“How Much Do You Value Customer Feedback?”

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“How Much Do You Value Customer Feedback?”

Rockefeller Habits #6

Reporting and analysis of customer feedback data is as frequent and accurate as financial data.

Last time we looked at Rockefeller Habit 5 which was that employee input is regularly collected, analysed and acted upon. Rockefeller Habit 6 refers to customer feedback data. Again, it seems like common sense but as we see time and again common sense is rarely common practice. It is pretty obvious that we should gather feedback from our customers and make sure that we are adding value to them and their lives, but I wonder how many of us do.

Gathering Feedback

Have you ever noticed that those organisations which give really good service are constantly asking how they are doing, whereas the others, the ones where you really want to let them know how poor the customer experience was never ask and it is impossible to find out how to register your thoughts? One of my coaches Keith Cunningham said “The two biggest indicators of where your business will be in 6 months time is the morale of your team today and the morale of your clients today.”

Customer Data

Habit 6 states that not only should we gather customer feedback data but it should be analysed and reported as frequently as financial data and with the same accuracy expectations. I expect financial data on a daily basis. I will also expect customer feedback data just as frequently, just as accurately and I should treat it with equal, if not more importance. Customer feedback data is a leading indicator in so far as it predicts the future performance of the organisation. Financial data is very much a lagging indicator as it tells you what has already happened. To that extent you can argue that customer data is more important than financial data. Structured Conversations I wonder, is it in your business? Does every executive have a conversation with an end user at least once a week? Is that a structured conversation? Are the results collated, analysed and communicated? Can you spot trends in the collated feedback and are you using this priceless information to inform your strategy and tactics, in other words to improve? Why not?