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

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

Other surveys peg the successfulness of a business based on the interpretation of customers’ feedback. 

According to Forbes, customer feedback should be seen as an ongoing conversation that provides insights into the evolving needs and expectations of the audience. By fostering this conversation, businesses can create products and services that resonate with customers, increasing satisfaction and loyalty.

According to research, there are 26 unhappy consumers for every satisfied customer, and businesses address only four percent of customer complaints. It insists that by collecting feedback and acting on them by listening to the voice of customers, companies can address unhappy customers’ needs, which increases customer satisfaction scores.

Businesses have always been collecting customers’ feedback. Verbal and direct feedback has been used for years but as in today’s competitive environment, businesses must provide their customers with a seamless and personalized experience. Some businesses prefer traditional surveys, which provide valuable insights into customer experiences, such as satisfaction, product features, or customer service, conducted via emails, or phone calls. 

Others target focus groups, asking them to comment on a good or service. These entail one-on-one talks with individuals over the phone or in person. In the spirit of cost cutting and efficiency, online surveys embedded on a website, or shared on social media give quickest feedback at almost zero cost. This has replaced phone calls mostly used at the beginning of the millennium. 

However, in a highly digitized and innovative world, Chabot customer services designed to elicit information and ask particular questions about products, services, or user experiences are widely used. Chatbots give organizations an affordable option to get real-time customer insights and can be accessed 24/7.

At Jubilee Health Insurance, we employ a cocktail of methods specific to our diverse clientele. However, as the Internet penetration continues to grow within our markets, we continue to cut on paper feedback in line with our commitment to environmental conservation charter. 

Feedback received has enabled us rollout some of the best products in the market. This has been very vital in our on-going “Always With You” programme launched mid last year, a value proposition that aims to make healthcare more accessible and convenient our customers. 

This initiative will allow customers to visit their local pharmacy branch for a teleconsultation with a doctor, ensuring they receive the medical attention they need without added hassle.

Besides customer satisfaction, a clear feedback and response platform leads to brand loyalty, with research showing that 86 per cent of loyal customers recommend the company to friends or family, 66 per cent write positive reviews, and 46 per cent remain loyal even after a negative experience. 

Customer feedback is also raw fodder for marketers, with a whopping 85 per cent indicating that collecting and analyzing customer feedback enables businesses to identify common pain points to be addressed.

Companies can also spot patterns and trends in customer feedback, like recurring complaints or improvement requests, and they can turn them into actionable feedback. Given the impact on customer success and the possibility of revenue development, organizations can use consumer data to rank improvement areas. 

As business leaders, we must recognize that every piece of feedback is a window into our customers’ evolving needs and expectations. Ignoring these insights isn’t just risky—it’s a missed opportunity to lead and transform.

As we dive into 2025, let us rethink how we approach feedback. Instead of resisting criticism, let’s embrace it. The most successful companies are those that turn negative feedback into positive change. 

Customers don’t always leave because they found a better alternative—sometimes, they leave because they feel unheard. Let’s ensure they don’t have to. The future belongs to those who listen. Let us embrace customer feedback as the cornerstone of innovation and growth—because ignoring it comes at a cost no business can afford.

By Monica Chege – Head of Marketing and  communication at Jubilee Health Insurance.