It is rightly said that the “brand value of a company is its customer”. The care and constant feedback from the customers are what separates successful brands from the market. The market is always dominated by the ones who offer the best services to the audience. The customer is the backbone of any successful business. The only reason why some brands aren’t able to make it big in the industry is only due to the lack of customer satisfaction. Now, you may argue that you have a winning product and still may not be able to sell it. The reason you are not able to sell the product is not that your assumption about the product being apt is wrong. There are so many competitors in the market looking to capture your audience with a good product too.
Customer Feedback comes into play when you have competitors who have a good enough product as you. There are chances that you will succeed just because of the care and constant feedbacks you are offering the consumer. Be it a food giant like McDonald’s or a tech giant like Sony, everyone knows the importance of customer feedback for their business. Taking Customer feedbacks is an easy business and the ROI is pretty great. No matter what kind of business you are in, you must indulge in a feedback mechanism to scale your company.
How Customer Feedback is a Two-Way Profit Mechanism
The biggest advantage of Customer Feedbacks is it is not just benefiting the company. Customer feedback is a two-way profit mechanism. The companies use this to make profits by improving on their service while the customer gets a free goodie or some benefits for a survey which takes just a minute. Now, to give you more clarity on how it works, let me give you an example. The world’s biggest healthy sandwich chain Subway uses SubwayListens survey portal to take feedback from their customers. This tells the food brand about food quality and why people are preferring certain kind of food in their outlets. The survey is not just limited to the food but also about the overall experience the customer had at Subway. This experience includes the hospitality, staff, cleanliness of outlet and many more other factors.
Importance of customer’s feedback
As a company, you solely must make sure the customer is having a happy time with your product. Until and unless you assure of the best experience of a potential customer, word of mouth or any kind of marketing strategy is not going to work for you. The first and foremost step after the creation of a company is knowing and targeting your audience. The second step is to make sure they give you authentic feedback about your product which helps you analyze your brand. Making changes per the customer satisfaction survey will bring unimaginable profits to your brand.
Now, coming to the implementation part, you must be wondering how to make the customer fill the survey form?. The first and foremost step is to let them use your product and take a while to experience it. You must give something to get something in return – this is a simple yet magical tactic that just works perfectly. Let’s say you own a food outlet, you can offer a free food item on next order placed by the customer if they fill the survey. This will bring a lot of genuine feedbacks on your table and will make recurring customers too.
Our only advice to the company owners is to solely focus on what the customer wants. We agree that marketing strategies vary and change in every business but customer feedback is the magic recipe every business should opt for. Taking customer feedback is very easy, convenient, cheap and makes your brand presence more clear in the eyes of the consumers. These small investments on feedbacks are turning some big brands like McDonald’s and KFC into billions of dollars of profits year after year. Start your feedback portals and take your business to the next levels of profits.