[INFOGRAPHIC] Customer Feedback Matters: Why Listening To Customer Is The Key To Business Success?

Business often struggle to understand their customer’s needs, endless meetings are held, scenarios are discussed, all in the quest to find that Holy Grail of business called the loyal customer.

This is a typical case of making a mountain out of a molehill. Customers aren’t mysterious entities which can’t be understood. If you want to know what they want, simply, ask them!

There are three basic things you need to understand in order to run a successful business:

• What the customers want
• When they want it
• How much they are willing to pay for it

Businesses which manage to hit this trifecta are ones that succeed. Customer feedback is easy to get in this constantly connected times. The customer of today is social media-savvy and expect companies to respond.

Fail at this and your customer won’t hesitate to switch over to a competing brand. According to a research by Nielsen, 68% of customers are categorized as brand switchers. It’s not just businesses who face the challenge of providing the ideal customer experience, customers themselves are eager to discover a brand which values feedback.

Brands must evaluate the efficiency of each of their customer touch points, from initial contact to retention. Ask for feedback from every customer and evaluate what they say. Pay attention to the complaints you receive, address them adequately, and make sure that the customer’s issues are solved.

Customers are eager to communicate their need and desires and often prefer to interact with brands directly. The consumers, especially the millennials, have embraced social media as a customer feedback tool and it is high time businesses (both B2B and B2C) do the same.

A seamless customer experience will help improve your reputation as a business. More satisfied customers means an increase in sales and revenues. According to the American Customer Satisfaction Index, customer experience has a strong correlation with revenue.

Check out the infographic for more eye-opening stats and useful facts:

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