Customer feedback is the information provided by the clients about a product or service; or about general experience they had with the company. This information reveals if the respondents are satisfied or dissatisfied with it. Through this medium, customers share their opinions and suggestions with the company. Customer feedback is said to be an asset for improving business. This is because when companies act on their customer’s feedback, it enhances their experience, which in turn increases customer satisfaction
. Satisfied customers act as a mirror to reflect the company's actions and behavior. They also increase the profits of the concerned company. Customer feedback is therefore a very important domain in marketing. On the other hand it also helps in the self assessment of a company.
To stay ahead of competition a company should never stop listening its customers’ feedback, whether it is positive or negative. Top performing companies understand the important role customer feedback
plays in business. They consistently listen to the voice of customer and yield enviable output. 70 percent of people trust recommendations from complete strangers online. This moves them closer to engaging further with the brand and becoming a potential customer.
Customer Feedback for Efficient Marketing
Companies and organisations can use Customer feedback to improve the existing products and services. When customers tell what they want, companies can make improvements and boost customer satisfaction as well as customer loyalty
. This law applies to marketing as well. Aligning marketing and sales to customer feedback opens the door for improvement in quality and quantity of the business.
Understand customer personas
Taking feedback allows the authorities to identify who the target audience is and what they want. The management can design products and policies after understanding the customer persona. This way there will be less chances of misfire. They can formulate marketing strategies after knowing their target customers' persona and gain maximum attention.
Identify gaps between the current content marketing strategy
Customer feedback may uncover any discoverability problems or untapped opportunities to expand the target market. If the administrators of feedback surveys formulate it the right way, the results can pinpoint the gaps and areas of over-saturation. That’s one way to decide what content to focus on, but it’s also a massive, time consuming undertaking. Instead, the best way to identify the gaps in marketing strategy is to understand the customers’ pain points and ensure that it maps back to each pain point.
Create more impact on customers
After understanding what the customers want more and where there are gaps in your current strategy, the policy makers can plan out. Feedback can also be used to ask the audience for suggestions or new ideas. After knowing all this, they can campaign in such a way to create the maximum impact in the customer’s mind. A marketing strategy that has an impact on the viewers force even reluctant ones to buy from a company.
Select the right distribution channels for the customers
There are numerous channels to reach out the customers, such as social media, blogs and email. This number continues to grow so the management must think strategically about where they want to engage customers and which channel is the most efficient to act as a marketing platform. They can use customer feedback to find out which marketing channel will yield the maximum results with their respective marketing plan. For instance, the administrators can ask their clients on which channels they spend the maximum time. Through such strategies, the company can reach the target customers at the right time and at the right place and make the most of their marketing plan.
Formulate the best marketing campaigns
By capturing customer feedback, the concerned authorities can formulate marketing strategies that is more or less designed by the customers themselves. In this way they can also validate the direction and inspiration for further development.
The authorities can also ask their customers what they think of their marketing tactics before launching a major marketing campaign. Post-launch, they can use a different set of customer feedback surveys to find out find how a particular campaign fared. Thus, customer will provide valuable insight which can help them to improve their marketing campaigns in the future and create more impactful messaging.
Apply surveys in real-time, regularly
Feedback collect real time information and real time perception of the customers with respect to the company. This means that if companies conduct feedback surveys periodically, they can get user perception in a chronological manner. Customers too, want to give their feedback and feel heard. Companies should ask them what they think of your current plan for content marketing and see if and where there’s room for improvement. This will ensure that companies do not waste their resources in the wrong places and please the customers at the same time.
Other places to use Customer Feedback
It costs six to seven times more to obtain a new customer than to retain an existing one. So making use of any indices available to retain customers makes more sense than acquiring new ones. If customers get frustrated with a company, or suspect the competition can serve them better, they may switch lanes. Monitoring and using feedback ensures that companies adjust to keep customers happy. Companies retain happy customers. Such customers also act as brand ambassadors
. In increasingly competitive markets, a way to differentiate oneself from one’s competition is to make sure that the customer experience is impeccable.
For customer feedback to improve business, it must be shared across all departments. Such internal discussion of employee feedback can help employees learn how to better address customer concerns, and reward valuable customers for their loyalty. Taking customer feedback and analyzing it allows the authorities to make informed business decisions. If feedback shows customers are frustrated with any aspect related to the company then the concerned authorities must amend it. Customers make or break businesses, so companies must also do their best to give them what they want.
Posted in Analytics, Customer Feedback, Customer Satisfaction
Tagged customer feedback, customer feedback and marketting, customer satisfaction, marketing