No matter what type of business you’re in, you have to deal with customers.
They are, after all, the foundation of your business, without which you would have no business at all. Putting a heavy focus on customer needs will help you in many ways, one of which is to create strong customer advocacy.
According to Harvard Business School Press, just a 12% increase in customer advocacy can bring 200% growth in revenue for companies.
So how do you build up advocacy? How do you use it to its full potential?
Here are 10 ways to use customer advocacy in your business, Let’s go.
Customer Feedback Loop is the process of enhancement for your products and services based on the feedback customers give you.
It allows you to implement change according to what your customers have to say. This is one of the best ways to improve your company in an efficient and meaningful way.
And a Closed Feedback Loop is when you follow up with the customers and show them how their opinions impact your business decisions. Which, in turn, can mean more conversions and long-term sustainability for you.
But for many companies, the struggles lies in how to gather customer feedback? And moreover, how to translate the data into actions?
Here is a step-by-step guide on how to establish an effective Feedback Loop and how to manage negative customer feedback and close the feedback loop.