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How to Utilize Customer Feedback to Grow Your Business

How to Utilize Customer Feedback to Grow Your Business

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Feedback allows you to measure the success of your business over time.

By tracking customer satisfaction and identifying areas for improvement, you can see how your business is progressing and make necessary changes.

You should pick a tool for gathering customer opinions through online surveys. With our platform, you can hear your customers’ voices and modify your business accordingly.

In this blog post, you will learn ways of collecting customer feedback, the advantages of doing so, and the best practices for doing so.

In this blog we will discuss what customer feedback is, the various types of client feedback, their importance and how to collect them.

Importance of Customer Feedback

What is customer feedback?

Customer feedback is information consumers provide about their experience with a product or service. It includes their opinions, suggestions, and complaints.

Some of the common examples of how to collect customer feedback include:

  • Customer feedback surveys
  • Social media
  • Emails and customer contact forms
  • Customer interviews
  • Online reviews
  • Community forum
  • In-app ratings and more

It is a valuable tool that helps businesses understand their customers’ needs and preferences and expectations.

Types of customer feedback

The first step is to determine why you are seeking customer feedback. Are you looking to improve your product or service? Do you want to know how your business is perceived in the market?

Clarifying your motivation will help you focus the feedback collection process and ensure you are asking the right questions.

Consider employing these great ways to gather customer feedback.

Customer feedback surveys

Customer feedback surveys are an effective way to collect feedback from clients and can be conducted online, by telephone, or in person.

Surveys can be designed to elicit responses to specific areas of the customer experience, such as customer service, product quality, or pricing, and can be used to identify strengths and weaknesses in them.

Social media

Social media can also be a treasure of a tool for collecting customer feedback.

You can create polls or post open-ended questions and encourage your clients to engage with your content.

Emails and customer contact forms

Collecting customer feedback through emails and customer contact forms after interactions with your company allows you to gain valuable insights into what customers think and any issues they encountered.

Customer interviews

One of the most effective ways to understand the needs, preferences, and experiences of your users is through interviews.

This method allows for an in-depth understanding of the user’s perspective, providing valuable insights that can be used to improve your product or service.

By preparing well, conducting the interview effectively, and analyzing the responses carefully, you can make the most of this valuable feedback method.

Remember, the goal of interviews is to understand the user’s perspective. Be respectful and empathetic, and always prioritize their comfort and privacy.

Online reviews

Online reviews are a valuable tool for businesses to gather feedback about their products or services.

These reviews provide direct insight into what customers think, helping businesses understand their strengths and weaknesses.

By encouraging reviews, monitoring and analyzing them, responding to them, and implementing changes based on the feedback, businesses can enhance customer satisfaction and ultimately, their success.

Online reviews can also significantly influence a potential customer’s decision to choose your brand over a competitor.

A majority of respondents in a Bizrate Insights survey said they often consult reviews prior to making a purchase, with 25% always doing so and 40.8% often doing so.

Encouraging pleased customers to write reviews can boost your revenue.

Community forum

Community forums are a great way to gather feedback because they allow for open and honest communication.

They provide a platform where users can freely express their thoughts and opinions, share their experiences, ask questions, and offer suggestions.

The goal of gathering feedback through community forums is to improve your products or services and the customer experience.

It’s important to take the feedback you gather seriously and act on it.

In-app ratings

In-app ratings is a feature that allows users to rate an application while they are using it.

This feature is typically implemented as a pop-up that prompts the user to rate the application on a scale, usually from one to five stars.

It allows users to express their satisfaction or dissatisfaction with the application, and they give developers quick insight into whether the overall app is working well.

By implementing in-app ratings effectively and responding to the feedback, you can create a better user experience and a more successful application.

Why is customer feedback important?

Customer feedback is essential to the success of businesses for the following reasons.

Importance of customer feedback

1. Helps measure customer satisfaction

Satisfied customers are likelier to continue doing business with a company and recommend it to others.

After a customer interaction with your company, by making a purchase or requesting help from your customer support team, you should ask them how satisfied they were with that interaction (and purchase, if applicable).

Negative responses can prompt requests for details, giving your company a chance to correct what went wrong, and thus their satisfaction with your company.

Keeping a finger on trends in your customers’ satisfaction levels will alert you to issues quickly.

2. Provides insight to identify areas that need improvements

Customer feedback can help you identify areas of your business that could use improvement.

Whether it is a product that isn’t meeting customer expectations, a website that is difficult to navigate, or a customer service response inadequate to the level of support customers need, feedback can help you pinpoint areas to examine for issues or inefficiencies.

3. Helps you understand clients better

Client feedback is essential for businesses because it assists them in getting a clear understanding of their client’s preferences.

By collecting customer satisfaction surveys, companies can find out what they are doing well and where they are falling short according to client expectations of products and services like your company’s.

The best way to find out what your customers want is to ask them. This information can be used to develop better products and services that meet these expectations.

4. Helps companies make better business-related decisions

By understanding what customers like and dislike about their products or services, companies can make better decisions about what changes to make.

Companies can gain an advantage over their competitors by understanding what features attract customers.

They can update their products and services to incorporate those features faster than their competitors. And they can tailor their marketing to emphasize those features.

Companies making better business related decisions
Making great decisions

5. Helps to understand the entire customer journey

Understanding the entire customer journey helps identify pain points and areas where customers may be dissatisfied.

This information can be used to correct those issues and prevent similar ones in the future.

Your client surveys should aim to extract this information.

Different kinds of interactions might have different kinds of problems, so it’s important to offer customers a chance to point out problems at every step of their journey with your company.

Understanding their journey helps you improve it.

6. Provides insight into market trends

By keeping track of consumer reviews, businesses can identify changes in customer behavior and adapt their products, services, and marketing accordingly.

This helps the company to stay ahead of the competition and maintain its position in the market.

For example, if there’s an upward trend in comments on environmental concerns among a company’s customer base, the marketing team can make the company’s environmental choices more prominent on its website and consider cost-effective ways of making more such choices.

7. Helps with new client acquisition

Positive customer insights can be a powerful marketing tool for new client acquisition.

When consumers share their positive experiences with others, they can attract new customers.

Additionally, businesses that actively seek out and respond to customer reviews demonstrate a commitment to customer satisfaction, which can help build trust and loyalty among existing and potential customers.

Therefore, by soliciting consumer feedback in the form of reviews, businesses can increase customer satisfaction and retention, and attract new clients, leading to business growth and success.

Best practices for collecting customer feedback

As you have seen, asking customers for feedback can result in great benefits for your company. However, some ways of going about it are better than others.

Setting Goals

Before you begin

It is important to decide why you’re gathering feedback and the best methods of doing so. Consider the following tips:

Set clear goals for collecting the feedback

There should be a purpose for every question you ask. Do you want a good review, need to know more about issues customers face or their interests or just want clients to feel like they have a voice? Answers to these questions will determine what kinds of questions you ask.

Identify your target audience

Who are you targeting? For example, if you are collecting feedback from a large and diverse group of users, then a survey with multiple-choice questions may be more effective. However, if you desire more in-depth feedback from a smaller group, then a focus group or one-on-one interviews may be more appropriate.

Consider the timing of your feedback collection

Are you looking for real-time feedback, or is it okay to collect feedback over a more extended period? Depending on your goal, you may choose methods for ongoing feedback collection, such as social media monitoring, or methods that provide immediate feedback, such as website surveys.

Select the most suitable methods for your business

Chose the technique for feedback collection that best fits your goals and timing requirements. Emails or client satisfaction surveys are appropriate for real-time interaction.

Also, keep in mind that customers are busy and need to be able to complete their feedback in a short amount of time.

Choose the right tools

Consider what kind of software will help you meet your goals through the methods you’ve chosen. The right software can make feedback collection and evaluation much easier.

Integrate and assess feedback

Once you have decided on your customer service goals and methods, you need to integrate feedback collection and evaluation into your company routine and culture.

Depending on what you’ve decided, you can set up feedback collection on your website and in your sales and support software.

When a customer makes a purchase, they will be sent a survey or review request after a set amount of time.

If they use your support system, they will be asked about their satisfaction upon the closing of their ticket or chat session.

Of course, collecting client satisfaction surveys does your company no good unless you evaluate it.

This is another place software comes in handy, especially with close-ended responses. Gain insight into customer satisfaction, issues, and preferences, by laying out your data in appealing charts and other widgets.

Turn conclusions into decisions

Understanding what your consumers desire and require leaves company leaders with decisions on how to meet those expectations.

For example, if you receive feedback that your website is challenging to navigate, you could redesign it to make it more user-friendly.

Then, you can track how people access the new website design to see if it has improved the user experience.

Utilize customer feedback to achieve business success

Customer happiness and business success go hand in hand. Gathering consumer feedback keeps your finger on both the market and the performance of your company itself. Ask them what they want, offer it, and they will come.

One way to collect feedback easily after client interactions with your support team are through software like BoldDesk. With BoldDesk, feedback surveys can be created in the app and sent automatically when a support ticket is closed. Try a live demo to see how BoldDesk can help improve your business. You can start a 15-day free trial on BoldDesk. For more details and queries, contact BoldDesk support.

If you found our article helpful or have any suggestions and ideas to improve it, please leave a comment in the section below.

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