Utilizing negative input to strengthen business strategies

Published By | Oct 8, 2019 | Business Law |

Businesses are often the recipients of a consistent flow of feedback that comes from customers, investors, competitors and even management within their own company. Analyzing this feedback and understanding its intent is critical for businesses to be able to improve and strengthen their image. For Colorado businesses who receive negative feedback, their ability to see the value in criticism may help them to discover areas where improvements can be made to better their strategy and ability to provide what their customers want. 

One of the most important steps that businesses should take when confronting negative criticism is to actively listen from an objective point of view. Listening intently and responding with inquiries where effort is made to understand the disgruntled party is imperative for a business to demonstrate their commitment to finding and implementing a solution. In situations where a business has received a particularly daunting piece of criticism, emotions may prevent them from responding respectfully and objectively for a period of time. This is when it is best for those who are responsible for responding to take a step back and articulate a thorough and cordial response before saying anything at all. 

Companies who instantly disregard any negative feedback as excessive, inaccurate and trivial may actually be doing a disservice to their organization. On the other hand, those that utilize criticism to recognize their potential and the places where modifications could optimize their ability to perform better may see a noticeable difference in the loyalty, support and positive feedback they receive from their customers. 

If a company is experiencing legal concerns stemming from disgruntled customers, they may wish to work with an attorney to identify solutions. With a legal professional who understands the details of business transactions, companies may be more successful at protecting their assets as they strive to perform their best. 

Source: Forbes, “Using Negative Feedback To Improve Your Business,” Hannah Trivette, Oct. 4, 2019