Customer satisfaction is an important part of your organizational calendar today. All you do in terms of thinking, shaping, executing, must always be directed towards generating more happy customers.
A satisfied customer is like a fixed deposit fund for your business- in for a long time, generating high returns. Customer satisfaction, though highly abstract, can still be measured using various indices and questions answerable by ratings.
This gives you a show count of how loyal your customers are and whether or not you create an impression for someone they could get engaged with on a long term basis.
What is customer satisfaction?
When top marketing minds say, customer is the king, they mean it. To keep the customers satisfied, you need to constantly ask them for feedback, suggestions, surveys, etc, without making it overwhelming.
Knowing your customer satisfaction level helps you to plan on connecting with customers in a more constructive manner, the insights received from them can be put to discussion to derive a healthy conclusion from the same.
Importance of customer satisfaction
Developing a customer satisfaction program helps deliver more. It aims at matching a customer’s expectations with the capabilities of an organization.
Identifying your customer satisfaction score helps to put a stop to customer churn and attract new customers. This gives your organization a strong foothold in times of rough market competition.
The prime importance of customer satisfaction however, is to retain your existing customers. Wide ranges of offers provide a competitive edge and a little mistake on your part becomes an open invitation for customers to join the other streets.
Earning customer loyalty is the toughest part of your customer satisfaction journey as it is close to a commitment made by customers staying with the organization in highs and lows.
Measure customers repurchase score
Customer repurchase value refers to the customer’s choice of your brand to come again and make another purchase. The more the number of purchases, better is your customer repurchase score.
Only a satisfied customer would prefer to come back to you again instead of moving with your competitor for absolutely no reason. Concentrating on the frequency of repurchase over the frequency of sale is thus important.
Create a USP point highlight
If you have it, flaunt it! A simple rule for USPs says that you already climbed tough peaks obtaining a unique yet wonderful feature to add-on to your product.
Now get on top of the mountain and announce it far and wide for all your potential and present clients to listen to.
Reduce customer churn
Customer churn is usually when your competitor is working harder for your customer satisfaction than you are.
You might lose customers to your inefficiencies, your competitors’ efficiencies, and the loopholes in your operating mechanism that are noticed yet left unattended.
Improve customer lifetime value
Customer lifetime value is the benefit a customer gives to an organization in terms of revenue, sales, goodwill, and branding by becoming associated as a customer for a lifetime.
It earns an average increase of 50% revenue in ROI. Only highly satisfied customers contribute to your CLV score.
Enhance word of mouth marketing
To encourage your customers to speak about you, you need to improve your customer service to a level where they can openly admit your little efforts as well.
Only then will they truly be your word of mouth promotion. Such public acceptance leads to a strong image that finds its origins in your goodwill making it long standing.
Retention over acquisition
The cost of acquiring a new customer is almost ten times as hectic as the cost of retaining an old customer. It is thus essential that while your marketing team is targeting new customer bases, generating leads and filtering through sales; your CX and operations heads must brainstorm into introducing new features, innovating products, launch exclusive trials, and plan engagement methods to help retain customers while making them involved with your business on a personal level.
Hacks to enhance customer satisfaction score
CSAT is quite a complicated metric that in fact tries to read the abstract from your customers’ minds and traces the data out of them. This data is then turned into actionable insights.
Following are some hacks to enhance your CSAT score using simple tricks:
Knowing your net promoter score is essential to know the ratings your customers give to you. Saying that you have a good service is nice to hear but a real gem is to know if the ratings they give you match their thoughts. The rating for good service can be 6 out of 10 for someone and 8 out of 10 for someone else.
The moment your users meet a problem, they immediately expect an expert’s assistance to help them solve it. Live chat is a solution for similar situations where the available agent knowledge is fed into an automated bot response. Customers can interact on one on one basis and independently solve the problem.
Social media handles are a way to connect directly with your customers, market associates, and other relevant groups. The impact of social media posts and campaigns are so wide that its control and direction in itself can’t be contained easily. The reaction of customers whether positive or negative can flip out very quickly.
Email marketing is the evergreen trick for digital marketing. It speaks of professionalism while still keeping an informal like formal tone of conversation. Email marketing and drip campaigns thus successfully maintain a track of customer interaction and convey the message on point.
It is important to know whether or not you and your customers are in the same place while defining your service quality and their customer journey. Taking feedbacks at the end of every transaction be it bot or agent helps in gathering immediate response while follow-up surveys post sales or maintenance helps to trace the attitude a customer has developed over a period of time with regards to their satisfaction level as against the service quality.
The above mentioned ways and means establish clearly as to why an unhindered emphasis on customer service is essential. It explains how agent service , output, SLA, CX, CS, journey mapping, ROI, and much more is dependent on the CSAT scores of an enterprise for both short and long run as well.
Ignoring customer satisfaction measures and tools doesn’t make you less exposed to its hazards by ‘bliss of ignorance’. It indeed communicates to your competitors, customers, market experts, and potential leads that you don’t care about your shortcomings or ways to reduce the rift.
A positive story thus requires relentless efforts and patience as its primary virtues.