It’s expected that building upon an existing relationship with a client is much more efficient than acquiring new ones. That’s why the customer retention metric is so important. Therefore, companies put large amounts of resources into customer support. Conducting surveys is an excellent way of exploring how your customers feel about your service. Furthermore, it’s a perfect tool to get feedback.
Measuring customer satisfaction allows you for the assessment of how your company copes with customer retention among the competition. Several metrics enable you to measure that. It’s essential to know if what you’re doing right now lets you keep as many customers coming back as possible.
How to conduct the surveys?
You can do this in multiple ways. For instance, you can conduct them as the customer is in the app and is actively using it. While this method is suitable, you will have to implement it in a way so that it doesn’t distract and disrupt the customer’s work.
Secondly, another way is to schedule emails that will be sent sometime into the customer’s lifetime with your service or product. It’s a good practice to ask some more detailed questions about your business. While people tend to not respond to such surveys, it never hurts to hear some opinions at least from a few of them.
The third way is the post-service survey. That’s pretty straightforward. You ask the customer right after the service you provided.
Finally, a good practice is implementing a text box for the customers to leave their feedback voluntarily.
What are the metrics?
The most popular metrics used to measure clients’ satisfaction include:
Net Promoter Score
Net promoter score (NPS) is a metric that focuses on the aspect of the recommendation of your
services to another person by an existing customer. The question in the survey is as follows:
“How likely are you to recommend us to your friend on a scale 1 to 10?”.
Now, the respondents are divided into three groups. People who said 9 or 10 are in the group of promoters. Next, the 8’s and 7’s are in the neutral group. Anyone in the from 1 to 6 is in the detractor division.
Lastly, subtract the percentage of promoters from the detractors.
It’s a metric that’s straightforward and allows you to see a little bit into the future.
Unfortunately, unhappy customers tend to respond more often than happy customers. It’s easier for people to denounce a company than to recommend it. A low Net Promoter Score enables you to focus on areas that need refinement and can help you make unhappy customers impressed. While having a high NPS lets you see what you do right in particular aspects of your service.
Customer Satisfaction Score
Customer Satisfaction Score (CSAT) is very basic. It consists of the question “How would you rate your experience interacting with us?”. The ratings typically include very unsatisfactory, unsatisfactory, neutral, satisfactory, very satisfactory, or a score from 1 to 5. Anything above three or satisfactory is a point. The more positive answers, the higher you score. Straightforward enough.
CSAT is flexible, as it can help you assess virtually any aspect of your company’s workings. It’s excellent for looking at short-term changes before and after switching to something new. If you score low, then you know that something is wrong and you need to make appropriate fixes. While if you score high, then you can be sure that you made the right decision.
Consequently, because CSAT is so basic, the results won’t tell you about the growth potential and won’t predict your customers’ behaviour at all. Moreover, the results are most often pretty biased, too, as people who were moderately happy or unhappy with your service will tend to leave without answering the question. Again, dissatisfied customers are more likely to answer the question.
Customer Effort Score
This metric is a little bit more complicated, as it focuses on the effort your customer had to put in to get their problem fixed or fulfil expectations. The question looks like this: “How hard you had to work to get service rendered/answered/problem fixed?”.
The scale goes from 1 to 10, and the lower the score, the better. This metric tells you how good your company is at keeping things effortless on the part of the customer.
Going only for customer satisfaction is a good tactic, but only up to a point. There comes a time where you can’t do anything more in that aspect, and the previous metrics will tell you when that happens. Thus, when it comes, you will have to focus on becoming a business that provides their services without virtually any effort on the part of the customer. Well, at least aim at that.
As you see, there are a few things to consider when measuring clients’ satisfaction. It’s not that hard, as there are easy and straightforward metrics and indicators of just that. It’s crucial to use many metrics, not only focus on one, as one will not tell you all the things you would need to know.