“70% of the customer’s journey is based on how the customer feels they are being treated" (McKinsey). But how do you figure out how a customer feels after they’ve shopped with you? How do you gauge their satisfaction? You get feedback. 

Customer feedback is a vital tool for small businesses. It helps them connect with their customers, gain insight into what's working and what isn't, and identify areas where they can improve.

Customer feedback allows small businesses to learn about their audience and tailor their products and services to meet their needs.

This leads to higher levels of engagement, satisfaction, loyalty, and repeat purchases — all of which contribute to growth.

“According to Survey Monkey research, 85% of customers will like to give their feedback when their experience went good with the brand or company, and 81% will give feedback when their experience went bad”.

The Benefits of Great Customer Service

Higher NPS & CSAT Scores: 

Customer satisfaction surveys typically ask questions related to how likely a customer is to recommend a business based on their experience

Increased Sales: 

Happy customers are looking for ways to tell others about their experience with a company. They're more likely to buy from you again and recommend your business to others — which can lead to increased sales over time. According to Forbes, “companies that are customer-centric are 60% more profitable than companies that are not”.

Retained Customers: 

“89% of consumers are more likely to make another purchase after a positive customer service experience” (Salesforce Research). It's important to keep your existing customers happy so they continue doing business with you instead of leaving for other options. Furthermore, “68% of consumers say they are willing to pay more for products and services from a brand known to offer good customer service experiences” (HubSpot).

The Drawbacks of a Bad Customer Experience 

For all businesses, especially those just starting out, the impact of bad customer experience can be devastating. The loss of a single customer is more than just the loss of one sale; it’s the loss of an entire lifetime of revenue. 

The biggest drawback of a bad customer experience is the damage it does to your brand. Customers who have had poor experiences with your business are unlikely to recommend you or buy from you again. This means that they will not promote your brand through word-of-mouth marketing or online reviews and ratings. In a survey conducted by Khoros, “65% of customers said they have changed to a different brand because of a poor experience”. 

In addition to hurting your ability to attract new customers, negative reviews can also make existing customers leave for another company that offers better service. According to Zendesk, “after more than one bad experience, around 80% of consumers say they would rather do business with a competitor”.

Personal Touch is Very Powerful

“72% of companies believe they can use analytics reports to improve the customer experience” (Deloitte). Feedback analytics are an effective way to measure and improve customer experience. Every business can use data from customer feedback and surveys to drive profits and grow. 

Here's How:

1. Improve your customer experience with NPS surveys

2. Measure satisfaction with CSAT (Customer Satisfaction) surveys

3. Use NPS data to make strategic business decisions

retailcloud's platform allows business owners to directly engage with their customers by sending them surveys via email and text receipts. They can personalize their messages and prompt customers to give specific feedback.

Data on customers can be very beneficial to businesses and can help them in giving the customer exactly what they want with their products and services. “According to Genesys, 9 out of 10 customers give values to a company having knowledge of their previous purchase and preference”.

The Customer is the Most Important Part of Your Business

Customer feedback is a powerful tool that businesses should embrace to foster growth and success. By actively listening to customers, analyzing their feedback, and acting upon it, companies can drive positive change, improve customer satisfaction, and differentiate themselves from competitors. Remember, customer feedback is a continuous process, and businesses that prioritize it will not only survive but thrive in an increasingly customer-centric marketplace. So, listen, learn, and evolve to create remarkable experiences that leave a lasting impression on your customers.

With retailcloud, business owners can access customer data and feedback from anywhere. It has never been easier to view CSAT, NPS as well as customer preferences, and make informed business decisions.