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The Zonka Feedback Blog

Feedback Management, Feedback Trends, Feedback Technology, Data & Analysis, amazing Survey Tips & New Features at Zonka

4 Metrics You Need To Track to Measure Customer Satisfaction & Loyalty

4 Metrics You Need To Track to Measure Customer Satisfaction & Loyalty

Measuring the satisfaction of your customers is tricky business because, for the most part, they are not going to come right out and tell you. However, there are several ways that you can employ to gauge their satisfaction, and address any problems that may have arisen. One of the most valuable resource a business can have is conducting surveys and is, in fact, one of the very few ways to effectively collect customer satisfaction. While you most likely already knew that, are you using all of the metrics available to you? The Metrics More often than not, businesses continue to measure customer satisfaction using wrong or insufficient metrics. Measuring the right customer satisfaction metrics, on the other hand, can help you promptly know how you're doing, about your customers' satisfaction, expectations and needs. This is your cheat sheet for the right metrics you can, and perhaps should, apply. Rate of Return The customer rate of return is one of the easiest seen metrics a business can use. In small startups and large companies, the more a customer returns, the strong the loyalty is considered to be. From a business standpoint, you need to treat each new customers like a first date - if you impress them, they will build a relationship with you. As the customer builds that bond, they will tell their friends and your business will grow through word of mouth, which indeed is one of the best forms of advertising and one that can aid any business greatly. However, that same aspect…read more
Customer Satisfaction v/s Customer Delight

Customer Satisfaction v/s Customer Delight

The business of dealing with and serving customers is tricky and unpredictable. What works for one segment of customers may not be the most suitable option for any other customer segment. To complicate matters even more, customer experience is often manifested over several “layers”, depending on how much the service delivery matches their service expectations. In an age where businesses are competing tooth and nail for every incoming customer, merely satisfying customer may no longer suffice for retaining old customers, much less acquiring new ones. Sample the following scenario: Imagine you walk into a hotel upon entering a new town, with the expectation of a clean lodging and food, and a decent ambience. Any hotel or inn meeting these expectations will provide you with satisfaction. Delight will result when a hotel exceeds your expectations of these basic necessities and possibly even surprising you – for example, arranging for your transfer when you leave, or replacing the linen in your room without your asking for it. Meeting customer expectations of service are crucial to customer satisfaction and running a business successfully, but true customer loyalty can be gained only when the service exceeds customer expectations. "Customer delight is that phase of customer experience when the service offered exceeds the service expected." While satisfied customers may leave the business feeling happy, they may not return. They may well be swayed by swanky advertisements or deep discounts offered by competitors the next time around. On the other hand, a customer who is delighted by a service exceeding his…read more
Effective Listening to Voice of Customer (VoC)

Effective Listening to Voice of Customer (VoC)

Once you have established that customer service is paramount to successfully running your service business, the obvious next step is to devise systems and procedures that can help you effectively learn, combat and manage customer grievances and any shortfalls in service levels from customer expectations. This is a complex process, though not overly so, and can be succinctly summarised in the following points: Being concerned The very first step is to view each customer as a potential detractor, and thus being concerned about any untoward reviews from them. Studies have shown that a single negative review can offset 12 positive reviews. This puts an ever greater pressure on management and support staff to be actively involved with each and every customer, so that no customer leaves disgruntled. The caveat here is that being concerned alone won’t solve the problem, unless supplemented with the following actions. Installing effective feedback tools An effective listening to voice of customers would work only when effective tools to collect feedback are in place. While the definition of ‘efficiency’ in the context of feedback collection tools may be subjective, there are three things that any feedback collection mechanism must provide for it to be deemed worthy of consideration: Ability to capture vast amount of data - Only an innovative and unconventional feedback collection method will excite customers to leave their feedback. Ability to manage all collected data - A massive amount of data is meaningless if not stored in a format conducive to drawing business insights and trends of customer behaviour.…read more
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