Closing the loop with your customers
While a majority of companies gather some form of customer feedback, even today a surprising number do not 'close the loop' by communicating back to their customers.
It's a situation we've all found ourselves in. Having communicated to a company, we want action to follow.
It is not enough to gather feedback and take improvement actions, though many companies don't even go this far. As far as customers are concerned, you must also be understood and seen to be responding to both requested and unrequested customer feedback.
Even in large B2C organisations where individual responses may be impossible, your customers should still be kept in the loop about how the company is using customer feedback.
Your customers are not unreasonable but they want clarity on what they can and cannot expect from you. When expectations are raised by gathering feedback or promising a response that never happens, customers feel like they have wasted their time.
When 96% of dissatisfied customers will leave quietly rather than engage to resolve concerns, the true value of customer feedback is clear. To retain customers, reduce churn and achieve customer-centric business improvement that adds value to your company, a closed loop methodology is essential.
Happily, the more your customers understand feedback to be a real business priority, the more willing they will be to provide this most valuable of resources.
To read about the role of the CEO in driving this kind of operational change, please see our white paper - Transformational CX: The CEO's Role.