Customer feedback is one of the most important assets for a marketer or a business owner. It helps to identify the areas of business that delights or upsets the customer by giving you an outsider’s view on your business.
A bad customer feedback might impact your business causing damage to reputation, losing out on new opportunities resulting in decreased sales.
 Today, customer feedback is something that can either make or break a business. Here are some of the factors that you need to be concerned about as a Business Owner
Online Reviews:Â
With the advent of Internet and smartphones, it is easier for a common man to get other customer feedback on Search Engines, Social Media, and other Review sites before they visit a particular place.
 Did you know that 88% of the customers trust online reviews before visiting any restaurant, salon, supermarket or even a hospital? 72% of them get influenced by the positive reviews to take their step forward in visiting these places.
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Word of mouth:Â
This is one of the oldest factors that impact a business. 18% of your overall consumer sales happen via word-of-mouth. It is also proven to boost your other marketing strategies by a staggering 15%.
 Word of mouth marketing has a profound effect on your brand. One positive comment from a well-respected person in your industry and opportunities can rain down upon your business. Ensure you provide the best customer experience regardless of the customer and get a positive outlook on them. Â
Satisfactory Quotient:Â
According to a Harvard study, if your business has to be rated by a customer with a rating system, only the customers who give a 5-star rating are found out to be your loyal customers. Even the ones who had rated you with a 4-star would tend to incline to your competitors over a period of time if there’s a fractional advantage.
And this holds absolutely true if you give it a thought. Delighting your customer until they are satisfied enough to rate you with a 5-star is one way to improve your bunch of loyal customer base.
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Acknowledgement:
This tends to be one of the most underestimated factors of them all. Letting customers know that they are being listened to, gives plenty of scopes for them to come forward with valuable feedback every single time. It gives you an opportunity to know your business from an outsider’s angle giving you ample scope to improve in various areas.
Acknowledging the feedback in person or with a mail/SMS would make the customer feel special. A bad review can be followed up with an SMS giving a 10% discount on the customer’s next visit, which would make them come back. An opportunity to serve them better and convert the unhappy to a happy customer.
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With Customer Feedback playing such an important role in the success and failure of a business, it is highly important for a business owner to listen to their customers. But the irony of taking feedback on a coupon is that it can never be tracked or consolidated.
Digital is the way forward and it is totally alright to invest on a good feedback monitoring app. myPulse, a customer feedback app lets you measure and track feedback insights from customer ratings within a particular date range.
With other capabilities like multi-store feedback management, POS Integration, Offline access and personalization with your logo, it stands apart from the other feedback apps by miles. Download your myPulse free trial and start listening to your customers.
