Ever wonder why big tech companies drop their BETA products on the market before it's fully ready? Drumroll please, the answer is...
Feedback!
Dropping the BETA version on the market turns users into a worldwide R&D team generating feedback on the user-experience that allows them to refine their product and re-release it. So why do we business owners run from the very feedback that allows us to refine our strategies?
The truth is that customer feedback is arguably the most beneficial thing you can do for your business to drive and increase revenue. This is because it:
Identifies your consumer's needs.
Reveals what is working versus not working in your business.
Allows you to refine the quality of your products and services.
Solves previously unknown issues.
Creates enhanced connections with your customer.
Enhances long term trust that translates to repeat business.
One reason business owners may not collect feedback is the day-to-day busyness of keeping the doors open leaving this area overlooked in the bigger picture. Yet, customers ARE the impetus of your business, and neglecting to recognize and embrace their value can end up undermining your bottom line. However, if serviced well, your customers will become repeat customers and hopefully, brand evangelists.
That said, customer feedback is more than saying thank you while looking for the next sale. It is a vital tool that, if used wisely, can become a driving force of growth and improvement for your company. Customers want to know that you hear their voice, and not necessarily around complaints alone, but they want to interact with your brand with experiential input. And, actively seeking feedback shows customers that you value their input.
Here are some ideas that can not only help you get customers, but also help you to learn, evolve, and grow as a business.
Feedback Identifies Needs
Feedback identifies needs and concerns, and it begins with paying attention to what your customer is saying. Understanding customer preferences allows you to tailor your products or services to better meet their needs. For example, if feedback illustrates a demand for a specific feature, you can prioritize its development, which will lead to increased satisfaction and competitiveness.
Additionally, analyzing trends and patterns in feedback helps you make informed decisions about marketing, product development, and enhanced customer service. This includes data analytics that allows you to see how visitors interact with your brand online and their length of time on your pages.
2. Respond to All Your Complaints
I once worked for a hotel CEO that personally called back disgruntled customers from his own cell phone weekly. He could have handed these guests over to a general manager or other staff member. Instead, he took the time to hear their complaints and resolve their issues. When asked why he went to such lengths, his response was, “Word of mouth is still king. If I can turn around one customer, that person will not only come back to my hotel, but also become the biggest brand ambassador because I cared enough to take care of their needs.”
3. Prioritize Online Reviews: According to Hubspot 98% of consumers read online reviews before purchasing. So, do not shy away from online comments. In fact, embrace them as a part of your input, and be sure to respond to them all - especially the complaints. In fact, turn around one disgruntled complainer on a poor review and you will almost always have a customer for life. Firstly, caring responses create brand loyalty, and are strong customer service indicators for your brand. Secondly, potential consumers that are sitting on the fence will read your responses and recognize that you value them, which can translate into a new sale.
Personally, I am twice as likely to continue business with a company that took the time to resolve my customer service issues versus one that ignored me. By addressing both positive and negative reviews, you mitigate your risks by preventing potential problems from escalating, thus minimizing the proverbial customer churn.
4. Survey Your Customers
Make it easy for your customers to offer feedback by regularly surveying them. Consumers love nothing better giving their opinions, and this can become one of the most valuable drivers for brand enhancement. Don’t shy away from tough questions but rather, see them as growth opportunities. You can use your email list or social media to gather public opinions. Ask pointed questions directly related to your quality and service, then use the data to enhance our offerings.
5. Engage with Your Customer
One of the primary ways for enhanced customer engagement is social media. Not to overstate the obvious, but social media’s ultimate existence is not just a place to showcase your brand, but for being social. So be social with your followers. Commit to posting valuable content 1-3 times per week and then engage with your follower’s comments, questions and DMs. More than any other platform, engaging with followers on social media creates the know, like and trust factor allowing consumers to get to know who you are.
Conclusion
Incorporating customer feedback into your business strategy is not just about responding to complaints—it's about creating a dynamic and interactive business ecosystem. By valuing and acting their input, your small businesses can drive growth, improve customer satisfaction, and build a strong, loyal customer base.
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