There are many different ways to improve your business. You could look to upsell your retail items, you could start marketing and advertising campaigns, or you could simply get your name out there, socially.
There’s an even better option out there. It’s free. It’s genuine. It’s priceless. Let’s explore the importance of customer feedback.
Customer feedback includes gathering all the intel from your existing customers about how they feel about your business, from top to bottom. Figure out how they feel about your customer service, the product or service you’re offering, and why they chose you.
Knowledge is power when it comes to customer feedback. Now let’s turn this into gold:
1. Customer Loyalty
Enrich your relationship with your existing customers through customer feedback. Show your customers how much you truly value their business by asking them how they feel about your business and everything you offer. It’s not easy finding new customers so you want to do everything in your power to keep the ones you’ve got! Address any issues that your existing customers may have and be sure to fix them. Your customers will express their gratitude through customer loyalty.
This one is a no-brainer. Customer loyalty breeds referrals. The happier you keep your existing customers, the more inclined they’ll be to recommend your business to their friends and family. Repeat after me: a happy oldie is bound to bring you goldie.
3. Competitive Advantage
Knowing what’s going on in your customers’ heads is an easy way to gain a competitive edge. When you learn the likes and dislikes of your customers, you essentially stumble upon free market research for your target demographic. Show up your competitors by tailoring your business to the varying needs of your customers.
Like I said before, knowledge is power! Customer feedback, whether it be good or bad, is just sensible to have for your business. You will get the education of a lifetime and you can use that to grow your small business into the empire it was meant to be. Maybe a customer found your customer service to be lacking…that’s cool, now you know what area to focus on when it comes to improving your business operations.
Who doesn’t love to read a testimonial about a potential business they’re looking into? There are sites built JUST for the reviews (Yelp –duh). Inviting your customers, especially the happy ones, to leave honest reviews and testimonials for your business helps in two ways: First, it gives potential customers the inside scoop into how previous customers felt utilizing your business. Second, and this one’s a big one, it establishes your business’s credibility. The more people that leave reviews, the more it appears that you’re a busy, successful, and flourishing business. You won’t be going out of business anytime soon!
6. Employee Satisfaction
As a business owner, it’s easy to get caught up in always worrying about your customers. However, without your rockstar employees, your business wouldn’t really exist. Leverage your customer feedback to increase employee morale, and also as a teachable moment for each of your employees. Touch upon their strengths and weaknesses through the eyes of your customers. In the end, everyone just wants to be better and do better.
Don’t shy away from customer feedback…the good, the bad, and the ugly!
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