A company faces important decisions based on customer feedback every day. Customer feedback dictates which direction a company decides to grow, or how to develop the product or service being sold and distributed. Wouldn’t it be easier to make these decisions, if the feedback you received from your customers were of the highest quality? In fact, customer feedback doesn’t just dictate a company’s growth, it also decides a company’s competitiveness.
Customer loyalty and repeat sales are incredibly important to every company. Statistics published by Next Up Asia found that the probability of selling something to new prospects is only about 5-20%, whilst the probability of selling something to an existing customer is 60-70%. Without quality customer feedback, a company cannot expect to maintain customer loyalty or receive repeat sales. Quality customer feedback ensures a company understands what its customers want in their product or service, and allows a company to make better decisions based on this quality customer feedback.
Quality customer feedback is essential for the growth and marketability of a product or service. We’ve put together the top 3 reasons why quality customer feedback is essential in maintaining loyal customers and ensuring repeat sales.
1. Acquires New Customers
By receiving quality customer feedback, companies can make better decisions to acquire new customers. Quality customer feedback allows a company to improve their product and service, thus providing the perfect opportunity for loyal customers to spread positive reviews by word-of-mouth feedback.
According to Forbes, 92% of consumers believe recommendations from friends and family over all other forms of marketing and feedback. On top of this, 64% of marketing executives believe that word-of-mouth marketing is the most effective form of marketing. Which is why it is so important to receive quality customer feedback and make better decisions based on this feedback, to ensure customers spread word-of-mouth feedback.
Jagohelps provide an easy strategy to communicate with customers using a simple system. This system allows companies to receive honest, accurate and quality feedback from customers and can be easily integrated into your marketing strategy.
2. Loyal Customers Provide Quality Customer Feedback
Feedback is essential for every company to make better decisions on where and how to improve. Loyal customers love their chosen brands and therefore wouldn’t hesitate to provide quality customer feedback, especially negative feedback as they want to see their favourite brands thrive and serve them better.
Jagocreated a technology that communicates directly with your loyal customers. Through this communication, companies are able to make better decisions to develop their product or service, through the quality customer feedback they receive from loyal customers.
3. Help Build Your Brand
It is six to seven times more expensive to acquire new customers than service loyal customers. To attract new customers a business must allocate a marketing budget to incentivise, educate and provide personalised services to ensure they become a new customer. By focusing on loyal customers to build your brand, new customers can be influenced by honest and positive word-of-mouth marketing. This influence from loyal customers substantially reduces the budget required to acquire new customers, as they are able to spread the love of your brand for free.
Jagoallows you to communicate with your loyal customersat the best time possible, directly after they have interacted with your company. This ensures that the feedback your company receives is of the highest quality and is honest, as it is at the forefront of the customer’s mind. This method of direct communication also allows your company to resolve any issues that may have arisen and turn a negative review into positive action.
Jagoprovides the perfect opportunity to make better decisions for your company based on quality customer service from your loyal customers. The direct communication Jago offers with your customers is priceless, allowing your company to thrive and gain a competitive advantage in your industry. Jago uses modern tried and tested methods to ensure an easy line of communication with your customers, making it easier and more likely that they will provide quality customer feedback. Contact Jago today and book a demo.