Why managing customer feedback is so important

- Managing customer feedback effectively…is more important than ever.…Let's identify four key reasons why,…then I'd like to make a suggestion…on how to get the rest of your organization on board.…One reason managing customer feedback is important…is word of mouth.…Customer expectations evolve by the day,…and it's so easy for customers to tell others…about the experiences that they have.…Negative experiences harm your brand…and can drive customers away.…

But if you're listening…and acting on what you learn,…customers will share their positive experience,…and this is like having a huge external…sales force working on your behalf.…Companies that stand out in competitive markets,…such as Trader Joe's in groceries…and Chewy.com in pet supplies,…see up to 70% of new customers…come in through referrals.…Another reason that managing…customer feedback is so important…is because of what some call the iceberg effect.…

In his book Customer Experience 3.0,…John Goodman summarizes the research.…Many companies only hear…from a small percent of customers who encounter problems,…