Harnessing the power of feedback

Do you want to know one of the secrets of our success? We listen. Feedback from users is what drives us to always be improving. After all, who better to guide us than the very people using our software?

We don’t just listen of course. We also act upon what we hear. That’s because our goal is to provide you with the tools you need to ensure your clients’ retirement income portfolios last a lifetime.

As Bill Gates once said, “We all need people who will give us feedback. That’s how we improve.”1

So, to celebrate the release of our annual user survey, here are five reasons why feedback is critical to our business and a priority for our team.

It drives business decisions

The opinions of our users mean we can make data-based business decisions, specific to our target market. Adjusting future plans in this way will ensure our products and services meet your needs, and help us to stand out in a competitive market

It also leads to a less scattershot approach to investment. As our decisions are aligned with customer requirements from the development stage, the return on investment (ROI) should be greater than development based on assumptions.

It’s all about our customers

Asking for feedback and making business decisions based on user suggestions helps improve the customer experience. We put our customers at the heart of our decision-making and that value their opinions.

Unless we have an understanding of our customers’ expectations, it’s hard to meet - or exceed - them. And if expectations are met, customers are more likely to remain loyal and stick with us as we continue to grow, evolve and improve.

It can drive growth

It’s not just current customers that benefit from feedback. Before signing on the dotted line, potential customers actively seek out social proof, such as case studies.

In fact, one study2 found that as many as 66% of consumers said the presence of social proof made them more likely to purchase a product.

Customer satisfaction

Unless we’re actively asking for feedback, we might not know what our customers truly think about us. With customer satisfaction closely linked to business performance, making sure users are happy is our priority.

Collating their opinions gives us a snapshot of what we’re doing well, and what we should focus on to drive that satisfaction level even higher.

Continuous learning

Even with expert knowledge of our sector, we must not assume we know what’s best for our customers. Constructive feedback ensures that we stay on the same page as them and work towards the right outcomes.

Investing the time to learn from customer experiences and insights actually saves time in the long run, as it helps us to focus our development on what’s really important.

And finally…

Talking of how feedback shapes what we do, we recently announced our latest developments. Based on feedback from our users (of course), you can see a round-up of the improvements here.

Oh, and if you’re currently using Timeline to bring your clients’ retirement journeys to life, keep an eye out for our annual user survey. Your feedback will shape the future development timeline for Timeline.

References

(1) https://www.inc.com/jana-kasperkevic/bill-gates-proper-feedback-is-key-to-improvement.html

(2) https://uk.business.trustpilot.com/guides-reports/build-trusted-brand/why-and-how-social-proof-influences-consumers

Marketing Manager

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