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

Innovation
Companies can leverage customer feedback by actively listening to their customers' suggestions, complaints, and preferences. This feedback can provide valuable insights into areas where products or services can be improved. Companies can also use customer feedback to identify trends and patterns that can guide their innovation efforts. By incorporating customer feedback into their decision-making processes, companies can ensure that their products or services meet the needs and expectations of their target audience.