ICT in Business

From ‘Data’ to ‘Information’

In our previous post, Customer Feedback and Business Productivity, we discussed about what customer feedback means and its relationship with business productivity. It’s also important to know that ” For every customer who bothers to complain, 26 other customers remain silent.” – this is a fact.

In this post, we’ll share 3 important purposes of customer feedback and how you can achieve them.

Your customer feedback has not yet been effective and instrumental to your business growth because you do not know what you want from it. You read a blog post like the one we shared previously and decide to start having feedback from your customers. What you fail to understand is the ‘why’ behind the ‘what’. Why do you need to start having feedback. What do you want to achieve and why?

Customer feedback that aims at nothing but just to fulfill all righteousness are almost never effective or have any end game to them. You just have a bunch of customer feedback data but no information from them.

Be specific as to what you want to achieve with your customer feedback and you’ll see them be very effective in improving your business productivity.

So, these are three important purposes for acquiring customer feedback:

1. Customer Demand (What Nkem wants!)

I think this is the root of all evil in every relationship. Not finding out what the next person wants! A mother, with all the undying love she has for her child can destroy her relationship with the child because she has failed to discover ‘What the child wants!’ but will rather act on what she, the mother wants all the time.

If a mother / child relationship can be destroyed by not applying this principle, how much more your relationship with Nkem? In case you’re new to the blog and you’re wondering ‘Who Nkem is’, lol, rightly so. Please read our blog on ‘Who’s Your Nkem‘.

What does Nkem want?

As a business, it is vital to know, for your business productivity, what Nkem wants. You can not keep making products that nobody wants all because it’s been a brand product. The world changes, and so do consumers.

10 years ago, everybody wanted a pair of baggie jeans, a product which saw brand names like FUBU, Sean Jean and some other well known brands thrive in; but now, most of these brands aren’t as popular as they used to be. Why? Because they refused to give Nkem what she wanted. They insisted on what their brand produces and not what Nkem wants.

Questions to ask to know what Nkem wants

Knowing what Nkem wants goes a lot deeper than asking a few questions of course, but customer feedback questions can be a good input also. Read our posts on Customer Loyalty to learn about Nkem’s love language.

So, one easy way of getting Nkem to tell you what she wants and you want to know is by:

  1. Observing market trends in your respective businesses
  2. Asking Nkem what she thinks of these trends you’ve observed and how likely is she to follow them.

Trends are usually incremental, very rarely would you see revolutionary or disruptive trends in a single market, so this is feasible and would help you know which product or service changes your business needs to make for Nkem.

2. Business Improvement (Find out your strengths and weaknesses)

There’s nothing more satisfying than growth and improvement in a business. When a business isn’t growing, the one with the vision begins to get frustrated. Improvement, no matter how small it is, is really valued in our everyday life.

Finding out our strengths and weaknesses can really help in our endeavors to improve our business.

We all know the famous SWOT analysis, well, that’s one way to find out your strengths and weaknesses -more from an internal perspective though. Whereas, using customer feedback gives you an external perspective of your strengths and weaknesses.

Questions to ask Nkem to find out your strengths and weaknesses

  1. Do a SWOT analysis to find out your strengths and weaknesses from an internal perspective.
  2. Confirm from Nkem your strengths and weaknesses through probably multiple choice questionnaires.

By doing an internal SWOT analysis first, you’ll be more specific in the questions you ask Nkem. Doctors know there’s probably something wrong when you come to them but why do they still ask you ‘how you feel?’ That’s your SWOT analysis. They want an internal perspective, first, on your strengths and weaknesses before they give you their external perspective in the form of a feedback. So yes, you need a SWOT analysis to get the best out of this customer feedback purpose.

Let the feedback you get from Nkem be more of a confirmation of what you already knew; and of course this does not rule out the fact that you might discover new ‘revelatory’ knowledge in this process about your strengths and weaknesses.

3. Lean Decision Making (Make Data driven decisions)

Lean! Lean! Lean! We love that word Lean at Ya’ats Advisory Services.

To be lean, in business terms, is to reduce waste basically.

So what kind of customer feedback would you need to help your business reduce all kinds of waste?

The feedback mechanism here is a bit different from the first two discussed.

While the first two feedback mechanisms might entail using questionnaires and / or other mechanisms that give you a direct form of contact with Nkem; this is quite different.

You can get feedback from Nkem for the purpose of making ‘Lean’ decisions through your customer transaction data.

I use the word customer here for both your downstream and upstream customers, so both those who supply you and those whom you supply.

Your customer transaction data is a gateway to endless possibilities of many, many business improvements, lean decision making inclusive.

To achieve this you might need to know a bit of data analysis and what not. Read up on it on the web or read our post on Customer Profiling to get a brief knowledge on what data mining and analysis means.

So, there you have it! 3 important purposes of customer feedback and how you can acquire the feedback to make them effective.

I hope you’ve gained new knowledge and / or understanding in the subject of customer feedback.

As always, if you still have any more questions regarding today’s discussion or any other ICT in Business topics, please contact us.

We are Ya’ats Advisory Services and we’re here to bring customer satisfaction your way.

You can visit our website for more information about us.

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