Did you know that 86% of buyers will pay more for a better customer experience?
Customer experience will overtake price and product! Customer experience is your customers’ perception of how your company treats them. These perceptions affect their behaviors, and builds memories and feelings to drive their loyalty. This means, if they like you and continue to like you, they are going to do business with you for a long time and recommend you to others.
If you run your own business, you do your best to please your customers, satisfy their needs, and eventually to keep them loyal to your brand. If you do not try to find out what your customers actually think about your service, you will never be able to give them the best customer experience. Their opinions about experience they have with your brand is helpful information that you can use to adjust your business to fit their needs more accurately.
What is customer feedback?
Customer feedback is information provided by clients about whether they are satisfied or dissatisfied with a product or service and about general experience they had with a company.
This information can be collected with different kinds of surveys, but you can also find opinions and reviews your clients post online. Top performing companies understand the importance of customer feedback in business. The don’t only search for opinions that their customers publish on social media and reviews they provide on websites designed for gathering feedback, but they also deliberately ask for feedback using surveys.
The top 5 reasons why customer feedback is important in business:
- Customer feedback helps improve products and services – Customer feedback is an insight into what is working well about your product or service and what should be done to make experience better.
- Customer feedback helps you measure customer satisfaction – Customer satisfaction and loyalty is a crucial factor that determines business’ financial performance. It is directly linked to many benefits, such as increased market share, lower costs, or higher revenue.
- Collecting customer feedback show you value their opinions – By asking your clients for feedback you communicate that their opinion is important to you. You involve them in shaping your business so they feel more attached to your business.
- Customer feedback helps to improve customer retention – Satisfied customer will stay with you. Unhappy customer will eventually find a better alternative to your business and leave.
- Customer feedback gives you data that helps taking business decisions – Successful business owners gather and manage data that helps them develop future strategies. Only in this way they are able to adjust their products and services to perfectly fit customer needs.
If you want to stay on top of things you should put your customers in a center of your business and treat their feedback as the most valuable source for information in your company. They are the ones who use your products and services, so they know best what could be improved to make them even more happy.
Remember that customer feedback is everywhere. You should learn how to collect it using various tools and resources. Run surveys in different forms and search for reviews your customers post on the internet.
Your customer’s voice is so important for your business, so never stop listening!
If you need systems help in your business, please message us at Compliance Lab. We would love to hear more about what you do, and how we can help you transform your business. We can establish proven systems in your business to create team certainty and continual expansion. Please click on the link for our contact details https://compliancelab.com.au/contact/