How can companies effectively leverage customer feedback to drive innovation and improve their products or services?

Companies can effectively leverage customer feedback by actively listening to their customers through surveys, feedback forms, social media, and customer service interactions. They should analyze the feedback to identify common themes, pain points, and areas for improvement. Companies can then use this information to prioritize and implement changes to their products or services, ultimately driving innovation and meeting customer needs more effectively. Additionally, companies should communicate with customers about how their feedback is being used to show that their opinions are valued and to build trust and loyalty.