Increasing profits through customer feedback surveys. VRIO framework

Increasing profits through customer feedback surveys.

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Brands tend to conduct customer feedback surveys throughout the product development phases. The aim is to keep track of how the customer is feeling about the product from the moment is it decided to be developed to the phase when it is deployed in the market. This practice doesn’t seem so absurd when you realise that your customer satisfaction is your biggest investment. 

In this another ‘how to’ article from us, we describe the factors where you need to pay attention to while conducting customer feedback surveys to directly increase your profits. 

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  • Choosing your audience

When we say ‘customer feedback, we don’t think about surveying every single one of the customers. It is not only close to impossible to get every customer’s feedback, but it is a waste of time and cost. 

Rather, design out how many people you want to choose and create a sample of the population. This sample should be representative of the entire customer base. Apart from that, it is vital to include your target audience in your surveys too. 

Let’s say you have introduced a new product in the market. You will only survey those who have bought the product.

  • Frequency of the surveys

It is important to take your customers’ opinions and views into account whenever and wherever it is necessary. Along with that, look out for the constant interrupting them. This will make them sick of the surveys and might frustrate them. 

A good time to ask customers for their feedback is 24hrs after they have interacted with the company. If it is regarding product feedback, wait for at least 3-4 business days for them to get to know the product entirely. 

Explore all the survey question types
possible on Voxco

Explore all the survey question types possible on Voxco

 

  • Awareness 

Let your customers know that you have understood the improvements and are going to take the necessary measures to resolve them. 

Customers like the sense of usefulness to the brand and that they are helping to build improvements. Be open with them regarding your efforts on enhancing customer satisfaction. 

When you make the customers feel valued and considerate regarding development, they tend to interact more with the surveys from the brand.

  • Incentives 

While you might have come across the idea of including survey incentives with the customer feedback. It is generally not advised. 

This might make the customer give positive feedback because they think doing otherwise would affect the incentives. 

Businesses should always look out for the negative surveys than the positive ones because that is the area that has the potential to make affirmative changes in the business. 

  • Channelling the survey

There are various ways you can distribute your surveys to the customers. It can be through an email or e-newsletter. You can also slide the survey at the end of an online transaction of order. 

Adding the survey on your websites or highlighting it on the receipts will also catch the customers’ eye. 

Social media surveys are really common and highly interacted will in modern times. Facebook. Twitter, Instagram, LinkedIn have large public traffic. Channelling the survey through those platforms have more chances of getting customer attention. 

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