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5 Things Entrepreneurs Should Use Feedback For

Business Insights

Many entrepreneurs know the value of feedback, as it tells them what the customers are thinking. The problem is, a lot of those same entrepreneurs aren’t sure or aren’t interested in what else they can do with said feedback at that point. That’s a tremendous waste of a powerful resource. Here are 5 things startup owners can do with consumer feedback:

It Can Be Used as Testimonials

Not all feedback is negative. Entrepreneurs who are doing their job right will have positive feedback coming their way as well – and that’s a tremendous advantage. If shown off on the business’s Facebook page or site, good reviews can be used as a form of social proof, which is something a new brand desperately needs to establish themselves. As an added bonus, it’ll show the market that the startup listens and does something with their feedback.

Feedback Can Be a Motivational Tool

One of the biggest issues a startup faces is employee morale. Work at a startup is inherently unstable. Job security is rare, and the scale of the work can make it difficult to see value and importance in the daily grind, which can bring morale down. Fortunately, feedback can be used to show employees that what they do does make a difference, and that they are improving people’s lives with their work.

It Can Be Used in a Rewards System

Entrepreneurs should take every opportunity to provide their customers with positive experiences. The more the startup provides these moments, the better it will be perceived. If someone’s feedback is useful, they should be rewarded for it, so others will be encouraged to also send in feedback that can be helpful to the startup. Sometimes, the reward is public, such as when vouchers are provided people who answers surveys. Other times, a simple thank you note will do as well.

It Can Be Used to Develop Products and Services

Feedback doesn’t just tell companies what the customers think of the offer, it can tell them what those customers will want in the future. Perfect reviews are rare. There’s always something they’re going to wish for, and a smart entrepreneur can use that to further refine their product and how it is offered. Comparing feedback to the product roadmap, for example, can lead startups to see if what they’re planning lines up with customer expectations and desires. If it doesn’t, they can adjust it accordingly.

Feedback Can Be Used to Identify How the Brand is Viewed

Proper marketing is a key part of any startup’s strategy, but the problem many companies face is figuring out if it’s effective in the right way. Being noticed is one thing, but marketing isn’t just about being discovered – it’s being known for the right thing and evoking the correct emotions. Fortunately, feedback can also be used to see if marketing is leading people down the right path. Direct clues or statements can help, but entrepreneurs should also look at the tone people use, as it can indicate the kind of relationship they feel they have with the company.

Gathering feedback is important, but using it well is just as important. Smart entrepreneurs will not just make sure to listen to their market, but will do something about their thoughts as well.

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