Your business will make more money if your customers are happier. But how do you keep your customers happy? How do you even know what your customers like or dislike about your product?
Asking for customer feedback can provide extremely valuable insight for your business and products. After every one of my company's events for entrepreneurs, we send out a short survey to the folks who came asking for their feedback on the event. A few days later, we review the feedback, both positive and negative.
This feedback directly influences what changes we make for the next event, what aspects we want to highlight more, and what parts need to stay exactly the same. This feedback is invaluable to us, and it doesn’t cost us anything to get.
Based on the insights we’ve gained through our surveys, here are three reasons you should ask for customer feedback.
- Learn what your customers like and don’t like. When you ask your customers to give you feedback on your product and or service, you’re going to learn what they like and don’t like about it. This information is extremely useful. If you know what’s working for your customers and what isn’t, you can tweak things to better serve your customers. For example, we’ve learned consistently that people love the intimate atmosphere at our events. But after one event, we learned that people felt the lobby for networking was too small and uncomfortable. We fixed that by choosing a venue for the next event with a much bigger area for networking, and our attendees liked that.
- Make customers feel important and involved. By asking for your customers to provide you with feedback, you’re communicating that you value their opinion, and you care about what they have to say. Your customers feel important because you’re treating them as such and they feel involved in shaping your product.
- Constantly improve. You can consistently improve your products or services, and keep them being the best they can be. If you’re consistently listening and seeking feedback, you always have a pulse on what’s working for your customers and what’s not. Ultimately, this will lead to better business, better sales, and a better customer experience (which starts the loop all over again!).
There’s a lot to be gained from getting customer feedback and absolutely nothing to lose. All you have to do is ask!
How has customer feedback helped you build your business?
Tim Jahn is the co-founder of Entrepreneurs Unpluggd, a website and intimate event series that helps entrepreneurs build their startups. As an active member of the Chicago tech community, Tim has made his mark interviewing hundreds of entrepreneurs from all over the world. He is also a contributor to Tech Cocktail, Crain’s Chicago Business, and was previously a director of Ignite Chicago.
The Young Entrepreneur Council (YEC) is an invite-only nonprofit organization comprised of the world's most promising young entrepreneurs. The YEC promotes entrepreneurship as a solution to unemployment and underemployment and provides entrepreneurs with access to tools, mentorship, and resources that support each stage of their business’s development and growth.