Are you looking for fresh ideas? Are you losing customers or looking to expand? One approach is to ask your existing customers what they want. But before you do, ask yourself, are you really prepared to act on the feedback?

My doctor’s surgery asked me for feedback, “Could you get an appointment within two days? Why not?” Good question, why not? I wish I knew the answer!

Another recent example, talking to a share broker that was looking for product ideas. When I said, “longer hours so that I can trade the US markets” the response was, “no sir, because then we would have to employ staff out of hours”. Well yes, whatever product you bring you’re going to have to work at it.

Feedback is critical to the process of change. If you’re going to be apathetic or to place unreasonable constraints - to close your mind - then you must question the strength of your conviction for change.

Asking for feedback is a great opportunity to reconnect with your customers. However, failing to adequately respond can have a significant negative effect on your customers.