Most companies capture customer feedback, but only a small fraction act on it, and even fewer follow up with customers to address problems, make changes, and rescue at-risk relationships. Customer feedback has the most value if a company acts on it in a timely manner to "close the feedback loop."
"Closing the feedback loop" refers to the process of sharing customer feedback with the employees responsible for the customer experience, empowering those employees to take appropriate action on the feedback provided, and allowing the employees to interact directly with customers to resolve issues and inform them of what actions would be taken. As a result, organizations can effectively turn difficult situations into an opportunity to enhance the customer experience and strengthen customer relationships. That responsiveness will help these organizations stand out from their competitors in the marketplace.