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Utilize Performance Reviews for a Better Marketplace

Utilize Performance Reviews for a Better Marketplace

How do you know where to go if you don’t know where you’ve been? This question applies to every facet of life but when running a marketplace it really connects with performance reviews. Performance reviews are widely-used for many benefits such as understanding customer needs or even internally with employees for updates and quality assurance.

Client focused reviews are especially heralded since they provide crucial insights on how and where to advance in your business. They may also provide issues that you would have otherwise looked over that come from client conversations or reviews. Phil Greenough provides four tips to best utilize your client satisfaction tests and surveys to strengthen the communication and improve your marketplace’s overall image.

1. Show You Care About Your Clients

It’s never a great idea to leave a transaction unresponded. A better idea would be to request a low involvement rating with a scale or simple multiple choice questions. This doesn’t annoy the client and lets you get just enough information to use for further changes if needed.

For direct interactions, always make sure to thank them for their time and that you appreciate their business. Well, appreciate all their business. sending a quick email can go a long way into making each individual feel special.

2. Find Weak Points

Performance reviews are a great opportunity to really pinpoint where your company’s weak points are and exactly where to focus on improving. Poorer rating can be a blessing in disguise because they help you grow as a business owner and understand your client’s perspective.

If a customer does give a lower than expected score, do not skip a beat and contact them as soon as possible for more information if they are comfortable with providing and grow. Never be bitter about a bad review and never show it to the client!

Related: Best Ways to Improve Conversions for eCommerce Stores

3. Create A Plan

After receiving your reviews you won't just want to read them and go on with your day. You'll want to really analyze and discover causes for certain points. This will take much more brain power but the results will be enormous.

Implementation is the next step and let your company be aware of any changes you make even if they are subtle, they affect the entire team and it’s always best for all the moving parts to understand the end goal.

4. Review The Reviews

After you have analyzed, planned and implemented your new plan you have to review the results. Everything needs to be analyzed in order to evaluate the changes and see if they were actually successful. Check if you are staying track on your timeline and where you want to be if things have shifted.

A good performance review program will take a lot of time and manpower but is undeniably worth it for the customized information you’ll be receiving. You will find your marketplace going down a better path if these insights are properly utilized. If you want more tips on how to be a better entrepreneur read 3 Things Every Entrepreneur Needs to Understand.

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Topics: Marketplace, Entrepreneur


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