Here's Why a Customer Feedback Program is Essential to a Business

Executives are aware that customers have more power today than ever before, due in part to social media platforms, increased competition and web-based ratings. Consumers post positive and negative feedback online that can affect businesses, but many organizations don't act on it because they don't have a strategic program in place to gather, analyze and act upon the data. Businesses that implement and support a customer feedback program can capture, analyze and act on customer feedback, helping to avoid a potential business catastrophe or accelerate a boost in revenue. Today, two-thirds of companies gather customer feedback and 43.6% use customer health scores to continuously monitor changes, according to Nemertes' 2019-20 Intelligent Customer Engagement research study of 518 companies. And though about half make changes regularly based on that feedback, 45.7% make changes periodically and feel they could do more. Another 3.1% of those that gather customer feedback do not do anything with the relevant data.