{"id":3849,"date":"2022-12-01T11:55:52","date_gmt":"2022-12-01T16:55:52","guid":{"rendered":"https:\/\/canny.io\/blog\/?p=3849"},"modified":"2025-01-22T15:12:43","modified_gmt":"2025-01-22T20:12:43","slug":"feedback-management-customer-retention","status":"publish","type":"post","link":"https:\/\/canny.io\/blog\/feedback-management-customer-retention\/","title":{"rendered":"How feedback management leads to improved customer satisfaction and retention"},"content":{"rendered":"\n

Gathering feedback has many benefits. Often, people associate user feedback with product improvements. And there\u2019s definitely a direct correlation<\/u><\/a> between the two. But there are other benefits connected to collecting, organizing, and using customer feedback. Specifically, customer satisfaction and customer retention. <\/p>\n\n\n\n

Increasing your customer retention rate by only 5% may lead to a 25-95% profit increase<\/a><\/u>. Seems like a big\u00a0deal!<\/p>\n\n\n\n

This article explains how and why customer feedback management improves customer satisfaction and retention.<\/p>\n\n\n\n\n\n

<\/p>\n\n\n\n

It builds brand loyalty<\/h2>\n\n\n\n

A satisfied and loyal customer rarely complains. And very happy customers become your brand evangelists. They tweet about you without you even asking. They tell their friends and bring business your way. Sounds awesome, right? But how do you get there?<\/p>\n\n\n\n

Paying attention to their feedback is a great way. Here\u2019s a scenario to illustrate:<\/p>\n\n\n\n

    \n
  1. Customer submits product feedback (\u201cplease fix this bug\u201d)<\/li>\n\n\n\n
  2. Other users vote on it (\u201cyes, I\u2019m having the same issue\u201d)<\/li>\n\n\n\n
  3. You comment to get more details<\/li>\n\n\n\n
  4. You prioritize this issue based on votes, effort, urgency, etc.<\/li>\n\n\n\n
  5. You actually fix it<\/li>\n\n\n\n
  6. You tell your customers about it (and the ones who brought it up find out first)<\/li>\n<\/ol>\n\n\n\n

    What do you think is going to happen if you follow through on their feedback? They\u2019ll be ecstatic! Actions speak louder than words. So acting on customer feedback will make your customers feel heard and valued. Here\u2019s an example of how we got a request to build a ClickUp integration<\/u><\/a>.<\/p>\n\n\n

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    \"Canny<\/figure>\n<\/div>\n\n\n

    Chris Wainwright, Director of Marketing at Humi<\/u><\/a>, says: <\/p>\n\n\n\n

    \n
    \n

    \u201cFeedback from our customer base lets us know what they like about our HR software. And, what needs improvement. We use that information to make improvements. That leads to a better user experience for all users of our product. This helps us keep our existing customers and win new customers. Because, they know that we\u2019re listening to their feedback. And, making changes based on what they tell us!<\/p>\n\n\n\n

    The more feedback we get from customers, the better we can tailor our products to customer needs\u201d<\/p>\n<\/blockquote>\n<\/blockquote>\n\n\n\n

    You can take your customer relationship one step further and build a loyalty program. Encouraging feedback can be a great component of any loyalty program. Many programs actively reward users for contributing feedback.<\/p>\n\n\n\n

    It\u2019s surprising how many companies fail with feedback collection. Even fewer involve customers in their product management.<\/p>\n\n\n\n

    Make sure you\u2019re not one of those companies \ud83d\ude42 Check out our best practices for feedback collection here.<\/p>\n\n\n\n

    <\/p>\n\n\n\n

    \n\n \n\n \"How\n\n <\/a>\n\n<\/div>\n\n\n\n

    It prevents complaints<\/h2>\n\n\n\n

    Why wait until someone is really upset? <\/p>\n\n\n\n

    The last thing you want is to receive complaints in the form of customer reviews (like G2 or Capterra). Or, negative feedback on social media.<\/p>\n\n\n\n

    Be proactive instead. Manage customer expectations. Give your users a direct channel of communication. Invite them to share their opinion, have a conversation, and take part in the process. Better yet, set up a public roadmap<\/u><\/a> to show them that you\u2019re working on their issue.<\/p>\n\n\n

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    \"Canny's<\/figure>\n<\/div>\n\n\n

    The roadmap assures users that you\u2019re continuously improving. And, that you\u2019re not another \u201czombie project\u201d. It also promotes customer engagement.<\/p>\n\n\n\n

    <\/p>\n\n\n\n