Customers always have an opinion, and great companies want to hear them. They will do their level best to satisfy their customer’s needs, which will eventually keep them loyal to your business. If you won’t make an effort to find out what your consumers think about your products or services, you will never be able to offer the best customer experience. Their experience with your brand will provide useful information that you can use to fit their needs more accurately. Gathering feedback with the help of customer feedback tools will help you to make business decisions and improvements that are in line with the expectations and needs of clients.

Understanding Customer Feedback

The process of collecting customer information whether they are satisfied or dissatisfied with a product or service and their overall experience with a company can be termed as “Customer Feedback.” The information can be collected by using surveys and reviews which your consumers post online. These sources are essential to get comprehensive information on how your customers perceive your brand.

Companies constantly listen to their consumers. They review opinions that are published on social media networking sites as well as customer feedback survey apps to gather feedback. Brands should never stop collecting customer feedback, be it positive or negative. It will assist you stay ahead from your competitors.

6 Main Advantages of Measuring Customer Feedback:

To become a successful business, it’s essential to ask, analyze, and work on customer feedback. Making use of customer feedback software will help your business unlock the door to your consumer’s needs and desires. Capturing constant customer feedback management ensures your business knows exactly how well your business is performing. 

There are numerous benefits of gathering “Customer feedback.” Let’s explore some of them:

It helps in improving products and services

Every business has some idea regarding the customer’s needs when they launch a new product or service in the market. Performing efficient market research will help you gain insights about your potential consumers who are willing to buy your products and services and share their views on how you can improve it. The experience of customers can be gathered only once they use your products and services. 

  • Always keep in mind that having the right expertise as per the industry is not sufficient; gaining valuable customer insights is more valuable. 
  • The customer feedback will help you ensure that the end product should meet your consumer’s expectations by fulfilling their needs.  

52% of consumers prefer that companies should take action on customer feedback – Microsoft

It helps you measure Customer Satisfaction

Customer Loyalty and Satisfaction are the two major factors that will determine any business’s growth and financial performance. Every business should ensure that their customers are satisfied with your products or services. The best method to find out whether they are satisfied or not is by listening to their opinions. 

  • One can easily estimate the customer satisfaction level and predict the company’s financial status with the help of rating-based questions.  
  • Numerous metrics that can measure customer satisfaction are the Net Promoter Score, Customer Satisfaction Score, and Customer Effort Score.

Improvements in customer service greatly impact loyalty

It shows that you value your Customer’s Views

Asking feedback from your customers shows that their opinion is important to you. If you take their feedback, they will feel more attached to the company and will become your brand advocates. The primary business objective is to resolve customer’s issues and satisfy their needs, not just earn money. 

  • The recommendation from the existing customers plays a vital role, which will help you acquire new consumers and become more trustworthy in the eyes of your potential customers.  
  • It will help you create stronger relations with your consumers, and they will further spread positive word-of-mouth for you.

75% of online consumers believe they expect support within 5 minutes, have trusted online reviews as much as personal recommendations and used comparison services for consumer goods – Mckinsey

It helps you create the best Customer Experience

Customer experience plays an important role in sustained growth in a business. To build brand loyalty and affinity among consumers, it’s really important to create a positive and memorable customer experience. 

  • It will not only make your clients happy but also promote your business by referring them to your friends and family.
  • Customers are the best resources for positively growing brand awareness – if they have encountered positive experience, they will surely going to recommend your products and services with friends and family, which is a reliable source for your marketing and advertising channel.

48% of consumers expect specialized treatment for being a good and loyal customer-Accenture

It helps to improve Customer Retention

Happy and satisfied consumers are the ones who are going to stick to your business in the long run. Unhappy customers will find an alternative and eventually leave your business. 

  • Customer Feedback will help you determine whether your consumers are satisfied and detect areas in which you should work and improve. 
  • Every time a customer is unhappy or dissatisfied, they should find a remedy to fix the issue. In several scenarios, addressing issues of an unhappy customer with a product or service demonstrates that you value them and ultimately will improve customer retention. 

A 10% increase in a company’s customer satisfaction score will result in a 12% increase in trust from consumers- Institute of Customer Service

It serves as a reliable source for other Customers

In today’s digital world, customers don’t trust any brands blindly. New customers tend to rely on existing consumer’s reviews, as they have used your products and services and consider it a more reliable source of information.  Positive reviews tend to spread more quickly than any other medium. Happy consumers are likely to share their thoughts on several mediums, increasing a business’s multi-channel footprint.

For example: when traveling to a new destination, people would first like to go through online reviews or blogs given by different travelers for different hotels. 

  • Online reviews are the major source of social proof, and they have a direct impact on sales
  • Powerful reviews are an influential tool in building a company’s online identity

47% of customers with a product or service complaint will voice it on social media. Having a presence on social media platforms will increase your chances for receiving feedback – Sprout Social

Customer feedback is an indispensable resource for businesses that should not be taken lightly. Consumers are the primary resource that will help businesses in improving the products and services. Being heard empowers both businesses and customers together. The most common way to gather feedback is with the help of surveys. 

Megha Sharma is an experienced Content Writer and Strategist, been in the IT Industry from last 3+ Years. Associated with the Zonka Feedback. Passionate about writing customer experience,customer satisfaction, customer feedback, and net promoter score. Zonka Feedback understands the power of customer feedback and encourages businesses that they should listen to what their consumers have to say. Zonka’s customer feedback surveys are one of the quickest and cheapest ways to learn about your customers’ preferences. LinkedIn, Facebook, Twitter.

Customer feedback stock photo by oatawa/Shutterstock