Customer-centric Info-Tech Strategies

Customer-centric Info-Tech Strategies

Lesson 08: Customers’ roles

1. Customer feedback helps improve products and services

When you initially introduce a new product, brand or service to market you probably have an idea about customer needs. Market research that you conduct before introduction gives you an idea if potential customers would be willing to buy it and also they can give you some tips on how you could improve it. However, only after your customers use your product or service you can learn about all the advantages, flaws and their actual experience. On top of that, their needs and expectations evolve with time.

Customer feedback is an insight into what is working well about your product or service and what should be done to make experience better. You might have the best expertise in the industry in which your company operates, but your professional knowledge will never be more valuable to business performance than customer insights. Their opinions help you ensure that the end product will actually meet their expectations, solve their problems and fulfill their needs.

2. Customer feedback helps you measure customer satisfaction

Customer satisfaction and loyalty is a crucial factor that determines company’s financial performance. It is directly linked to many benefits, such as increased market share, lower costs, or higher revenue. Many studies confirmed close connection between customer satisfaction and business performance. Therefore, there is no doubt that you want to make sure your clients are happy with your products and services. Naturally, the best way to find out if you meet their expectation is to get their opinions. Using rating-based questions you can easily estimate the level of satisfaction and consequently predict your company’s financial condition in the future.

3. Collecting customer feedback shows you value their opinions

By asking your clients for feedback you communicate that their opinion is important to you. You involve them in shaping your business so they feel more attached to your company. Listening to their voice helps you create stronger relations with them.

4. Customer feedback helps you create the best customer experience

Today’s marketing is heavily based on experiences people have with products, services and brands. They do not buy Apple products just because they are good. They want to demonstrate their status and affiliation to a particular group.

5. Customer feedback helps to improve customer retention

Satisfied customer will stay with you. Unhappy customer will eventually find a better alternative to your business and leave. Customer feedback helps you determine if your clients are satisfied with your service and detect areas where you should improve.

6. Customer feedback is a reliable source for information to other consumers

In the times of social media, consumers do not trust commercials or expert advice so much. Opinions provided by other customers who have already used a product or service are more reliable source for information these days.

7. Customer feedback gives you data that helps taking business decisions

There is no place for business decisions based on loose guesses on a highly competitive market. Successful business owners gather and manage distinct kind of data that helps them develop future strategies. Only in this way they are able to adjust their products and services to perfectly fit customer needs.

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