Quality, efficiency, service, and reliability are the terms we often hear when we discuss customer satisfaction. Smart businesses know, retaining a customer is an art. But, businesses also need to start measuring customer satisfaction to know customer loyalty and a simple way of measuring this is deploying a customer satisfaction survey.
According to a recent study, organizations or businesses are more likely to have a 10% more growth rate by measuring their Net Promoter Score. Very often, successful organizations perceive that retaining customers is more cost-effective than finding new customers.
Even after spending so much time, money and efforts, organizations experience a few customers slipping away. The best practice here is to deploy a customer satisfaction survey to help organizations understand where exactly are they erring. In recent times it has become a vital tool for enhancing customer happiness and loyalty.
If you are still not convinced why customer satisfaction survey is important we have 5 more reasons to make you believe why customer satisfaction survey is not only important but also beneficial to businesses of any size.
1.Even the most loyal customers can leave you in the blink of an eye.
Customer loyalty, as they say, cannot be bought, it needs to be earned. According to a study, in the US, organizations can lose upto 45% of their customer value, if they are not satisfied with the customer service or don’t get the expected response.
This is no rocket science, customers have too many choices and your loss is someone else’s profit. An excellent way to retain your customers is to make sure a customer satisfaction survey is deployed and any issue related to the same should be immediately addressed.
2. It helps you differentiate your brand from others.
As a customer if you wanted to purchase a television and you have done all your research, spent hours in front of the computer and made notes of the features you want in your television and finally concluded that you want to buy brand A. Then you visit your friend and tell them excitedly that you have narrowed down brand A, suddenly your friend says, “Naah, brand B is better. I have used it and they have an excellent customer service.” Which brand do you think you will end up buying? The answer is straight, brand B of course. Customer satisfaction is a differentiating factor that helps your brand to stand tall in the competition.
3.Positive branding can be achieved by excellent customer service.
The importance of customer satisfaction should never be doubted. It plays an important role while planning the marketing strategy of an organization especially when it comes to branding. Like mentioned previously consumers these days have gone digital, irrespective of their age.
Social media is playing a very crucial role in branding activities. An unsatisfied customer is free to express his/her view on a medium that is accessible to millions of people. One negative review or feedback can do an irreversible damage to the brand. Hence it is extremely important for an organization to make sure that the comments the consumer leaves are always positive.
At a later stage, businesses can use the positive comments or feedbacks as success stories or testimonials to promote the brand.
4.Happy customers are returning customers.
Satisfied and loyal customers not only spread a positive word of mouth but also keep coming back to the brand they like despite many choices offered to them. Customer advocacy has resulted in 48% business growth for small-scale business in the year 2016-17, according to a study.
Also, customer satisfaction shows in the revenue of an organization. Customers opinion (positive or negative) can affect the brand value. Happy customers never turn to your rival brand.
5.Make customer experience more personal.
When businesses realize the importance of customer satisfaction, they make sure every unhappy customer is contacted in person. There are various business strategies that businesses offer in order to convert an unhappy customer into a happy one.
Offering vouchers or discount is an immediate remedy to repair the damage done. But if the businesses really care about their customers, they will regularly deploy customer satisfaction survey to the customers. For any organization measuring customer satisfaction should be a habit, not an option Measuring customer satisfaction should become your daily habit.
Last but not the least
Happy customers means happy employees. If the customers are satisfied with your brand, revenues will keep kicking and the targets will be met. A satisfied customer is an asset to any business. In the wise words of Simon Sinek, “People don’t buy what you do, they buy why you do it.”