Big rewards come by if you are listening to criticism. Check how to identify, encourage and nourish the customer love that can make your brand soar.
For any business to flourish, customer feedback is the best source for collecting consumer insights. Seeking feedback, analyzing it further implementing fixes in your product/service wherever necessary can create all the difference towards building brand loyalty plus achieving success.
The fact is, most of the flourishing businesses today take the thoughts plus feelings of their customers rather seriously. It is quite clear that getting tagged with big brands does give the business better exposure and brand value. The reason is simple, bigger brands work extensively on customer feedback to continuously lift the status of their product.
Brands like Amazon’s customers trust that someone from the company is carefully considering their needs. Multiply that dynamic with millions of vendors partnering with Amazon and similar big brands enabling their growth and also the growth of their partners. The fact that Amazon is one of the most popular brands today is because of the fact that customers can rely on them and one of the best customer feedback system is adopted by the brand.
So, it is evident that it gives huge dividends to listen. Let us check some of the prime strategies to maximize customer feedback:
Actively look for customer feedback in as many ways as possible
When any company comes into the market with an original product, it must rely highly on customer feedback. The best way of seeking feedback is to ask tangible pinpointed criticism once your customer has tested the product. The brand needs to listen to their ideas and thoughts and collect the best of those back to the drawing board to revise their products.
With the help of those valuable comments, brands can tweak their designs and create better products.
All customers are looking to provide valuable feedback. People these days are seeking to be heard, yet may not provide their perspectives unless they are asked. Never hesitate to ask for feedback. It is the most direct method of learning what customers are thinking and towards building connections with your customers.
When you are providing the right kind of customer feedback system or tool, you are geared with the right kind of tools to accurately understand customer sentiment. However, your goal should not be just creating web-based feedback but also instant feedback processes, so that you can record the opinion they have about you.
And words we use too have the power to spur action. Hence, word-of-mouth publicity also plays a big role in creating brand value. So, good feedback from the customer can create a huge ripple of good value addition to your brand. Such is the power of peer insight.
Seek the love of your customers, not mere like
Particularly while beginning your business, prioritize putting together one small group of people who will love your service or product rather than a large congregation of customers who merely like it. As you are attempting to scale it, begin with a small core group where the customers are completely in tandem with what you are offering. Else, the appreciation of your business would soon fall apart. If you can manage 5 odd people to fall madly in love with your product or service, you will get at least 3000 people who like it. However, if you have only 5 people liking your product, chances are no one will stick to it.
Attempting an identification of that love factor is critical. If you understand the value of customer opinion, you will understand why all successful businesses get customer opinion in their products and services.
According to the Salesforce study and survey, almost 70 percent of the consumers who provide feedback are more likely to remain loyal to the businesses that understood their individual requirements and offer customized service to the customers. It is clear that if you begin nurturing a small group that loves your product, they would be rather likely to stick around for a long period.
Integrate your customer feedback with other kinds of customer data
Direct feedback from consumer offers the advantage that it is relevant to your business also the specific needs of your customers. However, it is isolated information that remains detached from the greater market context.
Fortunately, it is not really tough to acquire customer feedback, even though it just happens to be the word of mouth buzz or mere comments made casually regarding your product or service and place it within the context of consumer insights that are generated using big-data analytics.
The data-driven techniques have been found to have made a huge difference. For instance, more than 700 businesses found that investing in big-data solutions provided huge profit boos in their operation for these businesses that average around 6 percent. Analyzing your customer’s feedback through the big-data lens may give rise to similar kinds of benefits.
Compare the feedbacks from core customers to insights from a larger sample collected from other sources. Ask if your core supporters if they need a bigger market space, and by chance, if they don’t, how would you pivot to maintain and keep the current supporters while you are expanding to reach a final group.
Reach out to all your customers right away
Sharing the information and passion about your products should not be a one-way process. Seeking feedback from the customers is one great way of connecting with your clients and the fan base, also it is a huge opportunity for all small businesses to learn and grow.
You have lovely tools to garner the kind of loyalty from your customers that bigger customer giants attract. All you need to do is actively look for opinions, listen rather carefully and look for those who love your service or product. Once you have analyzed that feedback with accurate kinds of customer feedback tools, you will automatically know where your opportunities for innovations exist.
To Sum up
Customer opinion is one of the best methods of understanding your product or service performance. How you will be able to fare in your business and how your customers react to your products or service are totally related. The more you are active about the customer feedback, actively seeking customer opinion and the better are your abilities to create good customer loyalty and increase brand value. The role of customer feedback software is to provide you with exactly that kind of atmosphere where your customers remain loyal and hence your brand value is increased.