5 Reasons why Customer Feedback is great for business

Here at iTS we know the importance of customer feedback. So much in fact that we developed a whole product around collecting and using feedback data to pinpoint where businesses can improve. With that being said, customer feedback is still often an underutilised resource for a lot of companies, so here's 5 reasons why using information from the feedback of customers can be extremely useful and important to one's business.
 

1: Tracking and measuring customer satisfaction

It seems obvious, but many studies have shown a close connection between customer satisfaction and business performance, which can lead to an increased market share and higher revenue through customer loyalty. Tracking your employees' satisfaction rating with customers can help to ensure a better communication with your buyers, as well as making changes to build and improve relationships over time.
 

2: Collecting customer feedback shows you care about their opinions

Giving your customers the options to express how they feel about your product or your customer service is a great way of telling them that you, as a company, are listening and really care about fulfilling their needs. It helps to make people feel they are getting an experience custom to them and it also displays you as a company always looking to improve.
 

3: Customer Retention

Happy customers become loyal customers. Those that feel unsatisfied will look for other services for a better experience. That's why keeping a close eye on how customers are feeling in regards to your service can be crucial in keeping them. Using a solution that collates feedback offering real-time data can lead to making informed decisions about continuing to provide a service that customers can be happy with every time.
 

4: Reliable data for making important company decisions

Customer feedback is one of the most reliable sources for data that can easily be used in making important business decisions. Customer insights help understand clients and their needs more profoundly, finding out exactly where you should allocate your money and improving ROI.
 

5: Improving your company and service

Using feedback data can be a great way of seeing what works and what doesn't within your company, from negative experiences with your employees to genuinely positive suggestions on how to improve a product or service. It doesn't only help the customer in the short term, it provides the tools needed to grow your company and take it to the next level.
 

Check out evalyou8 for more on tracking customer feedback.