Feedback Loop For Your Product Development

Although lots of companies have all of the ideas on how to collect feedback from their customers, the actual struggle is knowing how to build diverse feedback loops that will provide both actionable and valuable information.
You may be wondering what feedback loops have and why is it that some product teams must make use of them.
What Are Product Feedbacks?
According to Eric Ries. author of Lean Startup, the fundamental activity of a startup simply centers on tuning, ideas, and concepts into products, measure just how the customers will react and then learn if at all to persevere or to pivot.
However, bear in mind that the product feedback loop is referred to as the process of taking customer feedback from time to time and improving that product but it will be based on the opinion of the customer.
The creation of early-stage ideas can assist in creating product feedback. According to Ben Garner, there are some cost-effective ways to go through this and they include the use of brochures, UI mockups, and even datasheets.
Furthermore, if your goal is simply to test out the functionality, you will have to create just enough in a bid to deliver the sort of outcome that your users can react to.
Nonetheless, if your goal is to test the product’s fit and finish, you need to create the product to be close to its intended design.
At the end of the day, the goal is practically to build something to place at the front of users.
Measuring Your Product Feedback
There are ways in which you can successfully collect customer feedback and start your feedback loop on your product. They include:

• Customer Interviews

Note that, carrying out interviews with customers is not outdated or old fashion. Rather, it is invaluable to the product teams when it comes down to learning about the needs of users, their problems, desired solutions and pain points.
However, the actual value of all these interviews simply lies in the difficulty of the feedback you will get to receive.

• Customer Surveys

This is a vital part of all product feedback loops. It is important because most of them are carried out either when they are making use of a product or immediately after using the product.
Additionally, there are diverse types of customer surveys you can make use of. They include:
1. NPS SurveyAlso known as the Net-Promoter score, this survey is used in measuring the loyalty of customers. It is, however, the most popular survey type.
2. CSAT SurveyKnown as the customer satisfaction score survey, it is used in measuring nothing else but customer satisfaction.
Nonetheless, in creating the best product for your consumers, you will need to verify diverse solutions based on your feedback. At the end of the day, you are brought right back to your feedback loop. The process is non stop.
But if surveys are too official and costly for your startup, consider adding a feature request option. Many startups now offer their customers an option to send in a feature request. Your customers should be the ones who know what features you need to add to your product. After all, they probably spend more time with your product than you do. 
Conclusion
At the end of the day, feedback loops are very vital for your product development. Also, feedback loops that are well developed will help you in storing highly valuable information, administering important changes and even building a product that consumers will utilize and love.

https://medium.com/product-to-product/creating-effective-customer-feedback-loops-for-product-teams-63e06416b5b
https://www.sachinrekhi.com/designing-your-products-continuous-feedback-loop
https://www.visioncritical.com/blog/how-to-shorten-the-customer-feedback-loop-for-agile-product-development
http://theleanstartup.com/principles
https://customergauge.com/blog/how-to-calculate-the-net-promoter-score
https://blog.hubspot.com/service/customer-satisfaction-score