3 Reasons Customer Feedback is Vital For Your Business
By Denise Prichard
Your customers are everything to your business. They’re the reason you get up every day, the reason you do what you do. You came into the service business because you possess a passion for helping people and now that you’ve grown your business from the ground up, you’ve come to realize just how important those people are to you.
The feedback you get from your customers is equally important. With 92% of customers relying on recommendations from friends and family over all forms of advertising, you can venture a guess as to how valuable the feedback is from your existing customers. With your customer feedback, you’ll gain insights into how they feel about your business, whether they’ll recommend your business to their family and friends, and whether they’ll come back.
Remember, you want your existing customers to come back. Your existing customers spend 67% more than your new customers and that’s just not a number you can simply ignore.
Here are three reasons why your customer feedback is important:
1. Use customer feedback to check your performance
Customer feedback is a great way to get an accurate picture as to how your small business is performing. Your customers are the ultimate judge of how you run your business and their opinion is the one that matters at the end of the day. You can use your feedback to gauge various aspects of your business, including:
- Services you offer
Products you sell
Value of your packages and series
Performance of your employees
Specials and promotions
Once you’ve got a good handle how your customers feel about the above, you can begin to adjust any weaknesses in customer experience.
2. Asking for customer feedback shows clients you care
We almost don’t even need to provide an explanation to this one. Asking for customer feedback gives evidence to the fact that you care about the quality of service that you provide and are always looking for ways to improve. Customers like that they’re being heard and that their opinions actually mean something to you. Don’t underestimate the power of a happy customer.
3. Customer feedback ensures repeat customers
A happy customer is a customer that will come back to your business. Your repeat customers are the life of your business. They’re the ones that continue to come back to your business because they feel a sense of loyalty. Whether they love the particular services you offer or they fell in love with a special/promotion they purchased, the one thing that matters is that they’re continuing to come back to your particular business. It costs 6-7 times more to acquire a new customer than it is to sell to your existing customer—don’t take them for granted.