Receiving customer feedback is like judging the pulse of the market. Customer feedback is of significant value as it signals the needs and requirements of the customers from the products. It provides a way for the customers to present their genuine opinions, judgments, feelings, like and dislikes about the product or service. Customer feedback lets customers feel valued and generates a feeling among them that the company concerns about their opinions about their experience of using the product. Customers feel that they are also actively involved in the improvement of the product. This significantly reduces customer turnover to the competitor products thus reducing revenue loss.
Customer feedback brings to forth just the right concerns or requirement felt by the customers that they encounter in their daily life while using the product. This requirement may be small but if company solves that it leads to significant growth in customer satisfaction. If customers receive what they want from the product they are willing to open their wallets.
With customer feedback, companies can significantly improve the quality of the product by adding innovative features, enhancing existing features and removing features that are contributing less to the overall quality of product.
Customer Feedback can help businesses create highly efficient products and build a robust brand loyalty in the market. This will help improve customer satisfaction and create a strong loyal customer base that will keep returning again and again.
Make Strategic decisions
Companies should not present any excuses in acknowledging the efforts taken by customers who provided positive feedback.
Tackling Challenges in Feedback process
Although feedback forms or online surveys are a great medium to get valuable feedback from customers, there are times when feedback sent by customers is not clear and does not portray valuable information.
Lack of Focus – Many times feedback lack focus on what they want to convey to the companies. They can be lengthy and time consuming and with hundreds of feedback to go through, it can cause significant time loss for the company.
Inconvenience– Customers at times may feel reluctant to send the feedback due to lengthy or complex feedback forms or due to time shortage. They may be busy in other work and may not find it useful to fill the feedback form.
Incomplete information – Many times customers send incomplete information in the feedback. It becomes difficult to act on such incomplete information.
Feedback forms or online surveys may not turn out to be resourceful medium for some organizations. Many firms are turning to benefit from the QA services that audit the interactions between agents and customers and extract valuable and insightful information from it. This will serve a dual advantage as QA services will monitor the quality of customer interaction for efficiency as well as it will continue to extract critical business intelligence data about the products or services.
At Etech, our stringent QA process ensures a customer experience that’s always improving. We also gather critical business intelligence data from each customer interaction.
Acting on the feedback given by the customers is extremely important as customer is still the king. Incorporating these changes in the organization will increase customer satisfaction, employee productivity, and profitability of the businesses. Businesses must keep in mind to regularly keep in touch with customers as they are active contributors in success of the businesses.