Do you know what your customers want? What are their needs?

Ask your customers these questions directly to get their answers. Don’t try to figure out their answers because you’re not your customers. Listening to your customers is a critical element of your business success strategy. Do you know why? Read on to find out.

Just like product research, market patterns and competitor analysis, customer feedback is a valuable source of insightful information for your business. According to a 2015 study conducted by Moz, online reviews influence about 67% of all customers who buy products from a brand for the first time.

According to another survey by Bright Local, 88% of customers trust online reviews just as personal recommendations. With the ability to help businesses make profits, customers are so valuable that it’s important for businesses to find out what makes them tick.

Polls, surveys, product reviews, engaging on social media, tracking complaints through email and educating customers are great ways of collecting feedback from your customers. Analyze the information to better understand your clients. With social media rage, voice of the customer is now louder than ever.

Acknowledge and address customer grievances to keep them happy for the good of your business. Here are the top 4 reasons why listening to your customer is critical to the success of your business:

Top 4 Benefits of Customer Feedback

Improves business Products and services

Listening to your customers ensure you create products and services that meet their needs. As a critical aspect of the product development process, listening to customers for their feedback ensures your end-product doesn’t just satisfy their needs, but also solves their problems.

Innovative technologies support the creation of useful products designed to surpass customers’ expectations. Integrating customer feedback and product or service development gives businesses a competitive edge and produces brand advocates for even more business through word-of-mouth. It also fosters customer loyalty.

Fosters measurement of customer satisfaction

Customer feedback provides the information you need to measure if they’re satisfied with your brand, product or services. With information on the level of customer satisfaction, you can determine whether your products meet or surpass their needs. Emails, one-on-one conversations, websites, phone calls or mobile apps can help get customer feedback.

Questions based on ratings can help you track your customers’ happiness and satisfaction levels over time.

Development of better customer experience

Customer feedback offers actionable insight to help you develop a better customer experience. An exceptional customer experience is the key to retaining happy customers and getting new ones through word-of-mouth referrals. Ask your customers what they want and use the feedback collected to develop consistent yet personalized experience buying from your business.

Unparalleled customer support services and experiences are the key to gaining loyal customers.

Improved customer retention

Listening to your customers for their feedback opens a direct communication line between you and your clients. When your customers are happy, they’re more likely to bring you repeat business. Address issues raised by unhappy customers to ensure they’re retained in your business for future sales.

Data collected from customer feedback can insight better decision-making. Listening also identifies brand advocates who often give high scores. Develop strong and mutual relationships with identified advocates. Consistently ask for referrals and testimonials to help boost more confidence in your business.

Customers are core to your business and listening to their needs is important to your business success. Their feedback helps promote prolonged business life. The more feedback you get the better. Listen to your customers to capture preferences, expectations, experiences and feedback to insight greater business success.

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