What Can a Customer Survey Do for Your Business?

Blog post by: Melissa Ignasiak
When businesses are looking to increase revenue and overall customer retention and satisfaction, the idea of a survey is usually overlooked. Collecting customer data from surveys can reveal customer preferences and if analyzed correctly, can help in adapting strategies to become more successful. Here are a few examples of how customer surveys can help improve your business:

Establish Benchmark Measurements
The first step to determining how much you want you business to grow is to figure out where you are starting. Benchmarking can show you where your weaknesses are, in which areas you can improve,  and how to maintain your strengths. Knowing where you start will also allow you to track the success of your strategic planning.

Get to Know Your Target Audience
Customer satisfaction surveys help businesses of all sizes discover what the public and existing customers think about your business. It helps to understand what makes prospective clients become repeat customers. There are also times when a customer is unhappy and will not say anything just to avoid conflict, but they may never return to your business and could be talking poorly about your business. Customer surveys can help to pinpoint exactly what your customers do and do not like.

Creation of New Ideas
Data from customer surveys can reveal trends in the needs of your customers. Knowing their needs can help you develop new and innovative ways to meet what your customers are asking for. If you see there is a demand for a certain type of product or service, a survey can also help you to decide how much your customers are willing to pay and establish a reasonable and profitable price point.

Develop Customer Relationships
Surveys give customers a chance to share their feelings and gives them the opportunity to participate in what is to come for the business. Offering incentives may also give customers an extra push to take the survey and assure them you what to know their feedback. Customers will feel like their opinion really matters and that you are open to new ideas in order to make them happy.