The race for CBD dominance has well and truly started. The Hemp Business Journal estimates that by 2022, the industry is expected to be worth an estimated $1.3 billion. There are now countless companies vying to capture a piece of that growth by delighting their customers with amazing products.
There are a range of techniques you can use to secure CBD success. In this post, we’re going to take a closer look at customer feedback. We will assess which data you should be collecting, how you should collect it and how it can be leveraged to help you seize success.
Which Pieces of Customer Feedback Are Most Important?
There are a few areas of customer feedback that are absolutely critical. Here’s a closer look at those areas and why they are so important.
Efficacy
When it comes to the key desires of your customers, studies show that the efficacy of CBD products is the most important factor to them. This means that if your product is not effective, you will find that your customers quickly abandon it and you’ll fail to achieve success.
It is important that you constantly check on how your product performs for given groups of people. Detailed data in this area is incredibly valuable and if you invest properly in terms of time, effort and resources, you’ll find yourself head and shoulders above your competitors.
Price
The CBD industry is flourishing quickly. As with any nascent industry, pricing is a complicated area and it takes time to stabilise: there is a huge range in terms of pricing so you might find that both yourself and your customers are a little lost.
To make sure that you’re on the right track, it is important that you collect feedback from your customers when it comes to the price of your CBD products. This will help you to constantly reassess your offering and stay competitive, adapting to the changes on the market.
Don’t be worried about being expensive: studies show that customers are willing to pay for quality CBD and wellness products. If you can articulate and demonstrate the value of your product, you will find that your customers will be happy to pay higher prices.
Quality
Of course, you should regularly collect feedback from your customers when it comes to the quality of your CBD products.
CBD and efficacy are distinct: in this area, you should be verifying what your customers think and feel about your product in general. Does the branding and packaging meet the needs of your customers? Does it have a premium feel that justifies the price?
If you understand the perception of your product in these areas, you will be able to make adjustments to stay ahead of the crowd and meet the demanding expectations of your customers.
Branding
In a competitive nascent industry, many of your potential customers are making decisions based primarily upon branding and social proof. Your brand has to hit the mark and resonate with your potential customers if it’s going to achieve any level of success.
You should feel confident coordinating branding workshops and focus groups in order to acquire valuable customer feedback. This can help you to create a brand that resonates with your audiences – rather than shooting in the dark, you’re going to be making informed and intelligent decisions based upon fact and data.
How to Collect Customer Feedback on CBD Products
Getting quality customer feedback is a challenge for every company, regardless of your product or niche. The digital age has opened up more avenues than ever before, though, and there are a lot of ways for you to connect with your customers.
Here’s a look at some of the key methods that you can use to get feedback on your CBD product.
01. Cultivate customer support
Customer support enables you to respond to the queries and concerns of your customers and it is your first port of call when gathering useful feedback. You should ensure that your customer support team track the frequency and nature of the queries that they receive.
You should then be sure to regularly go through this data and look for any patterns. Are your customers confused about the dosage instructions that you have provided, for example? By assessing relying on customer support, you can find out a lot about how your product and brand is perceived.
02. Offer proactive support
You don’t have to wait for your customers to come to you. You could consider reaching out delicately to your customers and asking for their feedback and thoughts. If you use the right messaging, this can support your brand and present it as a considerate and respectful company that strives for perfection.
You could include a questionnaire, a request for general comments or even provide paid incentives to receive feedback from your customers. There are lots of options open to you.
03. Monitor social channels
Social media is very important. The CBD industry is in a delicate phase of growth and a negative reputation can quickly dampen your chances of success.
You should carefully monitor social media for mentions of your brand and use Google Alerts to receive notice whenever your brand is mentioned online. Carefully monitoring public opinion can help you to shape your product to make it as attractive and refined as possible.
04. Run focus groups
Focus groups are a great way to get earnest feedback and insight into your product. You can gauge personal and group feelings more effectively using this method and also save time when compared to conducting individual interviews.
There are a range of services online that connect businesses with focus groups and you could use one of these to get a better understanding of how your brand is perceived. Focus groups are useful at key stages of your growth, so you should be sure to use them strategically.
These are just a few of the methods that you can use to acquire useful and insightful customer feedback. If you are looking for more innovative ideas we recommend this piece from OptiMonk, which offers you 20 effective methods to get quality customer feedback.
How Can You Use Customer Feedback on Your CBD Product?
Now that you have identified which data to gather and how to gather it, you’ll want to use that rich customer feedback to strengthen your product.
The actions that you take will depend on the nature of the feedback that you received. You will want to ensure, though, that you act quickly and meaningfully based upon that feedback. You are operating in a fast-moving industry and you cannot afford to lack discipline when it comes to using that feedback.
Using the feedback, you will be able to identify emerging customer needs and make your product respond to them. This makes your product more innovative and you will also be able to communicate those benefits in the terms that your customers understand.
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