Nowadays, with fingertips, customers have access to various choices of products and services in the market. This raises business competition especially in B2C sector. The access to choices increases the chance of customer trying new products and services, which is making it harder to keep the customers loyal to your brand. Consequently, it is more crucial than ever to understand your customers; what customers like about your brand? what customers dislike about your brand? what should be focused to retain your customer, and what can make customer happy enough to promote your products and services to their friends and family or even online?
NPS stands for “Net Promoter Score” or how likely your customer want to recommend you to their friends & family, and etc. It could represents how satisfied your customer with your products or services. Usually, there is strong correlation between NPS and Customer Satisfaction. A satisfied customer is definitely more likely to recommend you than others. This also means how many people like your products or services.
Customer Satisfaction is an indicator of customer happiness based on what they get compare to what they hope for. If you can meet or exceed the customer’s expectation, you can make your customers satisfied. On the other hand, customers will show dissatisfaction when the products or services are not met the customer’s expectation. In fact, business owners can use the Customer Satisfaction Survey tools like online channels, email, telephone auto message, or paper to acquire the customer’s insight such as overall customer satisfaction score, what customer like, what customer dislike, and willingness to recommend brand to friends and family.
“Acquiring a new customer usually cost 6-7 times more than retaining current ones. On the average, the loyal customers tend to spend 10 times more than their first purchase.” That’s why the business owners should always value the customer satisfaction more than marketing to get new customer. By nature, when the customers are happy with products or services, they are more likely to promote your brand with their friends and family, which is ultimate goal of running business.
With how convenience to access options, the customers can be swayed to try other brands at any given time. Especially if the current products or services they are using don’t meet their expectations. Research also found that brands have to create up to 12 positive experiences in order to compensate for a negative experience customer had. On top of this, it is much easier for customers to share bad experience about a product or a service than a good one. It is impossible to stop customer from sharing their experience, but you can implement a channel to gather customer feedback and turn it into a strategy for your products or services improvement.
The next problem after having a channel to gather customer feedback such as customer satisfaction survey is you have to go through a large amount of data. It is quite challenging to arrange a sizable data into a sensible format which is required to see customer satisfaction trends. There are a few ways to find the trends in customer satisfaction, for example, using the program that can report the fluctuation of customer satisfaction, focusing on industry-wise or region-wise target, or finding the correlation between customer satisfaction and other inputs.
If you are looking to improve your product or service using the customer satisfaction, Davoy.tech is ready to onboard you to the journey to understand your customer better both for customer satisfaction & NPS. We will hold your hands from creating customer satisfaction survey, data analysis, to building interactive dashboard with our end-to-end customer satisfaction platform.
If you are ready to embark on this journey, please contact us at below.