Why Is Customer Feedback Important To Your Business?

– By B. Swaminathan | IMAWS |

Customers are the lifeline of any business. No matter how good products or services you sell or build a strong team, an unsatisfied customer is a red flag to any business growth. On the other hand, a business that meets customer requirements and keeps them happy throughout their life cycle generates brand loyalty and trust. But do you know which stage or aspect of your offering makes happy customers?

In a chat with CMR, Sheshgiri Kamath, CEO and Co-Founder of Kapture CX, speaks further on how the anatomy of an organization, i.e., customer experience, is the most important aspect of an organization.

Q1. Why do you feel that customer service is the anatomy of an organization?

Ans. Gathering customer feedback is of the essence as it helps you understand what your customers think about your service/product, areas of improvement, level of customer service, etc. It is considered one of the most valuable tools for acquiring a new customer base and retaining the existing one. In-depth customer feedback makes businesses understand their markets better and innovate smarter. It can help them analyze customers’ needs and develop what is actually needed in the market. In today’s digital-first world, everyone’s a critic, and businesses must always consider the anatomy of customer feedback as an integral step. Whether positive or negative, a customer’s opinion shows they care about your business. This helps create opportunities to learn, improve and capitalize on new market opportunities.

Q2. What are the ways customer experience helps you identify the areas of focus?

Ans. Receiving customer feedback should always be considered a gift. It helps in identifying the flaws and strengths of your business. Hearing directly from the customers can help in tweaking and tailoring the strategy for building a product or service. Based on the insights gained from customer reviews, businesses can focus on the areas that require attention and improvement. This helps customers feel valued and turn the business into a customer-centric company.   

Q3. Please explain the correlation between customer experience and how it advocates a brand.

Ans. There are many methods for customer acquisition, and word of mouth is a perfect channel to grow any business. Satisfied customers are most likely to recommend your business to others, which makes them brand advocates. It is an organic way to grow your business and build it on the basis of positive customer feedback and positive reviews. On the other hand, dissatisfied customers are likely to leave a negative review that may cause damage to the brand’s reputation. Hence, prioritizing customer feedback can build brand advocates and scale business.

Q4. How does customer service help in guiding product/service development?

Ans. Product or service development requires continuous amendments to satisfy market needs. Businesses must go through customer feedback and make informed decisions. This means businesses need to dedicate time to reading customer feedback and making amendments when necessary. Incorporating customer feedback in the product development process ensures business competitiveness in the market.

Q5. What are the ways customer experiences support data-driven decisions?

Ans. Gathering customer feedback throughout their lifecycle can be a valuable tool for a business. Marketing teams can make data-driven decisions, base buyer personas, enrich leads, and segment prospects. As a result, businesses are able to deliver more personalized and meaningful experiences. In addition, the sales team can integrate customer insights into purchase decisions and address customer needs across all stages.

Q6. What are the current trends in user-generated customer experiences?

Ans. Poor customer experiences are a big red flag for any business. Customers’ behavior keeps changing, and switching to your competitor takes them a second if they are left unhappy with your products or services. Customer satisfaction influences whether they want to continue with your business, and this builds the CSAT score of a business. Back-to-back positive customer experiences incorporated with their feedback win over lower CSAT scores and give customers the excellent satisfaction they expect from your business.

Q7. Have organizations started realizing that customer feedback can impact their bottom line directly?

Ans. Customer feedback is essential to any business’s innovation and growth journey. It can build brand loyalty, and having brand advocates is a goldmine for your business’s sustainability. Remember that customer feedback is available across channels, and multiple touchpoints can lead the business to build a positive customer experience. Value their opinion on every touchpoint, and they will build strong relations with you.

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