable insights about how your current business (brand) will develop in the upcoming period (Reichheld, 2003). A similar approach of Consumer feedback has been adopted by many large companies like Allianz, T-mobile, General Electric and American Express to practice their customer-loyalty programs (Brand Republic News, 2007).

The Consumer Feedback function of Webalue.com involves asking your consumers a simple yet an extremely effective “would or would not recommend” question that is inspired by the findings of Frederick Reichheld (director emeritus of the world renowned consulting firm Bain & Company and a Bain Fellow). Reichheld concluded that, “the best predictor of top-line growth can usually be captured in a single survey question: Would you recommend this company to a friend?” (Reichheld, 2003).

He reasons his conclusion by quoting that, “When customers act as references, they do more than indicate they’ve received good economic value from a company; they put their own reputations on the line. And they will risk their reputations only if they feel intense loyalty” (Reichheld, 2003).

Brand Republic News (Feb 2007), ‘The new marketing metric: Net Promoter Score’; Brand Republic, retrieved on 4th January 2009 from http://www.brandrepublic.com/News/634234/

Reichheld, Frederick F.(Dec 2003), ‘The One Number You Need to Grow’, Harvard Business Review; Vol. 81 Issue 12, p46-54, 9p

(note: None of the above mentioned companies are associated with Webalue.com in any way)