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Customer feedback management (CFM) online services are web applications that allow businesses to manage user suggestions and complaints in a structured fashion. A 2011 study conducted by Aberdeen Group showed that companies using customer feedback management services and social media monitoring have a 15% better customer retention rate. [1]
Initially, Bazaarvoice focused on software that lets businesses add product reviews to their websites. [5] [6] Bazaarvoice later expanded to include software that allows businesses to analyze reviews, ratings, videos, social media, and other user-generated content posted by customers, [7] which is used by companies including Wal-Mart, AT&T and ...
In 2021, the company acquired Wootric, an AI-powered platform to measure and boost customer satisfaction. [8] In the same year, InMoment acquired Lexalytics, a language processing and analytics company. [9] In 2022, InMoment acquired ReviewTrackers, a customer review and reputation management software company.
Podium is a software-as-a-service platform designed to improve business online reputation. [9] It helps users manage business interactions in one tool. Users can communicate reviews, texts, chats, and post payment directly within the app. [10]
With a legacy of more than 100 years, the Better Business Bureau (BBB) is the go-to watchdog for evaluating businesses and charities. The nonprofit organization maintains a massive database of ...
The concept of customer relationship management started in the early 1970s, when customer satisfaction was evaluated using annual surveys or by front-line asking. [6] At that time, businesses had to rely on standalone mainframe systems to automate sales, but the extent of technology allowed them to categorize customers in spreadsheets and lists.
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