Feedbackly changes the game for customer feedback
The best products and services fill a real need. In the case of Finnish tech startup Feedbackly this has meant creating an all-in-one software tool for measuring and analysing customer feedback.
Knowing what your customers think can be worth its weight in gold. Which is why today customer feedback is collected through numerous channels, from physical stores and online shops to emails and mobile apps. But as the avenues grow, so does the challenge of managing the vast amounts of data they produce. This is the issue Helsinki-based Feedbackly has set out to solve.
“In the traditional model, customer feedback from different channels is gathered by a separate app, service or device specific to that channel,” says Jaakko Männistö, CEO and co-founder of the company. “We make it possible to gather all that feedback into one place.”
Feedbackly’s all-in-one platform can be used to collect, manage and analyse customer feedback across different channels, whether it is a website survey or an in-store device on the other side of the globe. It can also integrate with a client’s existing devices and services and all data is available in real-time through a unified dashboard.
According to Männistö, the whole package runs in the cloud and can be deployed anywhere without deep technical experience.
“This is a comprehensive feedback tool, you cannot find it on the same scale anywhere else,” Männistö explains. “You might be able to buy something like this for a lot of money, but there is no other scalable, cloud-based solution which is also targeted at smaller companies.”
The platform was launched for international markets in early May. Expectation are high as the market entry is boosted by 500 000 euros of fresh funding Feedbackly raised from a group of Finnish investors in April.
From hardware to software
Behind Feedbackly is the ambition of three students. Today the startup employs seven people, but the story starts from late 2012 when Männistö, Joonas Hamunen and Joonatan Voltti began building an easy-to-use feedback device for retail while finishing their university studies.
The tablet-based device attracted some big customers in Finland, but the trio soon realised one feedback channel was not enough to help companies improve customer experience and boost sales. Now the device is part of Feedbackly’s multi-channel platform.
“The feedback device is still an important part of our offering, but it is not the main thing anymore,” Männistö explains. “We have also changed our name [formerly Tapin Feedback] and completely revamped our brand to cater for the new focus and international growth.”
Feedbackly believes its all-in-one approach appeals particularly to retail companies and the service industry from banks to health care, where customer experience plays a crucial role.
The new service also enables Feedbackly to tap into a completely new sector: employee wellbeing. The cloud platform offers large corporations an easy survey tool to gauge employee satisfaction and get real-time feedback.
“The happier employees are, the better they do their work and create better customers experiences,” says Männistö. “This is why it is important to advance employee satisfaction and wellbeing and collect feedback from this side of the business.”
With the revamp behind it, Feedbackly’s focus is now on international markets. The company is building a reseller and partner network starting in Sweden and expanding to Germany, France and the UK later this year.
“Our international go-to-market model is to do our own sales and work with resellers directly,” Männistö says. “Where we expand depends on where we can find good resellers. There is no point to try build up sales entirely on our own.”
Feedbackly has timed its launch well. Consumers are growing increasingly powerful thanks to online reviews and social media, while global e-commerce players turn up the heat on the retail industry. The tougher the competition gets, the more companies have to invest in new ways to better serve their customers – and they will find Feedbackly waiting.
“The companies which offer the best customer experience will always win [in the market],” Männistö summarises. “We want to help companies to achieve that position.”