Ignore customer feedback at your own peril

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mer feedback has and will always be far more than a post-transaction formality—it is a strategic asset that, when harnessed effectively, drives innovation, deepens customer loyalty, and secures a competitive advantage.

A report released last month by a US-based consulting firm revealed that 90 per cent of customers read online reviews before visiting a business website, and 88 per cent trust these opinions almost as if they were personal recommendations.

This statistic alone highlights the power of customer feedback in shaping business success.

Other surveys reinforce the notion that a company’s ability to interpret and act on customer feedback is directly linked to its growth and sustainability.

According to Forbes, customer feedback should be seen as an ongoing conversation that provides valuable insights into the evolving needs and expectations of an audience.

By fostering this dialogue, businesses can create products and services that resonate with customers, increasing both satisfaction and long-term loyalty.

Silent churn

Research further shows that for every satisfied customer, there are 26 unhappy consumers, yet businesses address only four per cent of customer complaints.

This means that most dissatisfied customers remain unheard, leading to silent churn.

Companies that actively collect feedback and implement meaningful changes can bridge this gap, improving customer experience and boosting overall satisfaction scores.

Businesses have always recognised the importance of customer feedback.

Traditionally, verbal and direct feedback has been the go-to method, but in today’s competitive landscape, companies must evolve to provide a seamless and personalised customer experience.

Some still rely on traditional surveys—conducted via email or phone—to gather insights into satisfaction, product features, or customer service experiences. Others take a more interactive approach, engaging focus groups for in-depth discussions on specific products or services.

To optimise cost and efficiency, many organisations have transitioned to online surveys, embedding them on their websites or sharing them across social media platforms for instant feedback at almost zero cost. These digital methods have largely replaced phone-based surveys, which were more common in the early 2000s.

At the forefront of this digital transformation are chatbots, designed to ask targeted questions and collect customer insights in real time.

Chatbots provide businesses with an affordable, 24/7 customer service option, allowing for immediate feedback and faster resolution of issues.

At Jubilee Health Insurance, we employ a mix of these methods, carefully selecting feedback channels based on the unique needs of our diverse clientele.

Environmental conservation

As internet penetration continues to grow across our markets, we have actively reduced reliance on paper-based feedback, aligning with our commitment to environmental conservation.

The insights we receive have been instrumental in shaping some of our most impactful innovations, including our “Always With You” programme, launched in mid-2023.

This initiative enhances healthcare accessibility by allowing customers to visit their local pharmacy for teleconsultations with a doctor, ensuring they receive timely medical attention without unnecessary hassle.

Beyond improving customer satisfaction, a well-structured feedback and response system strengthens brand loyalty.

Research shows that 86 per cent of loyal customers recommend a company to friends or family, 66 per cent write positive reviews, and 46 per cent remain loyal even after a negative experience—provided their concerns were heard and addressed.

This underscores the role of customer feedback in shaping long-term brand perception and advocacy. For marketers, customer feedback is a goldmine of insights.

Studies indicate that 85 per cent of businesses that actively collect and analyse customer feedback can identify common pain points, allowing them to refine their offerings.

By tracking recurring complaints and improvement requests, businesses can transform raw feedback into actionable strategies that enhance customer success and drive revenue growth.

As business leaders, we must acknowledge that every piece of feedback offers a valuable perspective on our customers’ evolving needs. Ignoring these insights is more than just a missed opportunity—it can be a costly mistake.

Too often, leaders get defensive about negative feedback, dismissing it as propaganda aimed at tarnishing their brand. But what if those tough comments hold the uncomfortable truth our businesses need to hear?

When customers voice concerns, they aren’t just complaining—they are offering us a second chance to get it right.

valuable insight

The customers who remain silent simply walk away, and we never get to learn from their experience.

Meanwhile, the ones who take time to express their dissatisfaction are handing us valuable insight that can drive real improvement.

As we progress in 2025, it’s time to rethink how we approach customer feedback. Instead of resisting criticism, we should embrace it.

The most successful businesses are those that turn negative feedback into positive transformation.

Customers don’t always leave because they found a better alternative, sometimes they leave because they felt unheard. Let’s ensure that they don’t have to.

The future belongs to those who listen. Let us make customer feedback the foundation of our innovation and growth—because ignoring it comes at a cost no business can afford.

The writer is head of marketing and communication, Jubilee Health Insurance