Even with all the technological, innovative, and modern adaptations since the rise of the internet, one factor still reigns supreme for buyers and sellers — closing the feedback loop.
In fact, 70% of companies who consistently deliver best in class customer service use customer feedback to help inform and guide business decisions.
Customer satisfaction, word of mouth, referrals, testimonials, whatever you prefer to call it, feedback is an essential part of business. It’s key to building a business, strengthening a brand and engaging customers. In this week’s episode of PIMtalk, our host Thomas Sjöberg sits down with Magnus Burén, e-commerce manager at Menigo Foodservice and Jesper Gustafsson and Daniel Arrelid of Apptus Technologies AB to talk about the idea of a feedback loop and how to use it to improve business processes.
The group discusses how feedback plays a vital role in business strategy with suppliers, but also in better understanding customers, which impacts everything. Feedback delivers insights across all areas of the business including better logistical understanding of needs, as well as providing a better gauge on customer satisfaction.
If for no other reason, better insight into customer satisfaction should be the reason you make the case for closing the feedback loop in your business.
For more insights and information into how to use a feedback loop to drive better results in your business, listen to the full PIMtalk episode here.