How To Turn Customers’ Feedback Into Actions


Saikiran Chandha, CEO & Founder of Typeset — the world’s all-in-one research authoring and publishing platform.

“Dear Customers, I’m all ears!” This assertion shouldn’t just be a prompt pop-up from an AI chatbot. Instead, it deserves solemn consideration since the feedback of your valuable customers has the potential to either reign or ruin your million-dollar business. The conversion of feedback into action is a propulsive opportunity to communicate to your customer how important they are by rendering them significant upshots.

To build the best version of your product and ensure it goes alongside your customers, you first have to outline your goals, evaluate the market in your niche, release your product and conduct feedback surveys. Consequently, accumulate and analyze the feedback to examine whether or not the products are making prolific noise in the current market, create an action plan based on feedback, act and reiterate it.

Customer feedback is the central dogma to validate the usability of your products. But the plot twist is the method you adhere to collect the feedback and turn it into a structured and focussed action plan corresponding to customers’ pain points.

The Rootlets Of Feedback Collection

Typically, you can follow either a direct approach or an indirect approach.

• Direct approach: This is when the customers share their feedback directly with you via customer support, feedback survey forms, online polls and so on.

• Indirect approach: This is when the customers share their feedback with others or publicly, even when your company does not voluntarily approach them. It can include social listening, website reviews, social media comments, reviews, etc.

So, curating feedback data from both sources and bifurcating them into labeled categories (different issues) is an excellent way to comprehend your customers’ needs and pain areas associated with the product/service. That being said, this acts as the precursor of your action planning guide.

Although we often feel we have become proficient in gathering customer feedback, the shuffle is played well only when we successfully decipher the input into an effect. So, closing the feedback loop remains elusive most of the time, and it can be harnessed by devoting strategy, measurement and analysis, and implementation.

Closing The Feedback Loop And Converting It Into Action

It is evident that the “one plan fits all” model has decayed and has become the penalty card in the business match. So, you have to build a feedback chart by classifying the feedback and customizing the strategy based on the type of response. Before closing the feedback loop, sieving it based on the intensity and impact level is imperative.

Next, analyze the pain areas promptly and perform the next level of grading by further classification of the sourced data into an individual customer (the issue confined to a single person) and a group of customers (the issue impacting many). Once the filtered feedback chart is decked, discuss with other stakeholders in the organization, excavate strategies and start building an action plan in adherence to customer satisfaction as an end goal.

As part of an ideal action plan, you must:

• Respond instantaneously and promptly to your customers. It’s an opportunity when you notice an alarm bell from an unhappy customer. In fact, prompt responses can increase the customer retention rate and improve your brand’s reputation. A quicker response gives your customers a ray of hope to continue believing in your products. Consider what Elon Musk did recently on this Twitter thread.

• Weaponize your teams with customer support training, ticketing systems, toolkits and other inevitable resources to mitigate the issue.

• Build customer-specific initiatives, design standard methodology subjecting to initiatives and its delivery to the customers.

• Measure the impact of the delivered initiative and track your overall performance by holding the following elements into consideration: the problem area, prioritization of the problem area and its consideration, the number of customers impacted, the amount of value added to the customers, commercial feasibility, customer satisfaction rate and close the loop.

Employ quality time in perpetual monitoring on the closed-loop to prevent unsatisfied customers from becoming detractors and encourage neutral and happy customers to convert into organic promoters. Thus, an entrepreneurship lifecycle elapses from a customer experience program to a customer advocacy program.

Conclusion

Tugging on the feedback data and converting it into actionable insights helps you better understand what customer retention rate and revenue growth can do for your business in minting success and capital. But the eternal success mantra is being objective to feedback or enriching a welcoming attitude instead of being an overly joyed or overly worried business human with every feedback!

Remember, one positive or negative feedback shouldn’t affect your entrepreneur hustler mindset. Be open-minded to everything. Each feedback propels you a step closer to your goal.


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