Whether you’re a long established company with a loyal customer base or a new business just getting started, every organisation needs to listen to their customers. Feedback can be collected in a variety of ways: from regular customer surveys to collecting reviews on Google and specialist feedback gathering websites like TripAdvisor, through to analysing consumers’ opinions posted on social media. And if this sounds like it could be a time-consuming process, one that you just never seem to get around to, then it’s time to think again. Here we present three reasons why listening to customer feedback will improve your business making it well worth the investment.
1. Customer feedback will improve your products and services.
You may think you know what your customers want and need, but unless you ask them you cannot be certain. It’s your customers that use your products and services on a daily basis and so listening to clients will give you invaluable feedback into how your product or service is performing and what could be improved to make it even better. What’s more, the needs and expectations of consumers inevitably change over time so what might have been a perfect match yesterday may not be so today. Regularly checking in with clients will help you to stay on top of changing market trends.
2. Customer feedback will increase customer retention.
Asking customers for their views and opinions is a great way to demonstrate how much you value their business. As a result your relationship with those customers will be all the stronger. They will feel as though your primary goal is to solve their problems and fulfil their goals rather than simply taking their money. In addition, research tells us customers that feel as though they’ve had an input into shaping a company’s products and services are more likely to remain faithful to that brand.
As well as increased customer retention, this improved sense of loyalty will also see consumers develop as brand ambassadors for your business, spreading positive word-of-mouth referrals and all-round good PR.
3. Customer feedback is a rich source of data and improves business decisions.
In today’s highly competitive market, important decisions about your business – whether it’s deciding to expand into a new market, upgrade an existing product, or invest in a new service – need to have a sound evidence base. Rather than relying on guesswork or a hunch, customer insights will help you to develop future business strategies and adjust your products and services so that they are a perfect fit for your target market. The customer should be at the heart of everything you do because if you ignore the consumer voice, then the danger is they will simply find a competitor that does listen.
Customer Feedback: The Bottom Line
Make sure you take every opportunity to engage with your customers: run regular surveys, analyse online reviews and collect social media opinions. You’ll soon discover that it’s not as big a task as you perhaps anticipated and the potential rewards on offer mean that you simply cannot afford to ignore customer feedback.
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