All the sessions from Transform 2021 are available on-demand now. Watch now.
Loop plans to reinvent the customer-experience survey with its launch today to help businesses get customer feedback in the moment.
Loop is an iOS app that presents customers with a quick survey about their experience at a business. Loop captures the responses then and there, and founder Rajit Marwah said that this could result in up to 30 times more responses, as compared to traditional methods or user-generated sites like Yelp.
“Feedback and reviews are everywhere,” he said in an email. “They are at the bottom of your receipt, the check at the end of a meal, and in your inbox. Businesses want to know how they are doing so they can improve and many consumers want to share their experiences, good or bad. But when was the last time you (or anyone) bothered to fill out one of those cards or go to their feedback site? Everyone is in a hurry and just moves on.”
Marwah said that Loop’s main value is its immediacy. Surveys only contain five questions, so very little is required of the customer. It was founded by Marwah and his former Stanford classmate, Mike Liu. The two were working on a different project creating iPad menus for high-end hotels and restaurants, and he saw how challenging it was for these businesses to get feedback and reviews despite their efforts to do so. They saw the potential for mobile technology to improve upon this.
“The existing solutions are a bit intimidating,” Marwah said. “I know many people that don’t want to fill out 15 minutes surveys or write a long essay to review a place. We wanted to create a lightweight experience. Plus, companies like SurveyMonkey and Yelp are billion-dollar companies, so it told us that value can be created around this area.”
Gaining a glimpse into consumers’ minds is a hot ticket at the moment and scores of venture-backed data and social media analytics startups have cropped up to offer insight. There are also competitors like Vision Critical and Qualtrics Mindshare Technologies that also collect customer feedback through surveys. Loop is a simpler alternative to these products, but sometimes simple is better, particularly for small businesses.
Loop is “global on day one,” meaning it is available in 34 languages and in 155 countries. Archimedes Labs in Palo Alto led a seed round for the startup, which is based in San Francisco.
Photo credit: Loop
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more