A lot of businesses underestimate the importance of customer feedback especially when it comes to generating new business leads. When buying a product online what is the one thing you always look at before committing to a product? Customer reviews. We do this because we trust people over promotions. Numerous studies have supported this theory by comparing reasons customers buy products and services and multiple studies have found that customer feedback comes out on top, making it more powerful than all forms of advertising. With these figures surely every company should be receiving and publishing customer feedback, however this is not the case, so if you are looking for an edge over your competitors maybe this is an avenue you should explore.
Customer feedback can be influential in a couple of ways as it can show you where you can strengthen your product or services but it also dictates whether a potential customer sees you as trustworthy and reliable. Advertising is an excellent way to generate brand awareness and update customers about product development among other things but customer feedback allows potential customers to understand how you conduct yourself in a business environment, and most crucially it is a huge deciding factor in whether they want to work with you.