Customer Feedback - Valuable Insights for Business Success

Published by MBA Skool Team, Published on July 30, 2014

Companies put in a lot of effort in making products and services useful for the customer. Lot of new services are added, product innovation is carried out, marketing and advertising exercises are undertaken etc. All these are done in order to ensure that a customer has a good utility of the product and avails the maximum of a service so that he can spread a positive word of mouth about the service along with being a retained customer. But no matter how many efforts are taken by companies, they need to constantly study, understand, monitor and adjust according to customer needs and requirements. And this is where an important activity of understanding customer insights and psychology can be used i.e. customer feedback.

Customer feedback is a mechanism where a company or a brand asks its customers to evaluate its products and services on certain parameters which can help the company improve its offerings. Customer feedbacks can be done by simple questionnaires, surveys, interactions etc. Some of the key highlights where a customer’s feedback can be valuable are shared below:

Image Courtesy:, Stuart Miles

1. Better insights about products-

A customer who has used a product or service can give the best feedback about his or her experience. For every company, their brand and offerings are the best according to them. But ultimately it is the perception of the customer that matters. Customers can give a critical feedback about using a certain product or service which can help them improve further or help them in better positioning of their brand.

2. Improvement in service-

The biggest mantra of success is treating your customer’s feedback on the highest priority. Customer feedback can help in improvement of services and products by their own experiences. For e.g. if a customer who has travelled the world, gives a constructive feedback about good services offered in some other hotel, it should be taken seriously so that it can be replicated and implemented for a more grand experience.

3. Highlighting critical areas-

A customer’s word of mouth is a huge tidal wave of influence. If a customer is happy, he will prosper the brands name. But an unhappy customer can be devastating to a brand. Customers often highlight the weaknesses of products and services. One off cases of customer dissatisfaction can be real but customers highlighting certain critical areas and nuisances time and again is a warning sign. Hence customers clearly pin point the distress areas and these complaints should be adhered to on highest priority.

4. Understanding customer needs-

Customer feedback opens up the mind and heart and psychology of a customer. It is the best way of studying a customer’s mind, requirements, needs and behaviour. The more a company takes efforts to understand its brand, the more are the possibilities of a brand to leave a positive mark in the heart of the customer.

5. Addressing complaints on priority-

Customer feedback is an activity not only to improve the existing processes but it the most important source of listening to urgent complaints. For e.g. if a customer calls a telecom operator and complains that he or she haven't received their balance on recharge, then these complains need to be taken on highest priority as the error in the system might have affected thousands of other customers as well. And if these complaints are left unheard, a customer can easily switch to any other competition brand.

Customers are the ones who define the success or failure of any product brand or a service company. A happy customer will always attract more business and a disappointed customer will ensure that his close ones avoid any inconveniences. Hence, it is utmost important that companies appreciate customer feedback and accordingly give a grand offering to customers.

The articles in this section have been submitted by our Authors. They have been reviewed & uploaded by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

If you are interested in writing articles for us, Submit Here

Share this Page on:
Facebook ShareTweetShare on Linkedin