How to collect and analyse customer feedback

Summary

In this insightful presentation, Valentin, co-founder and CTO of Harvester, emphasizes the importance of collecting and analyzing customer feedback for product development. He outlines strategies for systematizing feedback collection, organizing it into a feedback hub, and using it to prioritize product improvements. Valentin also stresses the necessity of closing the feedback loop with customers to foster engagement and satisfaction, ultimately differentiating your product in the market.

Takeaways

• 😀 Collecting and analyzing customer feedback is crucial for competitive advantage as it allows companies to learn faster and act quicker than competitors.
• 🔍 A significant percentage of companies (42% according to Oxford Research) do not listen to their customers, missing out on a major opportunity for product improvement and differentiation.
• 👥 Product managers often struggle to prioritize direct interaction with customers due to their many responsibilities, which can lead to insufficient customer feedback integration.
• 🔄 Establishing a customer feedback loop is essential for continuous learning and leveraging customer inputs to make informed product roadmap decisions.
• 📝 Systematizing feedback collection involves setting up the right channels and processes to gather quality feedback at the appropriate times.
• 📅 Feedback should be collected at specific phases of product adoption, including marketing, onboarding, and churn phases, to capture a range of customer experiences.
• 📊 Both prompted and unprompted feedback channels should be utilized and managed to ensure comprehensive feedback collection.
• ❓ Asking the right questions is key to uncovering underlying customer problems rather than just collecting a list of feature requests.
• 📊 Segmenting feedback by user type (e.g., active, inactive, power users) helps in gathering diverse insights to improve various aspects of the product.
• 🗂 Building an organized feedback hub centralizes all feedback sources, making it easier to analyze and prioritize customer problems against business goals.
• 🔁 Closing the feedback loop by providing updates to customers who give feedback is vital for maintaining customer engagement and showing that their input is valued.

Q & A

What is the main focus of Valentin's presentation?

Valentin's presentation focuses on how to collect and analyze customer feedback effectively to build better products and gain a competitive advantage.

What is Harvester according to Valentin?

Harvester is a product management software solution designed for customer-driven teams, which helps in collecting, centralizing, and analyzing customer feedback to inform product development.

What does Valentin quote Jack Walsh as saying about competitive advantage?

Jack Walsh is quoted as saying there are two sources of competitive advantage: the ability to learn about customers faster than the competition and the ability to turn learning into action faster than the competition.

Why is it important to collect customer feedback at different stages of product adoption?

Collecting customer feedback at different stages helps in understanding customer perceptions, onboarding experiences, and reasons for churn, which can be used to improve the product and prevent customer loss.

What does Valentin suggest about the importance of closing the feedback loop with customers?

Closing the feedback loop is crucial as it rewards customers for their input, engages them more, and encourages them to provide further feedback, which is essential for continuous product improvement.

How does Valentin define the 'customer feedback loop'?

The 'customer feedback loop' is a continuous learning process that involves gathering and leveraging customer inputs, both qualitative and quantitative, to make informed decisions about the product roadmap.

What are the different phases Valentin mentions for collecting feedback?

Valentin mentions collecting feedback during the marketing phase, onboarding phase, and churn phase, focusing on events such as unsuccessful onboarding to gather relevant insights.

Why is it necessary to map and audit feedback channels according to Valentin?

Mapping and auditing feedback channels help in identifying where the best feedback is coming from, allowing teams to focus their efforts on those channels to collect more high-quality feedback.

What does Valentin suggest about the importance of segmenting feedback?

Segmenting feedback allows for the collection of diverse insights from different user groups such as active, inactive, power users, and new or old customers, which can be used to improve various aspects of the product.

How does Valentin recommend prioritizing customer problems identified from feedback?

Valentin suggests building a system to analyze and prioritize problems based on criteria relevant to the product, industry, and company goals, ensuring that feedback is one of many inputs for roadmap decisions.

What is the significance of providing updates to customers after they give feedback, as mentioned by Valentin?

Providing updates to customers after they give feedback is important for maintaining trust and showing that the company values their input. It also helps in differentiating the company from competitors and can lead to increased customer satisfaction and engagement.