How Important Is Your Customer Feedback?

How important is your customer feedback? Do you listen to their voice inside your business? Different types of businesses get different types of feedback. In some cases it can be in your face feedback.  In the very worst case it is just the loss of business that shows the dissatisfaction your customers are feeling.  That is the worst and most destructive type of feedback.

Customer feedback is so important because it provides marketers and business owners with insight that they can use to improve their business, products and/or overall customer experience.

Responding to your customer's feedback is the only way to guarantee you market a product or service that they actually want to buy. Customer feedback is commonly used throughout the product development process to ensure that the end product is something that solves a customer’s problem or fulfils a need.

The most innovative companies in the world are the best at creating products that meet their customers’ needs and exceed their expectations. Think of Apple, Virgin and Dell.

In today’s competitive business world, these companies who can intertwine product development and customer feedback will be the ones that reap strong competitive advantages, have sticky customer loyalty and earn raving customer advocates.

Customer feedback is paramount when determining a customer's needs and wants, particularly when a business introduces new products or services. Companies conduct focus groups, in-person research or customer phone surveys to determine the product features, flavors or styles that consumers want. Customer feedback helps companies determine what's important to their customers.

Customer feedback also is important in detecting certain technological trends among consumers. For example, a new competitor in the market may introduce new and improved technology that potentially threatens the older technology a company sells. If customers indicate they would prefer and buy this technology, the company will need to consider switching to the new technology.

Ultimately, this will lead to better business, better sales, and a better customer experience.” With customer feedback, businesses can make appropriate changes to their offerings to ensure that the product meets the needs and expectations of their customers. Such changes are likely to increase customer satisfaction that, in turn, is sure to improve the profitability levels of any business.

Customers are the most important stakeholders of every business. That’s why it is important to hear their feedback. But collecting customer feedback is just the first step to ensuring a successful customer experience. It’s what you do with the feedback that truly matters.

SMART Service Desk IT Service Management Software is a great start to creating your very own customer service legends. We know that your satisfied customers will return again and again. Let us help you increase productivity, reduce operations cost and improve customer experience with our ITIL compliant solutions. No matter the size of your business we have your customer retention solutions.

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