How can companies effectively measure the impact of customer feedback on their overall customer experience strategy, and what key metrics should they focus on to ensure long-term success in the competitive market?

Companies can effectively measure the impact of customer feedback on their overall customer experience strategy by utilizing tools like Net Promoter Score (NPS), Customer Satisfaction Score (CSAT), and Customer Effort Score (CES). These metrics can help companies track customer sentiment, loyalty, and ease of interaction. To ensure long-term success in the competitive market, companies should focus on key metrics such as customer retention rate, customer lifetime value, and customer churn rate. By analyzing these metrics in conjunction with customer feedback data, companies can make data-driven decisions to continuously improve their customer experience strategy and stay ahead of the competition.