Ten ways to use feedback to improve performance

#10   Reduce acquisition costs by identifying & leveraging advocates on social media.

#9     Use the voice of the customer to identify how you can be easy to do business with.

#8     Seek feedback in key attributes relative to competitors. Use this data to fine-tune your marketing.

#7     Collect ideas from your customers for product service improvements.

#6     Identify organizations that provide the best sales and service experience and use them as role models.

#5     Use specific transaction feedback to identify process weaknesses & failings.

#4     Create automated alerts to identify at-risk accounts, initiate service recovery and reduce churn one customer at a time.

#3     Utilise win/loss surveys on proposals to identify cause of lost business.

#2     Measure satisfaction and advocacy as the basis for bonuses. This allows you to focus your organization in improving loyalty

#1     Prioritize investments by using feedback to identify which areas of weakness cause you to lose your most valuable customers.