It is intrinsic to listen to your customers because this will help you have an insight into what they are expecting from you. If you are a start-up company, it becomes more crucial to listen to your target audience. Customers immediately switch to the competitor when they are dissatisfied with your products and services.
If you keep losing them this way, you will end up shutting down your business. You cannot perfectly serve your customers from the first day of your business. You will have to identify their needs and the change in their buying behaviour so that you can hook them to your products and services.
When it comes to listening to customers, most people think that it is just about knowing their problems, but the fact is that it is just a small part. Listening to customers is an approach to connecting with your audience.
It emphasises building a solid relationship with your audience by understanding how you can help them achieve their goals. Before you know how you should listen to your customers, you should know its importance.
The importance of listening to customers
Here are the reasons why you should take listening to customers seriously. It is not a joke. Otherwise, your business will become a joke.
- It whittles down the customer attrition rate
The higher the dissatisfied customers, the higher the attrition rate. Many competitors are already settled in the market with strong goodwill that can quickly get one upon you. This is why it is crucial to ensure that you provide your customers with top-notch products and services.
A better user experience can reduce the churn rate by about 60%. Decreased customer churn rate will lead to increased customer retention. Note that acquiring new customers is always more expensive than retaining existing customers.
This is why you should try to hook them to your products and services, and this all can happen when you render the best experience to your users.
- It lets you streak ahead.
To make your presence stronger on the market, you will have to know what exactly your customers are looking for. Needs and buying journey keeps changing. You likely have to do up your product so that you can streak ahead.
The same product cannot withstand the rising competition. You will have to keep introducing the changes in your products. The more innovative you are, the better.
Tips for listening to your customers
Now you have got to know the two most prominent reasons for listening to your customers. If you want to grow your business, you will have to do it. Here are some of the tips on how you can do it.
- Become a patient listener
You will come up with various opportunities when you listen to your customers to know what problems they have and what product you can offer to them as a solution – from direct queries posted on your website to forums and from telephonic conversations to emails.
You do not need to rush to anything and do not need to make your customers feel lunatic by any of your gestures. If you are talking to them on the phone, you should try to listen to them carefully. Breaking in is not a good idea, no matter what.
Likewise, you should answer in detail their queries, no matter which platform they are using. You will immediately solve their query if you patiently listen to them. It is essential to know what exactly they are asking you before answering them.
- Respond fast
When a query is posted, it becomes crucial to respond to your customers quickly. You should not wait until 24 hours to respond to them.
Round the clock service is the best option to do it. Resolving their issue quickly is the most crucial step to increase the customer retention rate.
- Know about their opinions during conversations
Never assume that your customers are short of ideas. They know about their problems better than anyone else does, and hence they can offer you a lot of great ideas if asked. When you are on the call with them, you should ask what they want.
It is the best opportunity to know what your customers feel and think about your products and services. When you provide them with what exactly they want from you, you will be able to establish a good relationship with your customers, and the ultimate benefit is that the customer retention rate will go up.
- Identify frustration points with weekly surveys.
In the beginning, it can be a lot easier to be in touch with your customers because your business is at a growing stage, but as you grow, it becomes difficult to catch up with them.
To ensure that your users are not dissatisfied with your product and service, you should send a weekly survey to your customers so they can report to you what problems they all are currently having. Sending such weekly surveys can help you resolve their issues immediately.
The final word
Listening to customers can help you grow quickly. You will have to identify their concerns and buying behavior, and for that, it is essential to invest in the right software. In case of a lack of funds, you can take start up loans for bad credit.
You can get money at affordable interest rates if you borrow money from a reputed online lender. However, make sure that you can quickly repay these same day loans on benefits. Use the tips mentioned above to listen to your customers.