Here at MyFeelBack, we sincerely believe in the power of customer feedback.
The amount of success stories we have experienced first hand of companies that take their business to the next level using surveys has proven us that no insight quite compares to useful customer insight.
Why Customer Feedback is important to your business
This shouldn't come as a surprise when you consider the numbers.
Here some Customer Feedback statistics you should know:
- The average business hears only from 4% of its dissatisfied customers, while all actually unhappy customers spread the word of their bad experience far and wide. (source: helpscout)
- On the flip side, 55% of consumers say easy access to support and information can make them fall in love with a brand. (source: Ira Kaufman, Chris Horton "Digital Marketing: Integrating Strategy and Tactics with Values")
- Not only that, but your current customers are your biggest potential buyers and the best thing for your ROI, and they cost less than acquiring a new one. (source: fortunly)
- It's important to understand individual customer characteristics: in 2020, 62% of companies are ready to invest to meet the changing needs of customers. (source: walkerinfo)
Knowing these statistics, it's surprising that there are still companies that don't invest more energy in customer feedback in order to improve their current customers' experiences.
How to use Customer Knowledge
Understanding better your customers may be surprisingly easy and inexpensive thing to do. There are Smart Survey options that enable you to create custom questions for your customers and specifically target them to get useful information on why they use your product, what they would like more of, how they feel about your company culture, and what you can do better.
This information is invaluable when creating marketing campaigns, considering new product ideas, and trying to connect with your customers in more sincere and authentic ways.
A lot of times, marketers try to guess what their customers want without doing the research.
Not only does this not help accomplish your marketing goals, it can actually be detrimental to them.
If you are marketing to the incorrect audience, you can waste valuable resources on confusing and counterproductive content.
Your actual customers will think that your product doesn’t apply to them. Your incorrectly targeted market will give your product a chance, and then be disappointed.
It’s better for everyone to market to the right people, the right way, the right time.
Building a Customer Knowledge base
Not only customers are more open to giving feedback than you may think, but oftentimes, they demand it.
Customers like feeling like there is a platform for them to speak their mind.
Successful companies know this, and go out of their way to make feedback constantly available for their clients.
For example, Starbucks has a customer feedback link available right on their website where customers can leave messages regarding an experience they had at any store.
Note that in this survey, the personal information of the customer is taken down.
This is because this information should always be entered into a database so that it can be referenced and so that these customers can receive follow-up regarding their feedback.
Remember, it makes customers happy to be able to give feedback, but only if they feel that the feedback is being listened to and needs change.
We are all familiar with Amazon’s product reviews, but these reviews are actually reviewing the products sold on Amazon, not about their interaction with Amazon itself.
Amazon offers a survey regarding customer satisfaction on their webpage that is easily accessible, user friendly, and efficient.
It gives customers enough space to voice their concerns and provide positive or negative feedback.
These big companies know that giving your customers a platform and making their voice heard is the key to providing a great customer experience.
From Customer Knowledge to Customer Experience
If you go about it the right way, you can simultaneously gain essential customer knowledge and find brand ambassadors amongst your current customers.
It’s hard enough to get customers to express concern when the lines of communication are open.
Imagine how many customers you will lose if you don’t reach out and ask for feedback actively and constantly.
Remember: Customer experience is all about making the customer feel important, prioritized, and valued.
When you receive the responses to a survey, the most important next step is properly organizing the responses you receive and correctly analyze them to create a great customer experience.
Getting data is great, but what you do with that data really decides if it will take your company to the next level. Data is useless as long as it sits in the computer.
Survey systems like MyFeelBack help you make sense of your data by providing state of the art analytical tools with easy to understand visual aids and action steps for when negative feedback comes up.
Surveys are useful in improving your customer's experience because it allows customers to express in their own words what they want out of your business.
Considering that, and considering how important it is to listen to your customers to avoid churn, surveys should be a priority for anyone who wants to take care of their loyal customers and win new ones.