Don’t just show that you are listening and this feedback is valuable, but also get the customer excited about what’s next in store! But how. Customers want to feel valued. From investment banking to homeostasis to climate change, feedback loops are everywhere, and play a major role in the way we navigate through life and business. Just as office staff demand better, faster information flows, field staff also need to know where to focus their attention to make improvements and corrections. Her love of writing comes from spending years of publishing papers during her PhD. How do they work? Most companies ask customers for feedback, but when it comes to closing the loop on that feedback, most still use these two rudimentary strategies, if at all: At Thematic, we’ve looked at churn data across all NPS scores and found that churn is present across all responses. Once the data is collected it has to be analyzed. Customer Feedback Loop is a strategy for constant product improvement based on users’ opinions and suggestions. Identify some of the key themes in feedback and for each theme, the most suitable response and possibly an offer. Or, to give another example, if someone comments on how the website is very difficult to use, you could respond with an email describing new upcoming features that will address these issues. Here, we will first discuss why closing the loop is important, then provide three examples of how to grow your business thanks to customer feedback, and finally explain how to implement something like this in real life, using technology! Thankfully, companies around the world have recognized this. All rights reserved, sign up What’s the best way of activating them? If you have a high NPS or satisfaction score, you might not have that many Detractors. Because of their common reoccurrence, they are the most user-friendly of the tools. When working via pair or mob programming, for instance, developers experience feedback loops directly between the people working together on a task. How do you actually implement this? Instead of “Thank you for your feedback”, the company should make it easy for a happy customer to buy more. A really high mortality rate would drive the population to zero. Consider creating a solid Customer Feedback Loop for your services. With Customer Feedback Loop you will gain an advantage over the competition, creating the high-quality customer experience people won’t forget. It is based on the naturally recurring pattern which is called “ mutual causal interaction ” where actions of both subjects’ have a mutual impact on each other. For example, if a customer complains about being overcharged, the company may respond with an apology and issue a refund. All feedback loops have one key characteristic: the output from one cycle becomes the input for the next cycle. At the same time, it is an easy way to manage clients’ complaints and actively react to them. Imagine a customer, let’s call him Adam, has said: “I love your weekly deals section”. A positive feedback loop is a situation where A causes B that causes even more of A. Among the variety of options for collecting feedback, one method seems to stand out, surveys. Even if the product is right, once your clients are left with a bad taste in their mouth it is extremely hard to change them around. A good starting point can be the most critical issue. The graph on the left shows that among customers who gave a “likelihood to recommend” score of 0 in the NPS survey, they have almost  7% churn rate, but among those who gave a score of 10, only 3.5% churn. Using Feedback Loops brings several benefits. Get our best content delivered to your inbox once a month. If a goal is to be attained, some signals from the goal are necessary at some time to direct the behavior.” —Norbert Wiener, father of Cybernetics & Control Systems. In summary, closing the loop is a critical step in monetising your customer feedback strategy. You have a field service team that goes to a variety of locations daily for service calls. For decision makers, this is a major concern. This way you will uncover new opportunities to create lasting relationships with your clients and reduce customer complaints by quickly reacting to their needs. Once the comment is ready for responding, for example, when the requested feature is shipped, a reviewer marks this comment as ready for a response. Positive feedback loops are self-amplifying cycles that seeks to increase a signal that comes through. Another day gets wasted going back to collect the information, and return to headquarters to transcribe the information before the process can continue. Once the feedback is collected, it’s funnelled into a Google Spreadsheet. But not all feedback is customer complaints. What good is a thermostat that cools your house down 3 weeks later? If you feel like your business processes could be improved with real-time updates, better field data, and fast reporting, we invite you to try Fulcrum FREE with your team by visiting our signup page.