Customer satisfaction can make or break your business. Your business should revolve around ensuring the highest level of customer's happiness.
Ensuring a high level of customer satisfaction can ensure that customers keep coming back to your stores. A low level of customer satisfaction means that you are at risk of losing customers and eventually, losing revenue.
Therefore, it is important that you are regularly tracking customer satisfaction and making sure that it stays high or at a satisfactory level.
Studies have shown that 84% of companies that invested in customer satisfaction reported an increase in revenue.
So what are some of the ways that you can measure and improve customer satisfaction for your business? You can start by collecting customer feedback, analysing customer feedback, and then acting on them. Here’s how you can easily do that:
1. Collect customer feedback
In the age where customer experience takes centre stage, many businesses have been actively seeking customer feedback to improve their products and services. Brands like Hyatt, Uber, Dell, Apple, AirAsia, Under Armour - all almost immediately reach out to customers to ask for reviews or feedback.
There are a few ways to do it. You can use the Net Promoter Score, the Customer Effort Score (CES), the Customer Satisfaction Score (CSAT), and more. Each of these tools can be used to gauge how customers feel about your product or service in a different way.
For example, the CSAT is used to measure customer’s overall satisfaction. The CES is used to measure the effort that customers need to put in in order to get your product or services.
You can also encourage customers to leave reviews on your website or social media pages. In return, you may award them with some points or freebies. These reviews can be extremely important not only for you to learn about your products and services - but to also attract new customers.
Studies have shown that a new customer expects to see at least 40 reviews before they decide that your product or service is legit!
2. Analyse the feedback received
There’s plenty that you can learn from customer feedback. Aside from helping you measure customer satisfaction, it’s also a way to show customers that you care and value their feedback. From there, you will be able to create the best customer experience for them and improve your customer retention rate.
Look through the feedback given. Pick out the positives and negatives. The positive feedback, or the compliments, will show you your strengths. This is what you need to do more of. The negative feedback will show you your areas of improvement.
For example, when customers want to buy from you - can they easily pay through cards and e-wallets - or do you only accept cash? Do you provide free parking? Do you have an express check out lane? Is your customer service reachable? These are all information you can get from customer feedback.
3. Act on the feedback
Now that you know what your business is right and wrong, it’s time to act. Find out how you can improve on areas that customers are not too happy about. For example, improve their checkout experience by adding in more payment options and follow up with some thank you points or rewards. Provide pay & pick up services so customers can save time.
Think of ways to make things easier and more convenient for your customers. Make sure that it is easy for customers to reach your customer service support via phone, email, live chat, and so on. Customer service is one of the main factors that influences customer satisfaction!
90% of Americans use customer service as a factor in deciding whether or not to do business with a company