If you are a start-up business, you need to grow and one of the biggest parameters of growth is customer feedback. That is precisely owing to the fact it can enable us with insight into how we are able to improve our venture.
But there is a lot more to customer feedback than what has been just mentioned.
In the article, we are trying to list the seven reasons why customer feedback remains crucial for the start-up business you own. We could say that using a customer feedback app comes rather handy in receiving accurate and measurable insights that reduce the strain of understanding a huge quantity of customer feedback.
To better your services and products
As I said earlier, collecting feedback gives you the way to find out how you could improve your start-up.
We would be able to understand a great amount about our target users through market research. But you would be able to learn a lot more about your services and products when you have your customers experiencing them.
Yet another thing worth remembering is that a user would need to evolve through time. Customer feedback through customer feedback software can give you a proper insight about what is working for their benefit and what could be done to better customer experience.
To estimate customer satisfaction
Customer satisfaction could give you loyalty. And in turn, could help you identify the financial statement of your start-up. The reason is it is seven times cheaper when you retain a customer than when you attract someone new. It is easier and less time-consuming to convince somebody who has tried what your sell that customers are not familiar with the start-up you wish to run.
Do you know what is the best way to identify if your offers and products satisfy your customers? It’s their feedback. This purpose made us recommend the Net Promoter Score (NPS) survey in case you wish to measure customer satisfaction. That is because this survey merely asks one question – How likely would one customer recommend your service or product?
Towards creating a better customer experience
Apart from measuring customer satisfaction, feedback could also help you give a better user experience. You could also do this through a customer feedback tool asking users what they find the best about your services and products.
Often, you would find it surprising how customers would like your products as you give them the best customer service. Even if your values align with the values they have imbibed. However, the main point here is to give the best customer experience at each touchpoint. This could encourage them towards staying loyal to your start-up.
To provide customer loyalty
We would wish to provide the best kind of customer experience plus ensure satisfaction as we would want to provide user loyalty. You need to keep in mind that unhappy customers would leave you and seek a better substitute. On the other hand, a happy customer would stay also spread the word regarding your start-up.
As a matter of fact, you need to understand how you could make your customers satisfied. The best method of doing that is for you to collect customer feedback. You could do this by conducting a regular set of email surveys or even asking a user’s opinion in case he/she decides about deleting or downgrading his/her account.
Doing this also enables you to identify plus solve the issue towards boosting customer loyalty.
You need to show that you value customer insights and opinion
The flipside of the coin is, by collecting customer feedback you will make your users feel that you give worth to your opinion. That is because you give them a feeling of involvement in shaping your business/product/service.
The reason is you make them give a feeling of involvement in shaping your start-up of yours. Moreover, it gives you the power to create a meaningful relationship with your users. And the best part is, these users could be your brand ambassadors who would spread the information regarding your start-up.
You would remain surprised at how people trust their online recommendations just as much as they do personal ones.
They would help in promoting your start-up
While we compare with the previous point, 79% of the customers would trust online reviews just as much as the personal recommendations. In simple terms, your customers would like reading reviews from the people who have bought and used what you sell. You know very well that customer feedback could come in handy towards promoting your start-up of yours.
Imagine a situation where you are seeking Airbnb accommodation. Keeping aside the apparent parameters like the cost and area, you would like to check the other things like:
- Superhost standards
- Basic rating
- Reviews from guests
These are some of the customer feedbacks that could impact the popularity of Airbnb. When you use them correctly, it could come with a similar impact on the start-up.
To make business decisions that are informed
The key to making a start-up grow is providing the best service to the users you have. Nonetheless, there could be no place for decisions that remain based on guesses. Rather, it is best that you receive straight feedback from your customers.
You could use tools like social media listening to understand what people think of your service/products on the different platforms. Another method is checking the review and forum websites that are relevant to your field of work. It would also help if you made different kinds of customer surveys.
By doing so you would ensure that you have the right kind of tangible data that is required to improve your start-up.
Collecting the kind of customer feedback with the help of the right kind of customer feedback tools enables you to stay ahead of things. Moreover, if you treat them as a valuable resource for gathering information, you will know how to serve them better. The best way is to collect customer feedback also treat them as one pointer regarding how you could improve your start-up of yours.