Obtaining User Feedback

With so many questions going unanswered, Product Feedback is an uphill task, but one that can be done with expertise if the company is well-equipped and ready to do the job. The Product Feedback can easily be focused on one feature of the product or encompass the entire product and overall customer experience. Customers are always encouraged to provide feedback as they are directly engaged with the product and have high stakes in its success.

Importance of Product Feedback

Feedback is one of the most valuable pieces of information that a business can receive concerning its product. It provides them with insight into the customer’s thoughts and whether it is fulfilling its functions. This data can be gathered in different ways through beta programs and focus groups. 

A great feedback program should provide real-time data for the company from the ideal customers. Marketers can use this information to find out what the customers love most about the product and the program’s loopholes. This feedback also shapes the company in terms of the market and the right customer segments to target. Here are some reasons why every company should collect feedback from customers:

i. It enables them to know the customer’s likes and dislikes

When customers are asked what they think about the product, you shall know what they like and do not like about it. As a business, this helps you understand what is working and not working in the product to make the necessary improvements. This information quickly helps you build a strong product and also know what the customers what exactly. In the end, it makes your business more robust and more profitable.

ii. It ensures customer satisfaction.

Customer satisfaction is proportional to low customer churn, high revenue, increased profits, better market share, etc. There is a very close relationship between business performance and customer satisfaction. Getting customer feedback is usually the first step towards keeping them satisfied and ensuring they keep supporting you as a business.  They are many ways of doing this, such as NPS, using rating scales, and text-based comments, among others, to ensure they are satisfied with what you are offering.

iii. Helps to Improve the Customer Retention

An unhappy customer does not have to stick with your company, as there are plenty of other options out there. It will not be hard for them to find another vendor, who is probably your competitor, and take all of their business to them. Going to your customers to receive their feedback shows them how much you care for them, and you are ready to make amends to the products to suit them if necessary.  Each customer is likely to be disappointed in your product at one time or the other and will be willing to tell you about it. Utilize this information to retain them.

iv. Ensures that you make the Right Decisions Concerning your Customers

In a highly competitive market, it is hard to guess your way into success. There are plenty of laser-focused strategic actions that can be taken. Having a fully-fledged data system helps you make hard and fast decisions that make sense. This feedback from your customers is one of the best things you can use to base your decisions. It helps you know which products to keep investing in and which ones to discontinue. You will also know which features to add and which ones to remove.

v. Helps you get more referrals

Getting more customer feedback is likely to lead to more referrals. This is because each feedback you conduct will bring you closer to your customers, and these customers will refer you to their friends. In fact, in most cases, the customers are never alone when giving feedback, and their friends are directly recruited to your company. Additionally, when a customer feels valued and is happy with your company, they are likely to share this information with their family members and friends. With each customer interaction, you shall be adding more customers to your fold.

Ways of Collecting Customer Feedback

There are many different ways of collecting customer feedback. Here are some of the most effective ways;

• Through email surveys
• In-app surveys
• Net promoter surveys
• Transactions surveys
• Through social media
• By creating a community of users

Summary

As you can see, Product Feedback is like “food” to the company. It is what the business feeds on and makes it grow.  Well-defined product looks will help the product teams store valuable information, build products that customers will love and buy, and make necessary changes that will have significant financial results for the business.