How to Get Customer Feedback & Analyze it?

Assume yourself a product manager in a multinational company, and your team just launched a new product.

You conducted your market research, polished the features, and even got a pat from your boss. You are feeling good about it. After all, you worked diligently for weeks to make it happen.

But then, the unthinkable happens. A customer leaves a review. It starts with “I hate to be that person, but…” and proceeds to criticize your new feature. To add salt to injury, you start receiving negative feedback from other customers.

Your heart sinks, and you’re left wondering – what went wrong?

Don’t worry, though, because the key to success is not in avoiding negative feedback altogether. It’s in knowing how to get customer feedback and use it to improve your product.

How?

Let’s explore some witty and effective ways to get customer feedback. It doesn’t matter whether they love or hate your product; their feedback is worthwhile.

But first, let’s see what you will learn in this blog.

Table of Content:

1. What is Customer Feedback?
2. Why is Customer Feedback Important?
3. Reasons to Ask Your Customers for Feedback
4. What are the Most Effective Customer Feedback Methods, and How to Use Them?
5. How to Analyze Your Customer’s Feedback Data?
6. Wrap Up

What is Customer Feedback?

Customer feedback is the lifeblood of any business seeking long-lasting customer relationships. It is your customers’ voice, thoughts, opinions, and experiences with your products or services. It provides insights into your customers’ likes, dislikes, and expectations.

Surveys, reviews, comments on social media, and customer interviews are some ways customers can provide feedback. This feedback sparks innovation, helps to improve customer satisfaction, and, ultimately, fuel business growth.

Why is Customer Feedback Important?

• Identify Areas for Improvement

Listening to customers can provide valuable insights into the strengths and weaknesses of your products or services. This can help identify areas necessitating improvements, whether it’s a specific feature or the overall customer experience. Consequently, you can increase customer satisfaction, loyalty, and retention by addressing these areas.

• Increase Revenue

Listening to customer feedback can help you identify areas where customers find value. Then invest in those areas to attract more customers. Also, happy customers are more likely to recommend your business to others. This leads to a larger customer base and increased revenue.

• Build Customer Trust

When customers provide feedback, they share sincere opinions and experiences. You can demonstrate your dedication to providing the best customer experience possible by actively soliciting customer feedback. This can aid in establishing a positive brand reputation and boosting customer loyalty.

Reasons to Ask Your Customers for Feedback

• To Understand Your Customers

Customer feedback can provide valuable insight into the aspects of your products or services that consumers appreciate. You can customize your products and services to meet customers’ needs, wants, and preferences. This can increase customer retention and loyalty and attract new ones.

• To Improve Your Products or Services

By collecting customer feedback, you can identify areas you need to improve. Consequently, make necessary changes to meet customer needs and expectations. You can optimize your offerings, improve customer service, or even make changes to the business model.

• To Build Customer Loyalty

Listening to and addressing customer issues can help improve customer satisfaction, which is essential for building loyalty. This can lead to higher customer retention rates and increased revenue.

• To Attract New Customers

By listening to existing customers and considering their feedback, you can create a positive customer experience. This can lead to increased word-of-mouth recommendations and positive online reviews. Consequently, attract new customers looking for quality products or services.

• To Stay Ahead of the Competition

You need to continuously improve your products and services to stay ahead of the competition. Gathering feedback from customers is a crucial part of this process. You can identify areas to improve and gain a competitive edge by listening to customer feedback.

What Are the Most Effective Customer Feedback Methods, and How to Use Them?

• Surveys

You can collect customer feedback in large numbers through surveys.

How?

You can create and distribute your customer feedback surveys using free online tools.

Short, to-the-point surveys with easy-to-understand questions are recommendable. Additionally, offering incentives for customers to complete the survey is essential.

• Net Promoter Score (NPS) Surveys

Net Promoter Score (NPS) is a measure of customer loyalty. Customers rate their likelihood to recommend your business to others on a scale of 0-10. Based on the ratings, customers are grouped into three categories: promoters, passives, and detractors.

• Promoters are customers who are likely to recommend your business.
• Passives are satisfied customers who need more motivation to recommend you.
• Detractors are customers who are unlikely to recommend your business.

• Social Media Monitoring

This involves monitoring social media platforms for mentions of your business, products or services. You can use social media monitoring tools to track mentions and respond to customer comments and complaints. This can help you identify areas to improve and provide better customer service.

• Customer Interviews

Customer interviews entail speaking with consumers one-on-one to get their opinions. You can conduct interviews in person, over the phone, or via video conferencing. You should prepare a list of relevant questions in advance. Also, use open-ended questions to entice customers to provide detailed feedback.

• User Testing

User testing involves observing and gathering user feedback as they interact with your product or service. This can help you identify areas for improvement to provide a better customer experience.

How to Analyze Your Customer’s Feedback Data?

As the saying goes, “When all you have is a hammer, everything looks like a nail.” The same can be said for Excel regarding data visualization and analysis.

Excel indeed has a plethora of chart and graph options. However, it may not always be the most efficient tool for the job.

This is where ChartExpo comes in handy.

ChartExpo can help you easily and efficiently analyze your customer’s feedback data in Excel.

How?

It helps you create insightful visualizations to analyze customer feedback data effortlessly.

Benefits of Using ChartExpo

• Creating insightful charts and graphs is a breeze, even if you’re not a coding expert. ChartExpo’s intuitive interface simplifies the entire process, saving time and boosting efficiency.
• ChartExpo empowers you to design custom visualizations that accurately reflect your brand’s personality and tone.
• The best part? For only $10 per month, you can leverage this powerful data visualization solution. If you’re hesitant about committing to the paid subscription, you can take advantage of the free 7-day trial.

How to Install ChartExpo in Excel?

1. Open your Excel application.
2. Open the worksheet and click on the “Insert” menu.
3. You’ll see the “My Apps”.
4. In the office Add-ins window, click “Store” and search for ChartExpo on my Apps Store.
5. Click the “Add” button to install ChartExpo in your Excel.

ChartExpo charts and graphs are available both in Google Sheets and Microsoft Excel. Please use the following CTA’s to install the tool of your choice and create beautiful visualizations in a few clicks in your favorite tool.

Let’s say you send an online survey to every recent customer to collect feedback. Your survey consists of the following questions.

• Is the price of our product affordable?
• Do you think the quality of the product is better than others?
• Is our product available in all stores in your city?

Your customers provide an answer to each question using the scale below.

1. Strongly Disagree
2. Disagree
3. Neither agree nor disagree
4. Agree
5. Strongly Agree

It’s the end of the month, and you have collected the feedback tabled below.

Is the price of our product affordable?	Do you think the quality of the product is better than others?	Is our product available in all stores in your city?
Strongly Agree	Neither agree nor disagree	Strongly Disagree
Neither agree nor disagree	Strongly Agree	Agree
Strongly Agree	Neither agree nor disagree	Strongly Agree
Neither agree nor disagree	Disagree	Agree
Disagree	Strongly Disagree	Strongly Disagree
Strongly Agree	Agree	Strongly Agree
Agree	Strongly Disagree	Agree
Neither agree nor disagree	Agree	Disagree
Agree	Strongly Agree	Strongly Agree
Strongly Agree	Strongly Agree	Strongly Agree
Strongly Disagree	Neither agree nor disagree	Disagree
Strongly Agree	Strongly Agree	Strongly Disagree
Neither agree nor disagree	Strongly Disagree	Disagree
Strongly Agree	Strongly Agree	Strongly Agree
Agree	Agree	Agree
Strongly Disagree	Neither agree nor disagree	Disagree
Strongly Agree	Strongly Agree	Strongly Agree
Strongly Agree	Disagree	Strongly Agree
Disagree	Strongly Disagree	Strongly Agree
Strongly Disagree	Disagree	Disagree

This table contains example data. Expect many responses and questions in real life.

• To get started with ChartExpo, install ChartExpo in Excel.
• Now Click on My Apps from the INSERT menu.

• Choose ChartExpo from My Apps, then click Insert.

• Once it loads, choose the “Likert Scale Chart” from the charts list.

• Click the “Create Chart From Selection” button after selecting the data from the sheet, as shown.

• When you click the “Create Chart From Selection” button, you have to map responses with numbers manually. The Likert scale has this arrangement:
  • Strongly Disagree=1
  • Disagree=2
  • Neither agree nor disagree=3
  • Agree=4
  • Strongly Agree=5
• Once all is set, click the “Create Chart” button.

• ChartExpo will generate the visualization below for you.

• If you want to have the title of the chart, click on Edit Chart, as shown in the above image.
• To change the title of the chart, click on the pencil icon that is available very next to Chart Header.
• It will open the properties dialog. Under the Text section, you can add a heading in Line 1 and enable the Show option. Give the appropriate title of your chart and click on Apply button.

• Let’s say you want to add text responses instead of numbers against every emoji.
• Click the pencil icon next to the respective emoji. Expand the “Label” properties and write the required text. Then click the “Apply All” button.
• Click the “Save Changes” button to persist the changes.

• Your final chart will look as below.

Insights

• 60% of customers agree the product is available in all stores within the city, but 40% disagree.
• Regarding quality, 45% think the product is good compared to competitors, but 35% disagree. 20% have a neutral response.
• 55% agree with the price, 25% say the product is not affordable, and 20% maintain neutrality.
• The overall response to the survey questions;
  • 37% strongly agreed.
  • 17% agreed.
  • 17% disagreed.
  • 17% strongly disagreed.
  • 13% remained neutral.

FAQs:

How do you write customer feedback?

Be honest and specific in your feedback. Use positive language and provide constructive criticism for areas where they can improve. Also, include specific examples to support your feedback, and avoid making personal attacks.

What is positive customer feedback?

Positive customer feedback is a declaration of gratitude or contentment with a product or service. It emphasizes the positive customer experiences and effects of the product or service. Positive reviews boost your efforts to draw in new clients and keep hold of current ones.

How often should I ask for customer feedback?

It’s important to ask for customer feedback regularly to stay in touch with customers’ needs and preferences. However, it’s also important not to overwhelm customers with too many requests for feedback.

Wrap Up

Customers can provide feedback in various ways and from various points of view. Their feedback can be based on a single interaction or an extended period of use. Some of your most important customers will be your biggest cheerleaders, providing copious feedback.

But not every customer will be a fan of your business. Some will criticize your products and services. The best way to handle negative feedback is to take it in stride. Don’t become offended by what they say or take it personally. Instead, improve where necessary.

Now that you know how to get customer feedback, you can use it for various purposes. These include identifying areas necessitating improvements, building a loyal customer base, and beating the competition.

How do you leverage this data to work for you?

Use ChartExpo for Excel to glean insights.

The best part?

There is no need for coding or other advanced knowledge. You can produce visualizations that accurately capture your brand’s tone and essence with a few clicks.

Net Promoter, NPS, NPS Prism and many other terms related to NPS are registered trademarks of Bain & Company Inc., Satmetrix Systems Inc., and Fred Reichheld.