A key component in the success of any company is the ability to receive quality feedback. When businesses receive quality feedback from their customers, it allows the company to see how their customers feel, think, and what they expect from the business. When customers see that their opinions are taken into consideration by the business, they will be more open to giving honest feedback. This means that customers who receive honest feedback will provide companies with information that can assist the business in making improvements, adapting to change and remaining competitive.
Changes in the needs and preferences of customers and changes in the expectations of customers are continually happening. By taking the time to listen to the feedback of their customers, companies that listen actively can react quicker to any change in their customers’ needs and remain relevant to their customers. Companies that do not listen to the feedback of their customers, however, will likely lose to their competitors and will not be able to continue operating. Companies that receive honest feedback from their customers, even when the feedback is negative, have one of the most powerful forces to achieve long-term success.
Why Customer Feedback Matters
The feedback provided by customers offers an accurate view of how your company operates through the eyes of its clients. In the absence of feedback, it would be easy to assume that everything operates successfully when, in fact, it may not be the case. Customer feedback allows you to see areas where the products or services you are selling fall short of customer demand.
When a company keeps spending its time and money on products/services that no longer benefit the consumer, the company’s sales will begin to fall. Feedback acts as an “early warning signal”. It can indicate to the company what products/services are effective and what products/services need to be addressed before they develop into larger problems.
Along with providing insights into products, customer feedback provides insights into all aspects of doing business, from customer service to price points to your delivery methods to how you communicate with customers and even through your after-sales support. There are instances when a product is outstanding, yet, because of poor support or because of complicated pricing structures, customers are turned away. With honest feedback, you will have the opportunity to identify these hidden issues.
Feedback can be both positive and negative. Positive feedback will show businesses where they are doing great, boost team morale, and allow them to direct more of their energy on their successes while building on them with confidence.
Creating the Right Mindset for Feedback
For a company to receive constructive criticism, it must first be receptive to being given constructive criticism. Constructive feedback can be uncomfortable, but all feedback should be treated as an opportunity for growth and improvement.
When consumers perceive that their opinions matter and that they will be treated with the utmost respect, they are more likely to take the time and effort needed to give their opinion on a product or service. When consumers feel that their voices and opinions are not valued, they may choose not to respond at all.
Expressing gratitude for customer feedback creates an atmosphere of trust and establishes a foundation of continued customer loyalty.
Encouraging Customers to Share Feedback
To successfully get feedback from your customers, you’ll need to have good systems in place to effectively do so, along with following up with your customer base. One of the best ways to do this is to give some kind of reward or incentive to customers that offer you feedback about how they feel about your product or service.
Typically, this would be offered by way of discounts off their next purchase or gift cards to entice your customers to submit an online survey or rate your business/review your product.
This same strategy can also be used with online businesses as well. When customers are requested to leave a review about your business (especially on Google and other similar sites), it builds the confidence of potential new customers and also raises your business’ visibility in search engine results. Customer incentives are a great motivator for getting customers to successfully respond to your feedback request and share their experiences with others.
Using Confirmation Emails Effectively
Automated emails, or confirmation emails, are one of the easiest & most effective ways for businesses to collect feedback from customers through automated follow-up emails the same day as their purchase or service. Automated emails can be sent out wishing customers a happy shopping experience, thanking them for their feedback, thanking them for shopping with our company, etc.
The timing of when the emails go out is critical. If you send the emails shortly after receiving a purchase/service from your customer (within the same day), it will give them ample time to respond to your email. By providing them with a subject line that clearly describes what the email is about and a message that is friendly, it will help generate increased open rates for responses to your email.
The sheer volume of information people receive on a daily basis can cause them to forget about their experiences very quickly, especially if the experience was not unique or memorable in other ways. Sending a follow-up email shortly after the transaction will help your company stay in the minds of your customers and improve response rates overall.
Understanding Customer Memory and Experience
A person’s ability to recall something diminishes over time. The average person will only be able to recall a portion of what they see and/or hear on any given day. When emotions or surprises are attached to an event, a person will have more of a chance to remember that experience longer than another average event. For this very reason, businesses work hard to produce memorable moments for their customers. The more times the customer can remember their experience, the better chance they will give feedback and continue to use the business. The smallest act of kindness can be a large motivator; therefore, the moments in which a customer has received a great experience will surely stay in their mind for future reference and help build a loyal customer base as well as encourage honest reviews.
Collecting Feedback Through Social Media
You can gain valuable feedback from social media. When you share on platforms such as social media some demos, announcements, and/or stories of customers and ask for their thoughts, this encourages users to connect. Many will provide feedback to you on your product, even if they were not a customer at the time of the feedback given.
Offering incentives to your customers for their feedback on quick reviews will also help gain traction for your products on social media. A positive review will help promote awareness of your brand, generate trust, and potentially lead to a sale of your product. Building upon customer reviews over time will continue to allow customers to do the advertising work for your company, lessening the need for you to put forth as much marketing.
Turning Feedback Into Real Improvements
Feedback is important, but what really counts is how feedback is used. Positive feedback can serve as your marketing weapon to create trust, while constructive feedback can help develop products, improve services and enhance business processes.
Let customers know when you act on their feedback—this is a sign that you value their opinion and pay close attention to them. And while they’re checking out any changes you’ve made based on their suggestions, ask them to provide additional feedback. This creates a cycle of receiving/using feedback that provides value for both your organisation and its customers.
Eventually, strong relationships and loyalty result when businesses employ this method; therefore, customers feel as though they are part of your journey and are much more likely to contribute to the ongoing growth of your business.
Final Thoughts
Gathering feedback from customers is one of the most important things you can do to grow your company. By obtaining customer feedback, you are able to view your company through the customer’s perspective and make better decisions regarding your company’s future. The most common ways companies can collect honest customer feedback are via email, social media, surveys, and reviews; using all of these channels provides businesses with multiple opportunities to gather truthful customer feedback. Although gathering customer feedback can require additional effort, it pays off with a long-lasting impact on your company. By obtaining truthful feedback from customers, you can continue to enhance your company’s product/service offerings, including quality, pricing, systems, and customer experience; all are keys to growing your business and increasing your market share!
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