The Power of Customer Feedback: A Missed Opportunity for Most Companies

Many companies today are investing thousands, even millions, of euros in advertising to attract and retain customers. Yet, when it comes to collecting and understanding customer feedback, very few companies seem to have a clear idea of what’s actually happening inside their business. This has been on my mind for some time, and I must admit, it’s something I find quite troubling. Customer feedback is the most direct insight a company can gain into its performance, and yet, it’s often neglected.

Personally, I try to avoid complaining too much, though it can be difficult at times. I just can’t understand how so many businesses fail to prioritize customer feedback. It’s baffling that companies spend so much to attract customers but invest so little in understanding how those customers feel about their experience.

This brings me to a recent experience that stood out in contrast. Last week, I was invited to the CNBC Connect event in Bangkok. The full name was CNBC Connect: Powering Innovation and Growth in Asia. Let me tell you, it was not only a well-organized event, but it also demonstrated an exemplary model of gathering and leveraging customer feedback.

From the moment I arrived at the entrance, everything was seamless. There was networking for startups, coffee, snacks—everything was flawlessly arranged. The talks were informative, and the entire day went off without a hitch. It was a perfectly organized event, with nothing I could find fault with.

Then, something happened that really impressed me. On the way home, I noticed that everyone who attended the event had a name badge, and on the back was a QR code. Out of curiosity, I scanned it, and it opened a customer survey. At first, I intended to fill it out immediately, but as some of the questions required more detailed responses, I decided to come back to it later.

A few days went by, and then I received a professional follow-up email thanking me for attending the event. Not only that, but they reminded me about the upcoming broadcast of the event, which had been recorded, and once again invited me to complete the customer survey. The level of professionalism and care in that follow-up was remarkable.

It struck me how well CNBC had managed the entire process, from the event itself to the post-event engagement. They clearly value customer feedback, not just in theory but in practice. This is something many companies—especially some of the Thai supermarkets I’ve encountered—could learn from. In some cases, their customer service is simply disastrous. A customer survey, in those cases, would not only be useful—it’s downright necessary.

In conclusion, customer feedback is an essential tool for any business that wants to improve, grow, and innovate. Yet, so many companies miss the mark. They could stand to learn from events like CNBC Connect, where feedback isn’t just an afterthought but an integral part of their success strategy. Companies that take the time to listen to their customers are the ones that will thrive in the long run. Let’s take a lesson from CNBC Connect and strive for excellence in understanding our customers.

Hashtags: #CustomerFeedback #BusinessGrowth #CustomerExperience #EventManagement #Innovation #BusinessStrategy #Leadership #Marketing #CustomerService #Inspiration