Slack, a business messaging and search app, has been a big hit: Within 18 months of its launch it had a valuation of $1.1 billion and 500,000 monthly active users.
Makes you want a piece of that, right?
Well, there is a strategy that Slack used to achieve such high-flyng success: The Slack team made customer feedback the "epicenter of its efforts."
The Power of Feedback
Whether you've already crossed your first $100,000 in monthly recurring revenue (MRR) or you're just starting out, customer feedback can serve directly as a tool for customer acquisition and, indirectly, as a tool to boost other customer acquisition channels.
Its value extends much farther than just verification of your business hypothesis—all the way to positive online reviews and personal recommendations, which are two important influencers of purchasing decisions.
In fact, consumer opinions are the third most trusted form of advertising, according to a Nielsen study: