Thinking of a robust SaaS product development strategy that can give you an edge in the industry? It’s time to prioritize customer feedback! Product improvements stem from innovations, and this is possible when you value the evolving preferences of your customers.

In this blog, we will guide you on how to leverage the power of customer feedback for developing SaaS products.

Your product strategy and development are largely an outcome of your efforts to customize products whether it is a large electronic item or a collection of funko pops.

A customer-centric stance on your end can go a long way in incorporating strategic features into your products. No wonder, why gathering customer feedback is imperative for SaaS product development.

Remember, 93% of customers tend to make repeat purchases if they are satisfied with customer service. Feedback happens to be a core component of your customer satisfaction journey.

When you manage to deliver a 5-star customer experience to your buyers, they are 2.6 times more likely to purchase your products.

What makes customer feedback crucial for SaaS product development?

Customer feedback proves to be a valuable resource when it comes to conceptualizing and integrating fresh features into SaaS products. Realizing the power of customer feedback, developers can transform ideas into reality.

Whether you use continuous, agile, or any other kind of methodology for delivering products, it pays to prioritize hot-button features and integrate the same in a few weeks.

Naturally, when customers find their desired features in SaaS products, they stick to your brand. Every customer wants SaaS product developers to address their pain points. Focussing on customer feedback, you can ease up friction, improve retention rates, and develop customer loyalty.

Using customer feedback and win-loss interviews to improve your product | Future of SaaS
Customer feedback and win-loss interviews are among the most effective ways to gain a firm understanding of how your product has been received, and how you can make changes, where needed.

Therefore, the power of customer feedback can help your team quickly fix bugs and integrate better features that eventually drive your sales.

Do you know that 60% of SaaS product development ideas come from customer feedback? This implies that the power of customer feedback can contribute to SaaS product development even more than the innovation of your team.

Let’s take a look at this infographic to explore different sources of product development ideas.

A chart displaying the best product and feature ideas.

This infographic shows that direct customer feedback contributes as much as 60% of new product development ideas, followed by team brainstorming, market research, competitor products, sales team, and executive orders

As a SaaS product developer, it pays to understand what your customers want. Feedback in the real world helps in identifying potential shortcomings. Real SaaS product development cannot be backed by guesswork, right?

Evaluating customer feedback helps your team understand the frustrations, concerns, and needs of your customers. This way, you can make your software market fit even faster.

Scope of SaaS product development on evaluating customer feedback

The core logic behind realizing the power of customer feedback is to understand what drives their purchase decision. Evaluating their feedback also enables developers to understand their thought processes and needs.

So if you own an international eCommerce platform, it makes sense to interact with your clientele directly through live chat widgets, interviews, customer agents, or social media platforms.

Proper feedback from your customers can help you unlock the hidden potential to improve your product or introduce new features. Besides, by addressing bugs and issues that users are currently encountering, you can strengthen customer engagement and reduce friction.

Customer advisory boards and feedback loops [Q&A with Dropbox]
Customer Advisory Boards allow customers to give candid feedback on their experience with your company, and we spoke with Bree Bunzel, Head of Global Customer Marketing at Dropbox, who answered questions around building Customer Advisory Boards and customer feedback loops.

Here’s how customer feedback can contribute to better SaaS product development.

  • Assessing the feedback from your customers gives you an idea of their experience.
  • Developers can build a buyer’s persona based on feedback to streamline their marketing campaigns.
  • Get your product messaging and USP aligned with the requirements of your customers.
  • Come up with customized campaigns for marketing by strategizing a focused SaaS content tactic.
  • Attract target buyer personas by getting your landing pages optimized.
  • Carry out detailed qualitative and quantitative research.

How to capitalize on the power of customer feedback for SaaS product development?

Now that you know why customer feedback matters, let’s explore some realistic strategies to bank on the potential that interactions with customers hold.

Collect in-app feedbacks

Forward-thinking app-development companies integrate feedback widgets to collect responses from their customers. These responses get recorded on a feedback board for your scrutiny. Besides, you can collect in-app feedback through:

  • Dedicated feedback buttons
  • In-app surveys
  • Reviews
  • Ratings

Besides, keep the door for feedback open through voice calls and texts. Incorporate all sorts of feedback-collecting mechanisms, ensuring that you don’t annoy your customers as they use the software.

Say ‘yes’ to a feature request

When it comes to prioritizing feedback for SaaS product development, developers often fear too many feature requests. Once you open up your doors for feedback, it might open up the floodgates for new feature integrations.

Rather than fearing too many changes in the existing product, it’s logical to visualize what your customers expect.

Of course, you won’t be incorporating a feature simply because someone asks for it. Let your team brainstorm over the product feature suggestions. Banking on the power of customer feedback, you can tweak the existing capabilities or introduce some new features in the next version.

Customer success metrics that drive 95% retention
In this article, I’ll be discussing the customer success metrics you should be tracking at each and every stage of the customer lifecycle. With them, you can drive retention and ensure your customer success function is successful in delivering value to the customer.

Carry out usability tests

Usability tests can give you a comprehensive idea of how comfortable your customers are with the existing version. As a part of usability tests, you need to give a set of tasks to selected customers. As they proceed, they would continue talking, which would serve as a running commentary on what they decide and observe.

Therefore, a usability test session unlocks several opportunities for developers to fix glitches quickly and address the long-term requirements of the users.

Wrapping up

Now that you know how the power of customer feedback influences SaaS product development, it’s time to deploy effective means of collecting this feedback. Consider exploiting social media channels to feel the pulse of your customers.

You can also set up customer advisory boards and evaluate their expectations. Your SaaS product development would remain incomplete without adequate input from the users.

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