Wednesday, 18 October 2017

Information and commentary for the small business banking industry

The importance of honest feedback from your small business customers

02 Aug

There’s no big secret to it – the better the relationship you have with your customers, the more likely they are to stay loyal to you, and to continue to tell others about you. One of the most effective ways of building and maintaining good relationships is to obtain useful, honest feedback from your customers.

What you’re looking to do is begin a series of small actions that create a connection with each of your customers and help build relationships over time. This is key to getting truthful feedback when you need it. The feedback may not always be what you want to hear, but it needs to be an ongoing part of your bank’s relationship with its small business customers.

Your customers deserve the personal touch when it comes to communication. They expect your bank to make an effort replying to their requests or questions. Doing so will improve your chances of gaining useful, authentic feedback. The main thing you’re looking to avoid is assuming that you already know what your customers think. It’s always possible that plenty of the feedback you’re receiving from people in person isn’t that honest. Whether your customers are busy, distracted or simply embarrassed to say what they really think, you’re probably not getting the answers you really need.

Here are 7 tips for getting honest customer feedback.

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