It is highly unlikely that unhappy customers can come back and purchase from your company again. For any business, the number one goal is to ensure that you have happy customers. For businesses that meet this objective, they quickly grow and scale their products and services, while those who don’t take time to take care of their customers stagnate and close shop.
Customer satisfaction is supposed to be the number one objective. However, it is not well presented in companies as a measurable metric. For some companies, measuring customer satisfaction is not an easy thing to track because of the number of variables associated with a variety of businesses. For instance, measuring guests on a website, or revenue streams makes it hard to have clear-cut goals.
Since this is a struggle for many companies, there are excellent methods that are designed to help businesses with this metric. Let us look at five analytics that you can apply to your business.
Customer Satisfaction Score (CSS)
This score is a standard metric used to measure customer satisfaction because it asks the customer to rate their satisfaction with a product or a service. The score of your CSAT is an average of the responses from your customers.
The scale usually ranges between 1 to 3, 1 to 5, or 1 to 10. Any range that is above 10 is not practical, due to the differences in the culture of how different people rate satisfaction. According to an article in Psychological Science, people in individualistic countries responded more on extreme sides compared to those in collectivistic countries.
For instance, an American is more likely to rate a product as “Fantastic” or “a failure,” but in Japan, they will stick to “okay” or “not satisfying.”
Customer Satisfaction Survey
The customer satisfaction survey is a standard data collecting metric used to measure the happiness of a customer. It comprises of questions that ask the customer how satisfied they are with a service using three significant variations.
Long- Email Surveys
Email surveys are a useful tool for gathering in-depth insight into the happiness of your customer. The downside of email surveys is that they have low response rates, but they allow the customer to take their time to answer different questions. For instance, Google Forms is a great tool to use.
In this method, you need to integrate a short feedback survey of no more than two questions, and it offers one with the highest response rates because the customer is asked about their opinion while they are engaging with the company.
This survey involves a customer’s satisfaction with service received. The questions are asked after delivery is done while the service is still fresh in their mind. It can be done either via a live chat or email support.
Net Promoter Score (NPS)
The NPS is a metric that scores the likeliness of a customer referring someone else to your product or services, and it is the most popular loyalty program. Companies measure the likelihood of a customer referring someone to them using a scale that starts from 1 to 10.
The most important aspect of the metric is it’s not feedback based on emotion. It is about an intention that can be quickly answered. This metric dissects if the product or service you are providing is good enough for someone to ask their friends to use, at the expense of their reputation.
To calculate it, take the percentage of the respondents who are in the ‘promoter’ category 10 to 9, and subtract the ‘detractors’ 0 to 6.
Social Media Monitoring
The relationship between customers and business is crucial in social media. Before the advent of social media, people used to share their poor experiences with their family members and friends. But now, it is easy to reach millions of people with a push of a button. Social media platforms are an excellent place to see what your customers are thinking about your company.
Customer Effort Score (CES)
This metric does not ask customers for their likeness or satisfaction. It records the effort they applied for their issues to be resolved from a scale of 1(low effort) to 7 (high effort). The aim is to lower the average score. Most of the customers who have a high effort score tended to reduce their loyalty in the future, but those who had low scores were loyal.
The idea is to challenge the concept if quality customer service equates to surpassing the expectation of customers. This process will empower you to better place your efforts. You want to make the experience of the customer as comfortable as possible. You also want to ensure that problem resolution is resolved quickly. Once you begin to measure, you will start to optimize. This optimization will turn out to be the best investment you will make for your business.