Importance of Customer Feedback | Fora Financial Blog
Importance of Customer Feedback & Testimonials
March 14, 2014

Importance of Customer Feedback & Testimonials

Customer feedback is where most businesses learn how to better serve customer needs, and ultimately continue to succeed and grow as a business. As a small business, listening to your customers will enable you to elevate your services.

Many businesses think that the dialog ends after the sale cycle is finished and the customer is won. Try engaging with the customer after they’ve invested in your product or service. By keeping the conversation open you validate the decision in investing in your service or product. Setting up automated emails immediately following the sale and asking them about their experience and suggestions on areas to improve is a great way to start the conversation. Instead of guessing what your customers’ needs are let them tell you!

By keeping the conversation open you validate the decision in investing in your service or product.

Customer surveys and large customer service departments are really responsible for the continued success of a business. If your company has no follow up or support for the customer, and what they have to say, you will most likely lose that business in the future. Most businesses rely on reoccurring business, asking for opinions can turn an unhappy customer, into a validated one!

Second, it is important to understand your personal credit score. Regardless of the number, you want to be aware of any delinquency or activity on your credit history report. Being aware and having the chance to explain to lenders what they are looking at will go a lot further then being blind to a low credit score. There are plenty of lenders that will still be willing to give a business a chance regardless of their credit score. It speaks volumes to show you are aware and educated on your current situation.

Another extremely valuable tool in business is customer testimonials. We have seen firsthand the power of customer testimonials as see on our Success Stories page. Having real customers that can speak on behalf of your company’s services goes a long way to future prospects. Today, everyone wants to know they can trust a business; showing that real people have worked with you previously and had success gives them affirmation. A survey conducted in 2013 by Dimensional Research showed that 90% of respondents’ decisions were influenced by online reviews (

It goes back to two things, showing that you value your customers’ opinions and that your business is a trusted well liked organization!

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

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Fora Financial is a working capital provider to small business owners nationwide. In addition, the Fora Financial team provides educational information to the small business community through their blog, which covers topics such as business financing, marketing, technology, and much more. If you’d like to see a topic covered on the Fora Financial blog, or want to submit a guest post, please email us at [email protected].