Leveraging Customer Feedback for Business Growth

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Handling customer feedback like a pro is key to making your business thrive.

Knowing what your customers say or even think about your brand or business is a goldmine of information. Who doesn’t love hearing compliments? But more than the praises, it’s also about taking constructive criticism to heart and using it to make things better. It’s all about creating a delightful customer experience

Customer feedback tells you what’s working and what needs tweaking, so you can keep improving your products, services, and how you treat your customers. When you show you’re listening and willing to evolve, you build trust and loyalty. That’s how you keep growing stronger.

Making your small business digital ready is a must these days. The rise of digital technology, social media, and AI leaves most businesses no excuse not to stay in touch with their clients. According to SproutSocial, for 63% of consumers, the quality of customer service they provide on social media plays a big factor in their loyalty. As for the timeframe, almost 70% consider a 24-hour window as an acceptable response time, with 76% of them valuing how quickly a brand can respond to their needs. 

So, what does a founder need to do to handle customer feedback effectively? 

🤔 Put Your Ego Aside

First things first; you need to set your ego aside. It’s easy to get defensive when someone critiques your product or service (we totally get it), but remember, feedback is a golden opportunity for growth. Embracing it means opening the door to continuous improvement and happier customers.

🤔 Actively Seek Feedback

Don’t just wait for feedback to come your way – go out and get it! Surveys, polls, and direct interactions are just some of the ways you can gather insights. This shows your customers that you value their opinions and are serious about making things better for them.

🤔 Stay Professional with Negative Feedback

Negative feedback can be tough to swallow, but this is where staying professional is crucial. A bad review doesn’t necessarily mean you’ve failed. It could just mean that person wasn’t your target audience, or it might highlight something you need to improve on. Use this feedback to tweak your processes, enhance the user experience, or adjust your offerings.

🤔 Leverage AI Support

AI can be a huge help in managing and analyzing customer feedback. Companies like IBM have developed AI tools that can sift through mountains of data to spot trends and common issues. These insights can be invaluable because customers want action and answers – not just to chat. But remember, it’s all about balance, which brings us to our next step…

🤔 Maintain Human Connection

Even with the rise of AI, human connection is still vital. People appreciate it when their concerns are addressed by a real person who can empathize and offer a personalized response. As more people seek offline experiences, keeping that human touch is crucial.

🤔 Find a Balance

Yes, digital feedback channels and AI tools are important, but it’s all about finding the right balance. Use AI to streamline processes and gather data, but make sure human interaction is front and center. This approach helps you handle feedback in a comprehensive and empathetic way.

When you’ve mastered these elements, you can even come up with your own twists to make this part of your customer journey uniquely yours. Encouraging brand loyalty helps keep the cost of customer acquisition down and can even turn your customers into your very own influencer army.

Looking for more insights on how to turn those customer feedback into a powerful driver of growth and success? Book a mentor session today and get the guidance to ramp up your entrepreneurial journey. Our Selfmade mentors are more than happy to help. 

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June 25, 2024

Emily Oberman