Small Business Consultants Can Help With Customer Feedback

March 24, 2015

Understanding what customers want is vital to the success of any business. A company begins operations with a certain product line or service; however, consumer demands can change over time. To create a flourishing business, these new demands must be met. Existing products or services can be either “tweaked” or new products or services added. Responding to customer needs and adding value through customer feedback is an excellent method of expansion.

Many times, new products and improved services are introduced after surveying customers' wants and needs. A small business owner must understand these desires before introducing new products and services. An Accredited Small Business Consultant can explain the importance of customer feedback to clients and can assist in the development of a useful questionnaire, survey, response card, or focus group.

It is normal in any business to lose customers. When a business starts to consistently lose customers, however, this should be a signal to find the cause. Lost customers can provide crucial feedback to a business. An email or phone call may reveal many reasons for customer dissatisfaction. Retaining old customers is far less expensive and easier than trying to acquire new customers. Addressing and satisfying a lost customer’s grievance can lead them back to the business while providing valuable feedback for the company, so the same dissatisfaction is not caused to another customer.

Remaining competitive is learning what the competition is doing and, then, doing it better or different. Customer feedback can play an important role in understanding why competing products or services are catching consumers’ interests. In a competitive marketplace, consumer feedback is an excellent method to determine how to expand or change existing product lines and services. Through low-cost, customer feedback, a small business owner can effectively align marketing strategies with customer needs.

Posted by Richard Weinberger, PhD, CPA
Chief Executive Officer
Association of Accredited Small Business Consultants


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