Good business owners will be inspired to take action when they receive complaints or any kind of critical feedback about their products or services.
Our deeply ingrained ideas about good customer service compel us to believe that, when a customer says something is wrong, we need to fix it. We want to abide by that often-debated adage, “The customer is always right.”
However, while customers should always feel like they are right, you can’t let every customer’s whim dictate how your business operates.
https://www.cmswire.com/customer-experience/not-all-customer-feedback-requires-change/
Data shows that customers expect to be interacted with, and those interactions heavily influence retention. 51% of consumers expect companies to ask them for feedback directly, which may explain why the volume of feedback is low for companies who don’t bother asking. Unprompted, companies typically only hear from ~1% of their customers. Not only do customers expect it, it’s also a strategic investment—we’ve found that simply interacting with customers and gathering mobile customer feedback can increase three-month retention by as much as 400%.
https://www.business2community.com/mobile-apps/more-mobile-customer-feedback-more-revenue-02080122/
Understanding the importance of customer feedback data helps a business to feel the pulse of consumer demand and acquire new customers. Data generated from proper market research and surveys help your business to remain a step ahead in the market.
https://www.agilitypr.com/pr-news/public-relations/5-benefits-customer-feedback-data-brand/
Most companies — even ones that have thoroughly gone digital — are “organized like the Roman Army.”
So says Olivier Padiou, COO of global digital agency Valtech. Padiou pointed to his own Paris-based company as a model of how an ancient military structure — top general, rows of soldiers in a descending hierarchy — can become something more appropriate to today’s environment, something like highly mobile Special Forces.
https://martechtoday.com/valtech-coo-business-transformation-means-agility-access-data-200504/
It’s safe to say that many small businesses today use just a few traditional measures to track business growth -- that is if they measure anything at all. Metrics like profit and loss, total sales, cash flow, gross margin and revenue growth rate are undoubtedly important. Today, however, these data points are no longer enough to compete effectively and establish a lasting business.
https://www.forbes.com/sites/forbesfinancecouncil/2017/12/14/small-businesses-its-time-to-go-deep-with-data/#4f0518ea33bf/
