91% of unhappy customers will never purchase from you again (Liveworkstudio.com).
The number 1 objective of any business should therefore be the creation of
happy customers. Businesses that create happy customers grow and flourish,
while the ones that don't, stagnate and perish.
Yet for the #1 objective it is severely underrepresented in companies'
goals and metrics. This is partly due to the fact that measuring customer
satisfaction is not as straightforward as e.g. measuring revenue streams or
website visitors, making it hard to set up clear goals. There are however some
great metrics and tools out there designed for this purpose. Let's go through
some that can be applied in your business today.
This assesses your customers'
experience with your product or service. It’s the direct response to perceived
quality based on the perceived needs and expectations customers had.
Overall satisfaction can be measured through a survey conducted from
your customers after they finished the purchase process. Survey Monkey has a comprehensive set of surveys you can
use to assess your customer’s satisfaction. Another great tool that we
recommend you to experiment with is Floq, an app that allows you to create professional looking
surveys that can easily be implemented via e-mail, link, or on your website as
a pop-up.
Another survey tool commonly used
is Google Forms. This free tool allows you to easily set up surveys.
2. Objective Measurement Approach For Loyalty
Customer loyalty is
an excellent mirror for customer satisfaction as it’s used to describe the
behaviour of repeat customers, as well as those who offer good ratings, reviews
and testimonials. Loyalty can also be measured via a survey after the purchase
process, it is however more powerful to measure the actual behaviour than the
intention. This can be done with the Objective
Measurement Approach. Recommended by Bob Hayes in Business Broadway, this framework allows you to analyse the historical records
inside your CRM system - for example purchase scores or online behaviour - and
relate them to other metrics related to your business model, such as
consistency of subscription renewals.
3. Apps for Attributional Satisfaction
One of the best
ways to measure the satisfaction regarding a certain product or feature (could
be with your support service) is by providing a reasonable context which
customers can relate to. Asking your customers whether the support team was
friendly or whether they felt rushed allows you to understand how important
these elements are for the whole picture.
One popular tool
to assess attributional satisfaction is Qualaroo a
platform which allows you to gather the answers from these questions as well as
set up the linking webpages from your website in order to make it easy for your
customer’s to let you know their review. Another easy and interesting tool is Temper an app that allows you to monitor the
customer mood, spot frustrating experiences for further development, and
clearly understand customer satisfaction regarding different pages, different
products or scenarios. Also useful for A/B testing.
5. Net Promoter Score
This may well be
the most popular way of measuring your clients' loyalty. It measures the
likeliness of a customer referring you to someone else. The customer is asked
how likely he would recommend you on a scale from 1 to 10. From the image above you can easily understand that
assessing your NPS score is quite easy. Take the percentage of all the
respondents who are standing as promoters of your brand and subtracts by the
percentage of detractors. This is an excellent benchmarking metric. Make sure
you understand the context in which the question is being asked, to whom and
when, and try to use the opportunity to ask those detractors what can you do to
improve your service.
6. Things Gone Wrong
This is a negative measure and your goal is to minimise its score to
zero points. What you’ll be measuring with the TGW is the rate of complaints
per product you sell. In the worst possible scenario your score is 1 or higher,
meaning that you get at least 1 complaint per unit sold. TGW is calculated by
dividing the number of complaints by the total number of units sold.
However you should
be careful when analyzing the results from this measure as many people don’t
autonomously complaint, they simply never buy from you again. Therefore having
a good TGW score doesn’t necessarily mean that things are going well.
Credit: www.userlike.com
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