How to turn customer feedback into profitable growth

Published on: 12/12/2017

The most successful companies today are those effectively using customer feedback for profitable growth; but how do they do it?

The secret lies in the company's desire and ability to develop customer loyalty.

Loyalty is more than satisfaction.  With up to 80% of defectors previously saying they were satisfied*, customer satisfaction as a single measure is not sufficient.

Loyalty leads to profitable growth as loyal customers:

  1. Come back for more
  2. Try additional products
  3. Recommend others
  4. Give honest feedback

We can develop loyalty by acting on customer feedback to address the root causes of dissatisfaction and protect the things customers truly value.

*Bain and Co

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