To facilitate a good feedback loop, especially within my teams, the most important part is to have shared language, shared understanding, and shared tools; for everyone to work from the same canvas.
In marketing — especially digital marketing — things move so fast. We're constantly working with new technologies, new pressures, new goals and new objectives, and with the increased pace of work comes a need for more feedback, more checkpoints, more approvals... and how do we add that process without slowing the work down?
It means we have to streamline the way we actually collaborate. I'd say for us, feedback is important because it allows us to know whether or not we're on the right track so we don't get to the wrong place and realise that we've been going the wrong direction for a long time, or even the right place realising that we could have gotten there quicker.