How to Measure Customer Satisfaction?
Measuring customer satisfaction is essential to understanding how your customers feel about your product or service as well as your company’s overall performance. Likewise, customer feedback provides the raw data you need to identify the parts of your business that are excelling and the areas that need improvement.
There are many different ways to measure customer satisfaction but it can be tricky to determine which one is right for your business. Some common methods include customer surveys, Net Promoter Scores (NPS), and social media monitoring. Depending on the size and needs of your business, you may find that one method is more effective than another. A combination of two or more methods can also be used to get a clearer picture of your company’s performance.
Conduct Customer Surveys
If you’re looking to extract specific data, conducting customer satisfaction surveys is the way to go. Conducting surveys will enable you to measure two important customer satisfaction metrics: customer satisfaction score (CSAT) and customer effort score (CES).
The customer satisfaction score is a measure of how pleased your customers are with the product or service you’ve provided. This score is usually based on a scale from 1 to 10, with 10 being the highest level of satisfaction. The customer effort score, on the other hand, measures how much effort the customer had to put in to get their problem solved. This score is also usually based on a 1 to 10 scale, with 1 being the lowest level of effort.
Both of these scores are important to track as they can give you a good indication of how satisfied your customers are with your product or service. Keep in mind, though, that you’ll need to survey a statistically significant amount of customers to get accurate results.
Net Promoter Score (NPS)
The Net Promoter Score (NPS) is a metric that was created by Bain & Company in 2003 and has become one of the most popular ways to measure and improve customer satisfaction. The NPS is calculated by asking customers one simple question: “How likely are you to recommend our product or service to a friend or colleague?”
Customers are then asked to rate their answer on a scale from 0 to 10, with 0 being the least likely and 10 being the most likely. The NPS is calculated by subtracting the percentage of detractors (unhappy customers who answered 0-6) from the percentage of promoters (satisfied customers who answered 9-10). Passives (neutral customers who answered 7-8) are not factored into the NPS score, because they are not likely to either recommend or dissuade someone from using a product or service.
NPS Surveys can be distributed at various stages of the customer journey, allowing you to track customer satisfaction at different points in the buying process. You can also use NPS to compare customer feedback between product lines, channels, or customer segments.
Social Media Monitoring
With over 4 billion people using social media around the world, it’s no surprise that businesses are turning to different social media platforms to gather customer feedback.
In fact, you can use social media monitoring to track customer satisfaction levels in real-time. By using social media listening tools like Hootsuite or Sprout Social, you can quickly identify any negative sentiment about your brand and take action to resolve the problem as quickly as possible. These tools are a great way to collect customer satisfaction data, but they can also be used to track customer engagement, brand awareness, and more.
If you want to accurately measure customer satisfaction levels, you should also take a look at your brand’s reputation online. Online reviews are a great way to get an overall picture of how your customers feel about your business. Check out review sites like Yelp, Google, and TripAdvisor because these are where customers share their thoughts about the businesses they’ve interacted with. Alternatively, you can also set up Google Alerts to track any mentions of your brand online.
Increase Customer Loyalty and Improve Customer Experience
Knowing what metrics measure customer satisfaction is one thing, but actually improving customer satisfaction is another. If you want to increase customer loyalty and improve customer experience, there are a few things you can do:
Make It Easy for Customers to Give Feedback
If you want to collect accurate feedback, you need to make it easy for customers to take your surveys. Make sure your surveys are short and easy to complete and offer an incentive for customers to take them. You can also make it easy for customers to give feedback by including a link to your survey in your email signature, on your website, or in your post-purchase follow-up emails.
Make Sure Your Customer Service is Up to Par
If you want to improve customer satisfaction, you need to make sure your customer service is up to par. This means resolving customer complaints quickly and efficiently. If you have an in-house customer support team, make sure they are properly trained and have the necessary resources to resolve customer issues as quickly as possible.
Outsource Your Phone Answering Needs
Instead of sending cold emails to potential survey respondents, you can actually take advantage of AnswerHero’s customer survey feature. In addition to answering calls, taking messages, capturing leads, and more, AnswerHero agents can also help you conduct a customer satisfaction survey before ending each call, allowing you to gather feedback while the customer is still on the line. AnswerHero’s survey feature is a great way to increase response rates and get accurate feedback from your customers.
As businesses continue to compete in a global economy, it’s more important than ever to track customer satisfaction levels. By using the above-mentioned tools and techniques, you can gather the data you need to make informed decisions about your business.