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Blog Post

How customer feedback can be one important way for businesses to thrive

How customer feedback can be one important way for businesses to thrive

Customer feedback can not only mean increased revenue for your business, but also helps maintain your brand and your reputation.

Your customers are your biggest assets.

I believe customer feedback is the coiled spring that catapults your company forward. It will continually adjust your trajectory while keeping you on target.

Reid Hoffman – founder of LinkedIn

After the year of 2020, now is a critical time in history to preserve and strengthen your relationship with customers.

With this in mind, client feedback can greatly help your business to identify:

  • areas for improvement for short and long term goals
  • important areas being done well for continued focus.

To demonstrate, here are the six most important benefits of obtaining customer feedback.

1  Continued Improvement

The aim of a business is to stay in business for the long-haul. Therefore to exist for the long term, a business needs to be willing to:

  • have a continuous improvement approach, and
  • understand the pain points affecting customers.
2  Customer Feedback Motivating Team Members

Conducting customer service feedback activity can help you in managing your teams. For example:

  • motivating your team members
  • aiming to exceed targets
  • cultivating a healthy work culture
  • recognising your team’s efforts
  • focus on any areas for improvement
  • highlighting areas that are working well for individual and team feedback.
Customer feedback
3  Customer Service Experience

Online surveys or asking customers for feedback on service offerings are two approaches. It is equally important to understand the client or customer experience.

This type of feedback will enable adjustments in areas such as:

  • increasing loyalty,
  • producing new referrals, and
  • providing the best service – every time.

It’s also a chance to show you value your clients’ and customers’ input.

4  Customer Feedback as Part of Ongoing Marketing Activities

Customer feedback should be part of usual marketing activities for a business. If not, the company has failed in the fundamental number one rule in marketing – communicate with the client.

Say a business spends thousands on ads and wonders why their sales figures are in a slump.

Every company should invest in a customer feedback system such as:

  • engaging surveys,
  • phone calls, or
  • an experienced third-party conducting research on its behalf.

Just one single change in customer experience can mean a significant increase in revenue.

5  Providing Customers with a Platform to Voice Their Opinions

If you do not give customers enough opportunities to say what they feel, how will you improve your client or customer service?

By providing a number of opportunities, you will be able to gather positive customer feedback as well as take care of the negative feedback.

6  Retention of Unhappy Customers

At some point, you are likely to receive negative feedback in research. Or, you may not be aware of the negative aspects because your clients have not informed you – or complained – directly.

Some businesses do nothing about negative feedback. Instead, if you know the problem, you can turn it into an opportunity to drive more business and retain an unhappy customer.

Furthermore, taking these measures can help avoid the spread of similar opinions affecting the decisions of potential customers.

 

Pause for a moment and reflect:

The pandemic brought about massive changes, which has impacted consumers and businesses globally.

As the world slowly shifts to a recovery mode, it is more important than ever to understand the consumer’s changing needs and satisfy them.

It is critical to understand their purchasing behaviour.

This year may be the right time to engage a third-party’s services to explore your customer’s experience.

So, what are some benefits of using a third-party to obtain feedback on behalf of your organisation?

1  Customer Deals with a Third-Party

Speaking to an independent third-party enables a more tailored, neutral conversation for a research participant.

Also, a client or customer can feel a little less apprehensive than completing a survey online or speaking to a representative, or indeed the owner, from the company itself.

Participants may be more likely to open up in sharing their thoughts on how they truly feel the service was delivered.

As a result, this provides deeper or more accurate insights for increased benefit to the client’s business.

2  Unbiased

In addition, a third-party conducts research without any bias. It is possible for bias to seep through if a business conducts its own customer service feedback activities.

In that case, there is a higher chance of getting to the root cause of any negative feedback or issue a customer has faced.

3  Time-saving

Your business can focus on other priorities while the experts create the appropriate approach based on their industry experience.

They handle conducting the research and provide any insights on customer feedback received in a timely manner.

Our approach to customer feedback research

On Point Support conducts research taking steps to listen to your customers, for more informed decisions in your business towards increasing ROI, customer retention and improve the overall customer experience.

We’d be happy to discuss how we can help you obtain customer feedback to benefit your business.