First Card Payments > Merchant Support  > The Benefits of Customer Feedback & How to Obtain It

The Benefits of Customer Feedback & How to Obtain It

How to Get More Customer Feedback

It doesn’t matter what industry you’re in, be it Nutraceuticals, Document Preparation, E-Commerce retail, CBD, Diet Programs, Adult Entertainment, Educational Seminars, etc. The list goes on and on. Besides being considered high-risk for merchant accounts, each and every one of you has something very important in common.


All of your businesses could highly benefit from obtaining customer and client feedback. In fact, knowing how consumers feel about companies, brands, purchasing experiences, pricing, advertising, etc. could actually contribute to major growth and profitability for your firm.

Would It help To Know…

At present, close to 65% of consumers believe that the experience they have doing business with a company far outweighs the importance of the price they pay for goods and services.

In addition, 65% of customers state that the positive experiences they have with a company is much more likely to bring them back then any advertising they come across by the same company, regardless of the benefits being offered them.  

Might it help your business to know that approximately 65% of millennials feel that the best way to find out about products and services is through recommendations obtained on various social media platforms?

Stating The Obvious

It certainly makes sense that finding out what makes your current and potential customers and clients happy; what turns them on and turns them off regarding companies, brands, services and products; what factors are most likely to bring them to you in the first place and how to keep them coming back, are absolutely invaluable educational tools in aiding the growth and profitability of your company.

Invaluable Information

The truth of the matter is, it’s a no brainer that it would, without a doubt, behoove all businesses to make the effort to find out how consumers feel about their buying experiences and how those experiences tend to influence and guide them towards future purchases and participation.

Moreover, having obtained that invaluable information, if those businesses were to create a buying experience and environment that answered the needs and preferences of consumers, they would more than likely see their customer/client base and their profits soar.

Negative Feedback

If you’re in business, you already know that if a customer is unhappy regarding their experience or purchase with your company, chances are pretty good you’ll hear about it.

Most consumers don’t hesitate to let you know when they’re less than pleased with their experience or purchase.

In fact, they’ll happily share it with all those they interact with both in person as well as on social media.

That’s the easy way for a company to obtain feedback and although it may be negative, if utilized properly, that information can be a great tool to help you  create a better future experience for all of your potential customers and clients.

 Informative Feedback

What your really want from your current and potential customers and clients is information. You want to know what works and doesn’t work for them so you can provide them with a very positive experience when they do business with your company.

When you give consumers what they want they give you repeat business, loyalty and free advertising in return. It’s a winning situation for all involved.

Best Methods For Obtaining Feedback

Whether your business is online or offline, it’s a good idea to obtain email addresses from all clients, customers and browsers.

Follow up by sending out survey emails to all, designed to find out what was experienced while doing business or visiting with your company.

You’ll also want to pay attention to social media platforms such as Facebook, Twitter, Instagram and LinkedIn. Millennials love to share their buying experiences on these popular sites, giving business owners a wonderful tool for garnering useful consumer information. In addition, consider creating a live chat vehicle on your website, offering consumers an easy way to discuss all types of issues, opinions and suggestions, thus providing you with priceless information.

The More You Know…

The fact is, the more information you know about consumers and what makes them happy, the more you’ll be able to provide them with the buying experience they’re looking to have.

Feedback gives you that knowledge and as the saying goes, “knowledge is power.” And in this case power can give business owners, both on and offline, the ability to build your business way up and experience huge profitability.

( Merchant Account Specialist )

Joyce Hope is a writer who specializes in merchant accounts. She has worked for First Card Payments since 2017.

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