It has never been easier for customers to give their opinion on the products or services they consume. Here are five ways you can use that customer feedback (good or bad) to improve your business.
Whether you like it or not, it’s never been easier for consumers to give their opinion about your business and make it public.
Gone are the days when feedback (good or bad) was written on an old-fashioned letter or given over the phone. Instead, in addition to telling their friends in person, customers use social media to voice their opinions as well as dedicated feedback websites such as Trustpilot , which means you have a goldmine of resources at your disposal.
Used correctly, positive and negative feedback can give your business a boost and help you improve performance.
Through this article, we will define what customer feedback is, ‘importance of collecting and using them intelligently in order to improve your product, your service, your reputation and better satisfy your customers.
What is customer feedback?
Customer comments or feedback is information provided by customers about their satisfaction or dissatisfaction with a product or service and the general experience they have had with a business.
Their opinion is a resource for improving the customer experience and adapting your actions to meet their needs . This information can be collected using different types of satisfaction surveys , but you can also find the opinions and reviews that your customers post online (more spontaneous feedback) and collect them at using online monitoring tools . Both of these sources are important for getting a complete picture of how your customers perceive your brand in order to subsequently process this gold mine of information.
Top performing companies understand the important role customer feedback plays in business. They systematically listen to the opinions of their customers. Not only are they looking for opinions their customers post on social media and reviews they give on websites designed to collect customer feedback , but they also deliberately ask for customer feedback by using different types of surveys (Mail, phone call, survey, etc.). If you want to stay ahead of the competition, you should never stop listening to customer feedback, whether positive or negative, solicited or not.
How to get customer feedback?
So where and how do you get customer feedback? Customer comments and reviews can take many forms. Here are some ways to collect and use them:
- Create free surveys and polls using services like Typeform or Google forms.
- Send emails to your customers asking for testimonials and reviews.
- Allow ratings on your website. (As for example here on this article, you can rate our content via the stars at the top right, we thank you in advance for your feedback :))
- Collect them on social media or ask for them.
- Talk to customers face to face
- Invite or search for blog reviews about your business.
- Check reviews on third-party sites, such as TripAdvisor and Tripadvisor if your business matches.
Here are the top 6 reasons why collecting customer feedback is important to businesses.
1. Customer feedback improves your products and services and asserts your credibility
When you launch a new product, brand or service in the market, you probably have a sense of customer needs. The market research you do before the introduction lets you know if potential customers would be willing to buy it and they can also give you advice on how you could improve it. However, it is only once your customers use your product or service that you can learn about all of its advantages, shortcomings, and their real experience. In addition, their needs and expectations change over time.
Customer feedback lets you know what is working well in your product or service and what should be done to improve the experience. You may have the best expertise in the industry in which your business operates, but your professional knowledge will never have more value to business performance than customer ideas . Their opinions help you make sure that the end product will actually meet their expectations, solve their problems, and meet their needs.
That’s why you shouldn’t hesitate for a second and collect as much customer feedback as possible through different channels!
2. Customer feedback helps you measure their satisfaction
Customer satisfaction and loyalty are crucial factors that determine the financial performance of a company . They are directly linked to many benefits, such as increasing market share, reducing costs or increasing revenues. Numerous studies have confirmed the existence of a strong link between the s customer satisfaction and business performance .
Therefore, there is no doubt that you want to make sure that your customers are happy with your products and services. Of course, the best way to find out if you are meeting their expectations is to hear from them. By using rating-based questions, you can easily estimate the level of satisfaction and hence predict the financial condition of your business in the future.
One of the most accurate methodologies that has helped many companies measure, manage and improve customer satisfaction is the NPS (Net Promoter Score). This metric is based on a simple question that studies the likelihood of a customer recommending a brand to a friend (Word of Mouth). The loyalty question response options are based on a 0-10 point rating scale, with 0 being an extremely negative rating and 10 being an extremely positive rating. This methodology is both simple and universal, so that every company can apply it to the customer satisfaction management.
3. Collecting customer feedback shows you value their feedback
By asking your customers for their feedback, you show them that their opinion is important to you, that they have an impact in the choices of your business. You involve them in shaping your business, so that they feel more attached to your business. Listening to their opinion and idea helps you build stronger relationships with them.
This is the best way to earn valuable ambassadors of your brand that will spread positive word of mouth for you. And we are sure you know that their recommendations are probably the most effective and, at the same time, the cheapest. to acquire new customers and become more trustworthy in the eyes of your current and potential customers.
People always appreciate you asking them if they are happy (or not) with your service. It shows that you value their opinion and are there for them, not the other way around. They feel your main business goal is to solve their problems and meet their needs , not to get their money. This places the customer at the center of your business and that’s the right way to run a business.
As a reminder, “the customer is king”! In addition, the more important a customer feels to the company and that they are satisfied, the more that customer will be loyal to you and will consume your product or service again. Therefore, the use of customer feedback should be included in your customer retention strategy .
So, what are you waiting for to give your customers the confidence?
4. Customer feedback helps you create the best customer experience.
Marketing today is heavily based on the experiences people have with products, services, and brands. Consumers don’t buy Apple products just because they’re good. They want to demonstrate their status and their affiliation with a particular group. They don’t buy Nike clothes because they are durable. They buy courage to push their limits. Therefore, if you focus on delivering the best customer experience at every touchpoint, customers will stay loyal to your brand. And of course, the most effective way to offer them a exceptional experience is to ask them what they like about your service and what should be improved, and to identify the most relevant possible improvements through your analysis.
5. Customer feedback is a reliable source of information for other consumers.
In the age of social media, consumers do not no longer trust advertisements or expert advice to guide them in their purchase. Reviews provided by other customers who have used a product or service are a more reliable source of information these days, in marketing this is called “social proof “, this is an argument present on many websites and landing page in order to reassure its visitors about the quality of its product or service.
When you’re looking for accommodation in a city you’re visiting or want to find a cool new restaurant to dine with friends, you read reviews first. When you want to buy new shoes, you ask for a review on Facebook or go to a trustworthy blog to read a review. Many companies today integrate rating systems into their services and products. Think of the Uber platform or AirBnb. They all do their best to ensure that bad service is detected and excluded from their business.
Customer feedback is also important to your business than to other customers , so you need to make sure that you and your customers have easy access to reviews and reviews.
6. Customer feedback provides you with data that helps you make business decisions.
There is no room for business decisions based on vague guesses in a highly competitive market. Successful business leaders collect and manage separate data that helps them shape future strategies. Only in this way are they able tailor their products and services to customer needs .
Customer feedback is one of the most reliable sources of tangible data which can then be used to make business decisions.
Customer information will help you understand customers and their needs in more depth. Take their suggestions into consideration and, thanks to it, find out where you need to allocate your money to get the better return on investment . You may find, for example, that developing a new product is not necessary in your case, but instead you should focus on promoting your brand to gain greater visibility. Feedback and testimonials are a valuable source of data, but you must learn to listen to them and translate them into actionable elements for your business.
If you want to stay on the cutting edge, you need to put your customers at the center of your business and view their feedback as your business’s most valuable source of information. They are the ones who use your products and services, so they know better than anyone what could be improved to make them even happier. Never ignore their voices. If you do not meet their expectations, they will find another company that will do it better than you .
Use customer feedback at all levels and in all departments of your business. This information will help you develop your products, improve customer service from your support team, and manage customer satisfaction. With customer feedback, you can be sure that your customers will stay with you, be loyal to your brand, and therefore spread positive word of mouth for you. Having dedicated brand ambassadors is the gold your business needs to grow!
Remember, customer feedback is everywhere. Learn how to collect them using different tools and methods. Carry out surveys in different forms and find the opinions that your customers publish on the web (Social networks, blog, forums …). Do not underestimate comments about your products and services and try to be always responsive and fair in your responses. Your customers will appreciate that you value their opinion. It is a key element to develop strong relationships with your audience . Customer feedback is invaluable to your business, so never stop listening to them!
Twilead is an all-in-one tool made to help you improve your customer satisfaction! CRM, creation of intelligent email sequences, sending of polls and surveys, find all these features on our tool.
