Best Practices for Startups to Boost Customer Feedback Systems
It’s a well-known fact that finding new customers is much more expensive than retaining existing ones. Adding to this, according to research from SumAll, companies with 40% repeat customers generate nearly 50% more revenue than similar firms with just 10% repeat business.
For most startups, every penny matters. So how do you retain existing customers? The best way, of course, is to increase customer loyalty by improving the customer experience. Creating effective customer feedback systems is central to this process.
So what best practices should startups looking to boost customer feedback adopt? Here are five tips that will encourage customers to give you feedback time and time again.