Why is customer feedback important?
Receiving customer feedback enables a company to correct any issues or concerns customers may have with the company’s products and its services. When customers provide feedback, a company is able to save money, time and improve relationships with customers.SignificanceA dissatisfied customer may tell five or six other people about his bad experience, which could harm your company’s reputation and have an effect on market share and profits. Feedback allows you to correct these problems.ConsiderationsSome customers will not tell you they are unhappy with your product or service; they will just stop doing business with you. A situation such as this can be avoided when feedback is requested.Prevention/SolutionFeedback allows you to correct product deficiencies and inefficiencies. A defective product could cause an injury and lead to a lawsuit. Class action lawsuits can cost a company millions of dollars.BenefitsWhen you receive feedback from customers, it can help management make decisions
