Companies undertake a lot of efforts to make their products or services innovate with new ideas & concepts by advertising & marketing campaigns, etc. They ensure that a customer makes optimum utilisation of their products or services & gets satisfied. Moreover, a satisfied customer will become a brand loyal & will spread positive word of mouth, thus making the product or service popular. Apart from all this activities, it is also necessary for companies to study, understand and monitor customer needs & demands. All these activities help a company to understand their customer’s psychology. And it can also be used further to get valuable customer feedback.
Customer feedback is very important for a company, as it enables them to evaluate their product or service on various levels. Customer feedback can be conducted by various activities like surveys, questionnaires, interactions with customer at different situations, retention programs, etc. Let us discuss some of the factors which are important:
Accurate feedback on products: For every company its product or services which are offered seems to be best, but it is only the customer who has used that product or services can provide more accurate ratings. Moreover, it depends upon customer to customer individual perception. Some customers, who give critical or serious feedback about particular product or service, indirectly provide some path to company regarding improvements in their product line or branding.
Helps in service improvement: To be Successful in a competitive market, a company needs to keep its customer’s feedback on high priority. The feedback helps in improvement & development of products or services of the company. It is very important for a company to take feedback seriously & implement the same in the development of the product.
Highlight critical areas: Customer plays an important role in influencing others by spreading word of mouth. A satisfied customer helps in making the brand popular but an unsatisfied customer may lead to negative impact on minds of other customers. Weakness & disadvantage of product or service are often highlighted by customers, so it is necessary for a company to respond to such reviews or complaints on high priority basis & get it resolved as soon as possible.
Customer needs & demands: For a company to be more popular & leave a positive mark on customers mind, it is very important to understand what customer needs & demands. This can be done through feedback because it helps in studying customer minds, their requirements, behaviour etc. A customer feedback is the way to open his minds & understand his behaviour towards product or service.
Address complaints on priority basis: Customer feedback not only helps in improvement of existing process but also leads to perfection of the product. So it is necessary to address the complaints of customer on high priority because if these complaints are left unheard there is possibility that customer may get diverted to other competitive brand or substitute of the product or service.
A satisfied customer always fetches more but an unsatisfied customer will at least see to it that his/her closed ones don’t go for that product or service. Hence, it is important for a company to appreciate customer’s feedback.