Constant Feedback

24 March 2014

The smartphone revolution alone is having an enormous impact on the supply and purchase of products and services. Today some 60% of the New Zealand population are using smartphones, enabling customers to instantly price compare, rendering almost obsolete the concept of customer loyalty.

How do you deal with the enormous changes taking place? One very important mechanism is to elicit customer feedback. Encourage reverse engagement from existing and new customers. How should you go about achieving this? There are two methods. You need to be continually checking current procedures and standards are being met and you are delivering on the brand promise (an audit). Measuring set KPI’s.  And the other is to receive regular and consistent ‘innovation’ feedback from customers. The latter is probably the most fundamental and important of all and not simply general feedback, but feedback on ideas, suggestions, what’s working for your customers and what is not. You need to focus on ‘long term’ wins and building your business for the future. If you simply look over the bonnet of the car with short term pricing or strategies in mind, you are not going to get very far. However, looking to build for the future through constant incremental improvements, realignment of internal structures and a collaboration with you customers, will see you grow and prosper.

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