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WJR Business Beat with Jeff Sloan: Use Consumer Feedback to Your Competitive Advantage (Episode 233)

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StartupNation

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StartupNation inspires, educates and consistently attracts entrepreneurs and small business owners from Main Street America who want to be their own bosses and live the American Dream.
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On today’s Business Beat, Jeff discusses how consumer feedback is one of the most crucial assets in a successful business, especially in modern times, when anyone with access to the web can post their opinions.

Tune in to the Business Beat, below, to learn how you can use consumer feedback to propel your business forward:

“You need to know: 98% of buyers read online reviews before making a purchase decision, and 82% of people trust the voice of customers more than messages that come from the brand. So, you better be sure that what people are saying about you is positive if you want to stay in business.”

– Jeff Sloan

Tune in to News/Talk 760 AM WJR weekday mornings at 7:11 a.m. for the WJR Business Beat. Listeners outside of the Detroit area can listen live HERE.

Are you an entrepreneur with a great story to share? If so, contact us at [email protected] and we’ll feature you on an upcoming segment of the WJR Business Beat!

Good morning, Paul!

That connectivity between businesses and customers has never been stronger than it is today. Customers find us using online research and read about us on social media and even access customer reviews about us before making a purchase. And while all of that pre-purchase access to information is at the start of a consumer’s journey, there’s more benefit to be had by small businesses beyond the pre-purchase phase that is just as valuable.

All you need to do is listen. Now, I’m not talking about the literal activity of listening. Rather, I’m referring to all of the invaluable feedback available to us through the reviews and comments available online, and by paying attention to it, we can fix customer purchase journey issues, optimize our businesses and crank up our sales.

What is now known as the feedback economy is driven by the fact that the web and social media serve as a soapbox for anyone with an opinion about any product, company or concept, and that includes the good, the bad and, unfortunately, for some of us, the ugly. Look, if you aren’t meeting with today’s demanding customer expectations, they’re going to talk.

And more than anyone else, you need to be the one hearing it. It can be unpleasant at times to be confronted with negative reviews and comments, but you need to bite your tongue, take it all in and fix those issues that seem to be coming up regularly. If you do make paying attention and listening to what your customers have to say, you’ll drive more sales, you’ll drive customer retention and you’ll have a command over your business and your competition that gives you the edge.

You need to know: 98% of buyers read online reviews before making a purchase decision, and 82% of people trust the voice of customers more than messages that come from the brand. So, you better be sure that what people are saying about you is positive if you want to stay in business. The bottom line: put customer feedback to work for you and your business now.

I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.

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