What is Customer Feedback Management?
Customer Feedback Management (CFM) refers to web applications or portals that are supposed to help companies use ideas from customer feedback and turn them into future products or developments. In this way, customers are indirectly involved in the product development process. This customer-centric approach can help businesses grow.
CFM is an organized or central opportunity for companies to receive customer complaints, ideas, suggestions or inquiries and implement them in products. The aim is to use customer feedback to expand services and products in such a way that they can address customers. CFM software helps to collect, organize and analyze customer feedback so that companies can better react to market changes and meet customer requirements.
Feedback analysis, polls and surveys as well as idea management are the three areas in which CFM specializes. These tools help companies to collect customer feedback and analyze the data for future developments. CFM software often examines all of these sources of customer feedback to obtain data. Some CFM software even allows business partners, customers, and employees to interact and collaborate on product development.