What is a Customer Feedback Loop and How Can It Help Your Business?
Customer feedback is very helpful to businesses. It lets businesses learn about the strengths and weaknesses of their brand and work on improving the customer experience. The problem is, sometimes, it can be challenging to gather customer feedback.
With a feedback loop, it becomes easier to understand what your customers are going through when using your product or service. But what is a customer feedback loop and how can you have one? Read on to find out.
What is a customer feedback loop and how can it help your business?
A customer feedback loop is a strategy designed to improve your product based on user reviews and feedback, using active interaction between the business and the customers.
To make it easier to gain constant access to customer feedback, tools like CRMs allow businesses to let their customers access a system where they can input their feedback anytime. The CRM then organizes all customer inputs in a meaningful way that makes it easier for brands to gain insights from the customers’ feedback.
This allows them to develop strategies to continuously improve customer experience, making it easier to establish brand loyalty in the end.
Tips to get started with a customer feedback loop
Here are a few tips to consider when implementing a customer feedback loop mechanism:
1. Use tools that make it easier for you to implement the feedback mechanism
Manually collecting feedback from customers can be done but the quality and quantity of feedback you’ll be getting will more likely be low. More than that, manually collecting feedback can be stressful for your teams.
To make it easier for you to collect feedback from all your sales channels, you can automate the collection process using CRMs like Saphyte that allow customers to provide feedback through forms (surveys), live chat, or a ticketing system.
2. Encourage customers to provide feedback
It’s also important to encourage customers to give sincere feedback. Otherwise, it’ll be difficult for you to determine their true experience when using your product or service.
Prompt customers to provide feedback only at critical stages like when they’ve made a purchase, or when they’ve made a rating on your website. You can also reward customers after they’ve provided feedback.
3. Analyze the feedback
Now that you have gathered customer feedback from all your sales and marketing channels, it’s time to organize them and identify trends and patterns in customer behavior and preferences.
You can create charts to gain meaningful insights from customer feedback. You can also organize them according to the departments involved (sales, marketing, technical, or support), or based on the type of review (positive or negative).
4. Start implementing changes
One of the most important steps when implementing a customer feedback loop mechanism is to actually start making changes based on customer feedback.
Customers provide feedback for a reason— they want to improve their experience the next time they encounter or engage with your brand. If the negative experience continues, it’s likely that they will churn and stop doing business with you.
The goal of the strategy is to improve brand loyalty, which helps you gain advocates for your brand who will refer it to their friends and families. Brand loyalty also helps you drive sales as there will be repeat purchases coming from the same loyal customers.
5. Close the loop
After customers leave feedback for your team, you should close the loop by following up with them directly. Timing is everything. And with tools like a CRM, you can provide a prompt response using automation.
For example, if a customer suggests you improve your product options, you can send them a quick, personalized email using the CRM to let them know the impact of their feedback on your team. This makes the customer feel heard and valued.
Start a customer feedback loop mechanism
Gather feedback from your customers now and make implementing the strategy easier by using tools like Saphyte.
With Saphyte, the manual process of collecting feedback from customers becomes automated using the system. You can also provide prompt responses, like thanking customers for their feedback, without manual effort.
Want to learn more about this feature? Book a FREE demo now and see how Saphyte can impact your organization.
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