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Customer feedback loop is referred to a repetitive practice of gathering customer feedbacks and acting upon them to improve your product. In other words, customer feedback loop can also be called a constant process of product improvement based on what its users thinks about it. This loop is a form of “mutual causal interaction” where both the entities have mutual impact on each other.
When we say customer feedback, it doesn’t always mean complains and bad feedbacks about the product. Sometimes customers also leave a memorable experience with your product, the times when your product helped them through their issues and how efficiently it is working.
Hence there are going to be both positive as well as negative feedbacks. The tack lies in how you turn these customer feedbacks into revenue.
Closing a loop in customer feedback refers to when a problem faced by a customer is solved and the solution is being provided to the customer. Example: a customer complains to a brand about delivering a defective product. The company can close this loop by sending an apology and replacing the defective product and providing them with the new one.
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In this section we will lay out some solid points addressing the topic on why the customer feedback loop is so important in today’s market and why you need to follow the trend:
The three crucial stages in the customer feedback loop are mentioned and explained as follows:
Being obvious, to work on customer feedback is to first gather it. You can ask your customers to record their feedbacks using various methods like; live chat, social media, surveys, emails, etc.
Though the most commonly used method surveys. It allows you to scale out your topic into various questions. The questions can be open-ended or close-ended depending on what type of answers they will provide you. Example: if you want to just have a count of something you can go for close-ended questions and in case of descriptive and brief answers, you can go for open-ended questions. This allows the customers to have a large range of options to choose from and does not take much of their time.
The more detailed you want your feedback to be, the more specific and targeted your survey respondents should be.
Once you have your data, it is time to make sense out of it. What the data is telling you about the customers’ perceptions of you and your products. This data will talk through patterns, facts, conclusions and analysing those means you are trying to make the raw data into information.
Find what the customers are facing on a regular basis, what service betterments do they demand and what product upgrades do they wish for. Once you have this idea, it will be a 50% job done for you.
This is the important part of the feedback loop. To close the loop you have to make them according to changes in your products and services.
You can start with introducing customer feedbacks to your team members from various fields like the product development team, customer service team and marketing and sales team.
Make sure you practice referring to the customer feedback as regularly as possible, daily, weekly, and monthly and so on. The more frequently you choose to keep up with the customer complaints, the more loops you get to close.