Customer feedback is information that you receive from your customers about your business, including its products and services. Or, you could receive information about the buying experience or customer experience, including customer service, ordering system, technical support, etc. Customer feedback is received in various ways. Here is why customer feedback is so important for the improvement of your digital products.
1. You Always Have Feedback to Rely On
Most business owners know that feedback starts with a customer survey, employee survey, performance appraisal, or training evaluation. Feedback is everywhere you turn — and you can rely on it at any given time. Whenever you speak to a customer, employee, person, or vendor, you’ll receive feedback in real-time. It’s kind of hard to escape it. Some companies even use software for customer satisfaction surveys. This way not only is all of the data captured, but the data can also provide great insights for product experience and marketing efforts.
2. Feedback Encourages Active Listening
Feedback involves active listening. Whether it’s conducted through a survey or verbally, the sender needs to know that their feedback is valued and understood. When you send your customers a survey, explain why their feedback is so important and how you intend on using it.
3. Increases Customer Satisfaction
You can’t run a successful business without customer feedback. Not monitoring customer satisfaction is like operating a vehicle without directions. While your business provides your customers with the right products and services, you also need to improve the buying experience. It’s the difference between a business that’s stagnant and one that’s growing.
Analyzing that feedback can help improve customer satisfaction. Even using an online platform such as an NPS can help you receive metrics about the buying experience. It’ll show you if your business is headed in the right direction. With this in mind, you can improve your business and make sure your customers are happy.
4. Increases Sales & Retention
Customer feedback can affect customer advocacy, customer churn, and conversion of passive customers. It can have a negative effect on your company’s bottom line if you’re not careful. Ninety-six percent of customers tend to not complain. But that doesn’t mean they’re satisfied with your products and services.
Staying aware of common issues and correcting them can help you turn unsuccessful customers into successful ones. Let your customers know that you value their feedback and you listen to each of their concerns. This can help you improve the customer experience. The customer experience is built by people who are brand ambassadors of your business.
Word-of-mouth advertising and online reviews can help your business flourish. Eighty-eight percent of customers trust online reviews as much as personal recommendations. This increase in brand advocates can lead to positive business growth. Giving your customers what they want can also help decrease churn.
5. Improves Your Products & Services
Feedback lets you know what’s working and what isn’t working. You’ll find out which products are popular and which ones need to be improved. Customer expectations change with ongoing trends and preferences. It’s important to stay up to date on these changes. Just because a product or service was popular 10 years ago doesn’t mean it’s popular now.
Feedback can also address issues surrounding your products. This can improve quality control measures. For example, food chains and restaurants rely on customer feedback to ensure their services are meeting standards. This can also allow you to see if one or more of your employees need additional training.
