In business, keeping customers happy is important however, not many realizes the massive effect of customer satisfaction on their business. According to Forbes, having higher customer satisfaction is a sign that businesses will exceed their financial performance targets. Gartner states that 81% of marketers view customer satisfaction as the main area of competition. So how do you measure customer satisfaction correctly and increase it?
Customer Satisfaction Metrics
Source: Monkeylearn
There are many different ways to measure customer satisfaction however, the three most used benchmarks are:
- Customer Satisfaction Score (CSAT)
- Net Promoter Score (NPS)
- Customer Effort Score (CES)
Why these three metrics? The Customer Satisfaction Score helps you measure how satisfied the customers are with your current offering or service, while the Net Promoter Score shows you how likely they are to recommend your product or service to another person. The Customer Effort Score (CES) shows the ease or difficulty of the customer’s journey when using your product or services.
From these metrics, you would be able to discover customers’ pain points and the reason for their satisfaction. With the data gathered, you can improve your business and exceed customers’ expectations.
Why is Customer Satisfaction Important?
First, building customers’ loyalty. When your customers are satisfied, it is more likely for them to love the products or services you offer and become loyal customers. Gaining their loyalty means that you are reducing the chances of losing your customers.
Second, to avoid customer churn. Customers are less likely to leave because of one bad experience, they would do so after encountering several. In order to avoid this, being able to see customers’ feedback and fix the issues might help you retain your consumers better.
Third, to help with your product decisions. Going hand-in-hand with the previous point, customer satisfaction data might be helpful when you want to decide how to improve your offerings to customers.
Ways to Raise Customer Satisfaction
So now that we know how to measure the benefits, how can we raise our customers’ satisfaction? We can start with feedback.
If you have done the surveys using the metrics mentioned above, that means you have the data from customers’ feedback already. What is left to do now is to listen and realize the feedback that could affect your business the most. Replying to that feedback and showing that your customers are being heard is also important to raise their satisfaction.
Second, have a customer-centric mindset. This means to think like your customers and try to understand their points of view. Of course, this means that keeping in touch with your customers is a vital part of raising your customers’ satisfaction.
How Chatbot Can Help You
You might be thinking, “I have a lot of clients. How am I supposed to keep in touch with all of them personally?” This is where the advancement of technology might be able to help you.
Here at Makebot, we create chatbots that can handle communicating with your customers naturally through online platforms while you are busy handling your in-person customers. Our chatbots will be able to hear all of your customer’s feedback, and complaints, answer their questions and even help them with other online activities. With Makebot, you can engage your customers better and raise your customer satisfaction to increase your business revenue.
Visit Makebot to learn more.