Customer Feedback Management Customer Feedback

Customer Feedback Management

SHARE THE ARTICLE ON

Table of Contents

What is Customer Feedback Management?

Customer feedback management (CFM) refers to the process of gathering customer feedback and leveraging it to make better-informed business decisions that are customer-centric. It involves integrating customer feedback from every channel to extract insights that can be implemented to improve products, services, and business operations. 

CFM programs shift the focus from damage control to damage prevention. When used correctly, CFM programs help organizations keep up with changing preferences and customer pain points before they manifest into larger issues that have a negative impact on sales.

Download Market Research Toolkit

Get market research trends guide, Online Surveys guide, Agile Market Research Guide & 5 Market research Template

Making the most of your B2B market research in 2021 PDF 3 s 1.png

Types of Customer Feedback

Customer Feedback Management Customer Feedback

We can categorize customer feedback into the following groups:

  1. Usability Issues: These are issues that have to do with the interface of your online platforms such as site architecture, processes, or any other elements that cause difficulties or confusion. Such feedback can be leveraged to drive product development and make architectural changes on your website. 
  2. Filed Complaints: Filed complaints refer to the user opinions that take the form of a formal standpoint and are therefore subject to legal terms. 
  3. Opinions: Opinions are the most common type of feedback. They refer to reviews of your products/services on your pages (website, app store, social media, etc).
  4. Bug-Related Feedback: Bug-related feedback is regarding technical fixes that customers have noticed and want you to fix.
  5. Walkthrough: When customers require more knowledge or guidance to understand your products or services, they may ask for a walkthrough or guide. This is an opportunity to create FAQs pages, informative articles, or even tutorial videos to provide customers with a sufficient amount of information on the product. 

Customer Feedback Management Process

Customer Feedback Management Customer Feedback

To simplify the process of CFM, we’ve broken it down into three main steps:

  • Step 1: Gather Customer Feedback

The first step of implementing CFM is to gather customer feedback consistently. This will provide you with an ongoing flow of real-time feedback from customers that can be used whenever any decisions need to be made. 

There are many different ways in which you can gather customer data, whether it is through website reviews, email surveys, online polls, etc. Regardless of the method used, it is important that customers feel heard at every stage of their journey and are made aware that their feedback matters. Open-ended questions are useful to acquire information regarding customers’ true opinions. 

  • Step 2: Incorporate Feedback into the Organization

The next step involves analysing the data collected to identify any pain points and areas that require improvement. An omnichannel survey platform, such as Voxco’s Survey Solution, is an invaluable tool that will allow you to gather, analyse, and interpret customer feedback effectively. 

  • Step 3: Measure and Monitor Business Outcomes

CFM is a long-term process. You must continue to consistently gather customer feedback and monitor important metrics such as NPS and customer churn. When executed well, the CFM process provides organizations with a thorough understanding of what their customers want. By consistently tracking feedback, grievances and pain points can be quickly identified and eliminated before they manifest into larger issues. 

See Voxco survey software in action with a Free demo.

Advantages of Customer Feedback Management

The following are a few advantages organizations can enjoy by incorporating CFM into their operations:

  • Improved Products and Services: CFM provides businesses with information regarding what is and what isn’t working in regard to their products and operations. It helps identify avenues for growth and improvement when creating products and services. 
  • Keeps a Tab on Satisfaction Levels: CFM processes rely on the consistent gathering of customer feedback. This also helps businesses keep track of customer satisfaction levels which are crucial in tracking customer churn. 
  • Boosts Customer Experience (CX): Customer experience is a huge influencer when customers make purchasing decisions. CFM keeps track of customer opinions so that every decision made is customer-centric and helps enhance the customer experience.
  • Reduces Customer Attrition: CFM helps you understand what customers like and dislike about your business. This allows you to expand on the good and minimize/eliminate the bad, increasing customer loyalty and reducing attrition. 

 

FAQs on Customer Feedback Management

Customer feedback management, or CFM, refers to the process of gathering customer feedback to identify actionable insights within suggestions and complaints, and boost customer experience (CX) and business growth.

CFM improves decision making, boosts customer experience, improves products and services, and keeps a tab on customer satisfaction levels. 

 Some of the different kinds of customer feedback are;

  • Bug-related issues
  • Opinions
  • Filed complaints
  • Usability issues
  • Walkthroughs

Explore all the survey question types
possible on Voxco

Read more

All you need to know about Customer Journey Management 02 1 2 2 1

Exploratory Research

Exploratory Research Voxco's Guide to Exploratory Research Conducting exploratory research seems tricky but an effective guide can help. Download our guide to ...

Customer Experience Trends to Watch out For in 2021 05 1 1 2 2 1 1

NPS Survey Template

15 Questions to use in your NPS Survey Template Maximize NPS Insights Unlock insights to drive growth, improve customer engagement and gather detailed customer ...

Shopping Basket
Great Research
Fast Insights
Best-in-class ROI

Voxco’s platform helps you gather omnichannel feedback, measure sentiment, uncover insights and act on them.

Join 500 + global clients across 40+ countries

Great Research
Fast Insights
Best-in-class ROI

Voxco’s platform helps you gather omnichannel feedback, measure sentiment, uncover insights and act on them.

Join 500 + global clients across 40+ countries