The Feedback Loop definition is: the strategy that allows you to implement a constant product improvement workflow driven by the customers’ opinions and suggestions. It is considered as one of the most effective ways to enhance your offer in accordance with your customers’ satisfaction.
The strongest aspect of the feedback loop is that it enables you to continuously make changes to your products and services in order to boost your value proposition and adapt it to the clients’ needs. Thus, as time goes on, you will be able to see your progress and its impact on your company’s growth. In a nutshell, a feedback loop is a never-ending cycle of improvements.
This follows the same logic as Eric Ries’ method called “The Lean Startup”. This revolutionary approach makes it possible to constantly adapt its offer but also its business to market developments, following the principle of continuous innovation.
In fact, leading companies (Salesforce, CocaCola, Walmart, Decathlon, Amazon…) became what they are today because they are obsessed with their customers. These brands listen to their customers on a daily basis, take advantage of data, technologies, and create a seamless experience that provides both great service and support. All of that allows them to offer personalized experiences, amazing perks, and quality products over time.
Want to follow these companies’ steps? Start with feedback, create a feedback loop with the next four steps.
Know your customers by listening carefully
The first step in creating a feedback loop is to know who you are actually dealing with. Who are your customers? What needs do they have? and what are they interested in? It is crucial to listen to them at the right moments (after support, before purchase, sales completed…). Hopefully, today, there are various and numerous ways to do that:
- Build out your buyer personas
- Do market research
- Listen to them on social media and review platforms
- Analyze the content they are engaging with
- Create and send out Feedback forms
Nonetheless, the feedback forms can be considered the most effective tool in our case, as they can be targeted to specific customer segments which makes the collected data more relevant and detailed. Compared to market research, not only do feedback forms deliver higher response rates but they also let you engage with your customers and create loyalty.
Measure customer satisfaction
The best way to measure your customers’ satisfaction is to ask them directly. That’s where feedback forms join the party. However, it is important to use an innovative platform that allows you to create engaging and gamified forms in order to get the respondent’s attention and not to make them bored; which is the issue with most survey tools nowadays.
How often do you hear people saying “Yes, I just replied to a survey, it was amazing!!” – Never ever. So, make sure to use an engaging feedback management platform like Feedier to provide a great experience.
The first section of the feedback form should be satisfaction ratings. In other words, the customer will be able to rate different aspects of your product or service. Here are some examples:
- Value for money
- The overall experience
Make sure not to use more than 6 ratings as they are what your participants will see first. This step should be quick and concise, less words mean a better gut reaction.
Get quality data-insights
The form’s most important part is the Questions as they allow you to get valuable insights and precise ideas on what worked well and what didn’t exactly blow the customers’ minds.
Want to make your form fun and engaging? Here are some advice to you:
- Use logical conditions to ask the right question to the right participant.
- Use different types of questions: NPS, Yes/No questions, Image questions and avoid the text ones as much as possible.
Whenever the participant has to type, data is harder to analyze and the completion rate goes down.
- Limit to a maximum of 10 questions.
- Use GIFs and nice descriptions to make the questions interactive and clear
Here are some questions examples that you can use:
- How long have you been our customer?
- How likely are you to purchase from us again?
- What made you choose us over one of our competitors?
- How likely is it that you would recommend our company to a friend or colleague?
Now that you collected the data, it has to be analyzed. This step will give you a clear idea about your strengths and your weaknesses. But also, results analysis will help you answer the basic questions about how and what should you improve.
The main goal here is to see your quality and your service going up following this never-ending cycle: progress.
- Tip #1 – Use text questions as less as possible because they are hard to visualize and drop your completion rate. Prefer options, smileys, and ratings question types that can be easily visualized with graphics.
- Tip #2 – Always pay attention to the context (date, product version, country…), it brings key information and makes data a lot more reliable.
- Tip #3 – Benchmark your responses and satisfaction internally according to the context (US vs Europe or Product A vs Product B) and externally with common questions like NPS questions that can be compared to competitors.
It is important to use a platform that allows you to dig deeper into the collected data by providing you with detailed statistics and charts. For example, Feedier comes with extended reporting tools including pie charts, bar graphs, advanced filters, tags, keyword managers, and Excel exports for your team.
You can also get a complete summary report of all your collected data in one single PDF that you can generate per department, form, time period, user…
This will help you identify recurring issues and list them by frequency and importance to your company’s strategy. Then, put your finger on the issues you identified, and draw conclusions on how to fix them. That’s why feedback important, now you have the data you need to focus on making decisions that will drive your team and company forward.
With all these reports, charts, and statistics, it’s time for conclusions. You are now able to apply the improvements to your product or service with your team. Start with the most critical issue and then move to the small ones.
As teamwork is essential, it is important that you share the data report with all of your team members. On the one hand, this will allow you to work on all the aspects of your product and service like marketing, sales, design, etc.
On the other hand, it is a way to boost collaboration and communication with the team members. With a platform like Feedier, you can Collaborate with smart-notifications, data benchmarking, comments, and ownership. Group forms, responses, and users in secure organized groups that match your operational structure.
- Tip #1 – Export your responses as PDF reports or slides that can be easily shared with other teams.
- Tip #2 – Detect unhappy customers and alert the right person (in your support team) to take action. If automated, you will save a great amount of time.
- Tip #3 – Tag answers and group them by improvements, new features, issues, suggestions… These listings will be helpful for your product teams and can be exported to tools like Trello, Monday.com, Jira…
Also, don’t forget to inform your customers about the changes applied to the product and the upcoming updates. It’s very important that the customers know that their feedback was taken into consideration. This will enhance their attachment to your company which will boost their loyalty.
You think you’re done? not so fast!
Since the goal of creating a feedback loop is a never-ending cycle of improvements, repetition is crucial. Once the problems are fixed, it’s time to send out another feedback form. However, the customers will not be very impressed if you send the same one over and over again.
That’s why it’s important that you improve your form following the data collected from the previous one. The improvement can also be design-wise. Using a platform like Feedier will allow you to change the colors, the background, and the type of gamification used for the questions.
- Tip #1 – Try out different channels to share your form. It’s good to use one channel but it’s better to combine multiple ones, like an email campaign, an SMS campaign, widget and embedding, QR code generator
- Tip #2 – Use GIFs and emojis to make the questions fun and interactive
- Tip #3 – Customize the form as much as possible by adding your company’s logo and enabling white labeling so it will be 100% your own!
Creating a Customer Feedback Loop allows you to provide better products and experiences. Knowing exactly what your customers expect, gives you an advantage over the competition.
The feedback loop is also is a key step in the customer engagement process. Without this loop in place, you’re essentially neglecting customer retention. And that’s exactly what your competitors are hoping for.