How Collecting Customer Feedback Can Improve Your Bottom Line

How Collecting Customer Feedback Can Improve Your Bottom Line

Running a business or serving in a leadership role has tons of moving parts, and whether we want to admit it or not, customer satisfaction is at the core of it all.

Great leaders work tirelessly to make sure they’re meeting the needs and wants or their customer-base, but without feedback, how can you really know?

Understanding how your brand (and all of its individual components) is being perceived in the market is crucial, both for sustaining your customer base and also growing your business.

Well-solicited and documented customer feedback helps you:


1. Better understand what your customers want and expect from your brand

Innovation can only be achieved by listening to what your customers want and ultimately expect from your brand; and without innovation, brands become stagnant and get left behind. Knowing what your customers are looking for is invaluable because it gives you the upper-hand to be able to make the changes that they want to see. Positive customer experiences drive repeat purchasers, create customer loyalty, and increase profits.


2. Quickly identify areas of improvement in your business operations

Often when customers are dissatisfied they don’t share their frustrations (especially if they’re not asked to); they instead simply stop using your services. By asking customers to provide both qualitative (descriptions) and quantitative (numbers) feedback, you’ll quickly be able to uncover what’s not working for your customers, which allows you to course-correct and be more likely to retain your customer-base.


3. Adjust or develop new products and services to better meet your customers’ needs

Before launching a new product or service, you likely conducted market research to help plan for a successful launch. With that product or service up and running, it’s important that you do spot-checks to see if the product is actually being received the way you’d hope. Feedback of this type will help you uncover any flaws in the actual customer experience, so that you can make adjustments. Product adjustments and refinements help you continue to stay ahead of your competition and ensure your brand reputation stay intact.


4. Show your customers that you value their opinions

Value is the key word here. Customers get surveys all the time, but they don’t always feel like the company seeking feedback really values their input. Collecting customer feedback can be quite clunky and overwhelming to dive into, but by asking for input, you are telling your client base that you actually care what they think and have to say. It shows that you are customer-centric, which, when done right can mean massive brand gains. Think Amazon, Zappos, Chic-Fil A, and Southwest Airlines to name a few. These companies relentlessly seek product feedback and continually improve processes as a result.

Often what the business leaders think the customers Continuously monitoring how your business is being perceived allows you to evaluate ways in which the design and/or delivery of your products/services can improve to align your customers’ expectations.

Becoming a more customer-centric organization doesn’t have to be overwhelming.

Think of it as a learning experience where both parties benefit. Your customer is able to be heard, and your business gets invaluable insights that help you better chart the course and direction of your brand. Continuous customer feedback helps you deepen your relationship with your users, which honestly speaking, is invaluable.

If you’re looking to gather the right types of data from your customers, we’re happy to help guide you through the feedback collection process to help ensure that the data you receive provides actionable intel that you can use to help you improve relationships and reduce churn.

Contact us today, and let’s start talking about the most effective ways to gather actionable data.