The Power of Customer Feedback: How to Use It to Drive Success

Customer feedback has emerged as a key driver of long-term success. Today’s businesses seize any opportunity to speak with or learn about their customers. Businesses invest millions of dollars in feedback channels such as emails, reviews, feedback surveys, and website analytics.

According to the findings of this Harvard Business Review study, customers who were solicited for feedback were more profitable and less likely to churn than those who were not.

To obtain actionable feedback, you as a business must ask customers what they want at the appropriate time. You can obtain feedback immediately following the conclusion of a live chat conversation, a successful checkout, or the resolution of a support question.

To obtain actionable feedback, you as a business must ask customers what they want at the appropriate time. You can obtain feedback immediately following the conclusion of a live chat conversation, a successful checkout, or the resolution of a support question.

Why you should focus on collecting feedback?

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Here are some facts that show how important it is to collect feedback and act on them to keep your customers happy.

  • According to a recent Microsoft report, 89% of customers want companies to ask them for feedback. To customers, this is a sign that you’re willing to listen and learn
  • As many as 86% of customers say that good CX will turn them from one-time clients to repeat buyers. 
  • Last year, 60% of B2B companies reported having customer feedback software to facilitate the process of managing suggestions and customer sentiments.
  • When it comes to customer satisfaction, Hubspot reported 83% of companies believe it is vital to make customers happy, and see increasing revenue because of this.
  • Just getting 12% more of your customers to advocate can double your revenue. 

Simply stated, your customers are the backbone of your business and this makes it essential for you to listen to them. This not only tells you what you are doing wrong but also focuses on what you are doing right. 

In fact, it is the consistent check-in, feedback, action, and follow-up loop that converts regular consumers into brand advocates.

Channels and types of surveys to collect feedback 

There are different channels and surveys that can be used to collect customer feedback

Online surveys are a common approach to collecting client feedback. Surveys can collect any type of input, including text, ratings, and reviews. A single survey might also include multiple sorts of questions. It can be collected after the end of each customer support chat also.

  • In-app surveys are the most effective approach for SaaS companies and retailers to gather client feedback. In-app surveys are brief pop-up survey inquiries given to app users in order to solicit feedback on their experience with them.
  • Email is a direct and personal way to solicit feedback from both existing and new customers.
  • Listening to social media discussions can help in collecting and utilizing consumer feedback. You may automatically collect brand mentions by watching social media. 
  • Many businesses record phone conversations in order to better understand customer pain areas and train support personnel.
  • Customer interviews provide rich, detailed information about their experiences and aid in determining what motivates buying behavior.

The different types of surveys can help you determine 

Unsolicited feedback from social media or online proactive reviews frequently provides more details than surveys or requested feedback. This form of consumer feedback yields more truthful ideas about how customers perceive your company and may even disclose something new.

Channels used to collect feedbackSource

Benefits of implementing feedback?

Nothing beats going above and beyond to provide a consumer with something they weren’t expecting from you. It’s like surprising them with excellent customer service.

Delighting clients entails more than just addressing their immediate needs. It is more about developing genuine relationships that will last the test of time. Businesses hosting online fairs or events should implement tools and processes to provide an exceptional customer service experience.

There are businesses that flip dials in a variety of ways to thrill clients. Here are some of the main reasons why customer happiness is so important for organizations.

  • Reduce churn rate

When you understand your client’s wants and delight them with outstanding customer care by listening to them and understanding their needs, it motivates customers to stick with your brand, considerably lowering customer turnover.

  • Increase CLTV

Customers will defect to competitors even if your product is great but your service is not up to the expectations. Use the feedback to improve the service and to make them feel heard. Offering excellent customer service is an investment in your company since it enhances customer lifetime value. 

  • Boost customer loyalty

It cultivates loyalty when you walk in your customer’s shoes and provide a service that impresses them. You may acquire your customers’ trust, and they will spread positive word of mouth about your company.

  • Using Feedback to drive success

Whatever input you receive, whether positive or negative, will be beneficial to your company. Here are some ideas for how to use client feedback to improve your service and create an unforgettable experience for your customers.

  • Adding credibility

A satisfied customer is a satisfied customer; a happy customer is a maintained customer. A disappointed customer, on the other hand, grows frustrated and begins researching your competition.

If you do listen to them, you can begin to improve the experience for all of your clients while also providing them with a great customer care experience. Listening to customers allows you to keep your finger on the pulse of your business.

  • Showing you are responsive

Negative feedback about your company can occasionally be beneficial. Allowing unfavorable comments on your website and social media provides you the opportunity to redeem yourself by responding politely and personally. This is a terrific PR move for your company since it shows your customers that you value their feedback and are genuinely listening to it.

An omnichannel ticketing software like Kapture can help you monitor all your social media platforms via a single platform. Agents can reply and resolve all queries and feedback coming from different channels using Kapture without having to toggle between screens, saving your agent time. 

  • Increasing Revenue

A prominent review section on your website assists clients in making informed decisions. If you don’t have reviews for a product or service but a competitor does, a consumer will most likely to go with the competitor. 

The bottom line is that when potential customers see feedback from prior customers, they will have more faith in your company and feel more certain that acquiring your products and services will be a wise investment. Customer feedback will assist you in increasing sales, so this is a crucial element to include on your website.

Retaining customers totally depends upon the kind of customer service you provide post-sales. Solving issues quickly creates a sense of trust and loyalty among your customers and keeps them loyal towards the brand for a longer time.

  • Planning your operations

You can keep asking for feedback while you construct your product or customer service, especially if your buyer dislikes a certain component of your design or service. You’ll be able to tell if there’s anything they’ve suggested you do differently. You will discover that feedback assists you in making business judgments while keeping them viable.

For example, if most customers complain that slow response from agents is one of the major issues while trying to connect with the customer support team, the company can work on it. Companies can implement a self-serve portal that can help customers resolve issues on their own. Customers can resolve easy queries on their own and agents can focus on complex queries. 

  • Evolving your product and services

Implementing feedback helps you gain customer trust and loyalty. Instead of guessing or hoping for what your consumers want, you will be delivering them exactly what they have requested, and you will be able to firmly drive your business ahead.

Feedback like agents not understanding the query or too much hold time means that your team lacks the knowledge or doesn’t have quick access to solutions. A Knowledge Management System can help you create a centralized knowledge base that can be accessed easily and deliver quick resolution. Kapture comes with an agent assistant window which is an AI-powered chat bot that combines customer data and a knowledge base to provide contextually intelligent resolutions. Agents can simply choose the solutions provided by the bot without having to go through the knowledge base making it faster for the customers.

Utilize feedback to improve CX with Kapture

A long-term commitment to preaching a customer-centric culture, followed by a tenacious commitment to gathering, analyzing, and sharing feedback across the firm and incorporating it in your support to provide smooth service, is critical to moving the business forward.

Collect feedback automatically at the end of every interaction with Kapture. Analyze and improve customer service metrics like CSAT scores, NPS, etc. using its robust reporting and analytics features that can generate reports in 500+ formats. Take informed decisions that can help your business grow and keep your customers happy. 

About the Author

Nimit Kumar
Ankit Kochar
Ankit Kochar is a content writer at Kapture CRM who loves to write creative as well as informative content. He has worked as a creative and academic content writer in the past and has a keen knowledge of writing reports, essays and dissertations. His current field is helping him research and hone his SaaS knowledge.

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