Every business aims to deliver the best customer service but how often do you assess whether customers are willing to purchase your product and services again? How often have you tried to determine how happy are they with your services?
Customer satisfaction is the toughest concept to measure and often requires an in-depth analysis of preferences, expectations, and opinions. It takes a month to find a customer and just seconds to lose one so making efforts to win them and then retain them is a challenge that all businesses face.
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Customers boost your business and their satisfaction is one the best indicators of showing how likely they will purchase from you in future.
If your customers remain unsatisfied, there are chances that 89% of them may stop doing business with you.
(Source: http://www.oracle.com/us/products/applications/cust-exp-impact-report-epss-1560493.pdf). Hence, it is imperative for every business to regularly measure customer satisfaction in order to improve it.
Best way to measure Customer Satisfaction
A customer satisfaction program is more than just conducting customer satisfaction surveys or directly contacting customers to understand what is going right and what is not. Developing an ideal customer satisfaction program involves steps that give results which are financially beneficial, leads to higher market share and stronger brand reputation. So what are the best ways to measure customer satisfaction? Here are 5 simple steps that any business can adopt in order to devise a full proof customer satisfaction program.
1. Listen to your experts – Employees
Your employees are the preliminary source of information when gathering customer satisfaction data. Employees deal with customers constantly and they know the ‘pain points’ of first-time customers and the ‘happiness button’ of repeat customers. Often employers ignore this valuable source of feedback due to which efforts to collate accurate customer feedback through other means turn out to be futile. Start the loop of the customer satisfaction program by listening to employees on what customers really expect and use this insight to alter the way processes are executed.
2. Customer Surveys
A business must keep its existing customer happy in order to thrive. But we all know that customers are very busy and most of them hesitate to either fill lengthy feedback forms or partway with personal information. What do you do in that case? How would you know about your customers’ happiness unless they contact you themselves and share their concerns or complaints? Customer surveys are one of the best voice of customer methodologies to gauge that crucial insight into customers’ behaviour.
What delights them about your product and service and what keeps them dissatisfied is the crucial information that can be easily culled out from customer surveys. However, if you are confused about questions that need to be asked for accurate feedback then signing up for Zonka’s customer satisfaction survey template can be a handy tool that easily discovers bugs or understand why a particular customer is checking or upgrading, helping you improve customer experience in a faster and an easier manner. Zonka is a multi-channel feedback and customer satisfaction survey app that pans across the online survey, in-app survey and offline survey via SMS that captures customer feedback in real-time in a crisp and specific manner. Two of the most popular metrics that these customer surveys rely on are:
- Customer Satisfaction Score (CSAT)
If a business knows what its customers expect then it becomes easier to fix the bugs and offer an enjoyable experience. The customer satisfaction score measures the short-term happiness or despair of your valuable customer.
Do you recall how often you are asked to scale service on a typical range of highly satisfied to highly unsatisfied at the end of a feedback form in a restaurant? That score, when collected from the desired number of customers and averaged, is the CSAT that businesses can relate to.
Though mentioned earlier, CSAT measures short-term happiness and so a quick thumbs up or thumbs down by a customer on the basis of the latest experience does not help much in gauging the long-term satisfaction or loyalty. Let’s dig deeper into what could be other feasible solutions then.
The customer satisfaction score can be easily calculated by sending these satisfaction surveys through a customer satisfaction survey app. Such apps not only will give you scores in real-time but will also perform real-time analysis of the received data that can further help to make decisions.
- Net Promoter Score (NPS)
On a scale of zero to 10, with 10 being highest, what’s the likelihood that you would recommend us (our company) to a friend or colleague? This was the most basic and now most popular NPS question created by Bain & Company. Businesses using NPS as a metric to measure customer experience is highly effective in gathering customer feedback.
Wondering what does the NPS score mean? If a customer has rated you as a nine or 10, he is a promoter and is likely to recommend you to others. If the rating lies somewhere between six and eight, then the customer has still not decided whether he wants to stick to you or leave you and if the rating is lower than six then it is probable that the customer is a detractor and immediately needs your attention in offering a greater customer experience.
3. Analyze customer feedback
Once you have collected customer feedback and received a score, it’s time to scrutinize the data and gauge customer loyalty. Segregate negative and positive feedback and look at the root causes of negative feedback. This analysis will help you to continue with services and products that work for you and put together a feasible plan of action to address any issues.
4. Keep a tab on your social media pages
Customers, these days, waste no time in posting a Facebook rant or making their angst viral via Twitter or other social media pages. Rather than expressing their disappointment with your product and service directly or over a call, customers prefer to raise their issue on social media and discuss it with influencers. Result: your minor carelessness in providing the best customer experience reach millions of people within seconds.
It is therefore pertinent to track your Facebook, Twitter, LinkedIn pages to keep a tab on any issues besides monitoring Quora, Reddit and other tools that help you track your brand’s performance on social media.
5. Assess your competition
Getting complacent after the completion of customer feedback would be a bad idea that would backfire on you in no time. Once you have found out where you are failing and what is working for you, the next best step is to know why your customers prefer another brand over you. What is it that they are offering and what makes your customers flock to your competitor?
The entire process of measuring customer satisfaction may look unmanageable initially but honestly, nothing satisfies a business more than knowing whether their customers are really getting what they want, when they want and how they want. Satisfied and returning customers not only help inconsistent monthly revenue but also bring in new business for you. Customer satisfaction and its success are therefore vital to your business health.
Learn more about Customer Satisfaction (CSAT)
- What is Customer Satisfaction?
- 4 Metrics You Need To Track to Measure Customer Satisfaction & Loyalty
- Top 5 Benefits of Customer Satisfaction
- How To Measure Customer Satisfaction With One Simple Metric
- 5 Actionable Ways to Improve Customer Satisfaction
- How to Close Feedback Loop to Improve Customer Satisfaction?
- 7 Reasons Why Customer Satisfaction Drives Better Results