How to Use Customer Feedback to Boost Small Business Growth

Businesses that listen and act upon customer feedback improve long-term growth, industry insiders say.

HOUSTON, TX, UNITED STATES, September 17, 2024 /EINPresswire.com/ -- Leading invoice funding company Charter Capital says small businesses that harness the power of customer feedback grow stronger and have better long-term outcomes. Additional insights are available in the report “How to Use Customer Feedback to Boost Small Business Growth,” now available on charcap.com.

The new report explores how unprompted feedback, such as reviews or social mentions, and prompted feedback, such as surveys, provide valuable insights that can help businesses improve their products or services, strengthen the customer experience, and tailor marketing to the audience, leading to stronger long-term growth.

“Your customers are among your best advisors—listening to them is the first step in building a business that truly meets their needs,” explains Joel Rosenthal, Co-founder and Executive Manager at Charter Capital.

He says that businesses should gather feedback from various sources and capitalize on word-of-mouth advertising opportunities. For instance, review sites are a first stop for many customers before they decide to work with a business, so it’s essential to maintain a presence. However, he encourages businesses to take this a step further and use the information to help improve and ensure alignment with customer needs.

Rosenthal also notes that many growing businesses overlook the importance of prompted feedback. However, he contends it’s very simple to implement feedback systems by using automated surveys or weaving follow-up calls into processes at critical stages of the customer journey.
“Customer feedback is not just a reflection of past performance,” he adds. “It's the blueprint for future growth.”

It’s imperative to set up formal systems for evaluating customer feedback and adding action items to the company’s roadmap. Without processes in place, it’s easy to lose touch with customers and miss out on opportunities that would otherwise lead to improved services, a better customer experience, and, ultimately, stronger loyalty and sales.

Rosenthal says that most customer feedback strategies are very affordable to implement, while others may require a capital investment. Acting on the feedback may also require capital. However, he believes this shouldn’t be a barrier for businesses, as options like invoice factoring can provide capital quickly without creating debt.

Those interested in learning more about invoice factoring or who would like to request a complimentary quote may do so by calling 1-877-960-1818 or visiting charcap.com.

About Charter Capital

Headquartered in Houston, Texas, Charter Capital has been a leading provider of flexible funding solutions for the B2B sector for more than 20 years. Competitive rates, a fast approval process, and same-day funding help businesses across various industries secure the working capital necessary to manage daily needs and grow. To learn more, visit charcap.com or call 1-877-960-1818.

Keith Mabe
Charter Capital - Factoring Made Simple
+1 713-960-1818
email us here

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