A good customer experience is the ultimate pat on the back for any business that wishes to hold a strong position in the market.
Any business grows and nurtures with time and great experiences attained right from the time of its inception. However; to emerge out of the seedpods, a business needs to consider a lot of aspects such as its product offering, the market, the demand/supply ratio; but most important is its customer base.
A customer’s positive experience is the turning point of a business that encourages it to grow smoothly and exponentially.
Few statistics reflect that loyal customers spend more on the business than new customers do and so ensuring pleasurable customer experience is vital for any business.
Here, we can also fathom the fact that the expense of retaining a customer is far less expensive and less time consuming than acquiring new ones.
So, what is Customer satisfaction?
Customer satisfaction might appear as a overwhelming term to define if not known the way around attaining it since many times we don’t know for sure what makes a customer happy.
The textbook definition of Customer satisfaction has always been typically conceptualized as either an emotional or cognitive response. However; each brand is ready to spend a bomb to achieve it for their individual customer base
Typically, customer satisfaction is said to be achieved if a customer prefers staying affiliated to a certain brand because of the comfort, approach or any other benefit attained.
Any brand having a larger customer base eventually ends up grabbing a larger market share and grows strong in its business eventually.
The effects of a satisfied customer far outweigh the effects of an advertisement
Customer churn rate is also an effective way to help you identify the customers that are unhappy, it measures the percentage of people ending their relationship with a business in a certain time period.
It’s impossible to create an image of an idealistic customer and “assume” what a customer wants.
We need to collect feedback and understand what and how they perceive the business.
Feedback helps you track your customers journey and work on the aspects that you lack.
Feedback should be top priority of a business.
Customer satisfaction is not measurable, but you can obtain a rough estimate using these methods:
● Star Rating
Ratings are a fun way to engage with audience. A lot of people prefer to give ratings using the star system rather than typing out reviews. They are easy to understand and can be filled within seconds.
A lot of big brands and businesses use this rating system on their websites, blogs, pages and apps.
It makes the job of the marketing team simple, but of course doesn’t give an accurate measure of understanding your customer psyche.
● Emoji rating
These days emojis are used everywhere, while texting, while posting, when reacting to said posts, etc.
They are engaging, unique and extremely relatable. Younger audiences these days use emojis to communicate what they feel empirically.
It helps your audience connect in a way that other rating scales might not since they focus on the user sentiment as well as experience.
Reviews are the most effective source of understanding customer satisfaction. In fact they give us complete information of why the customers liked a particular product, what aspect they liked about it and how well do they really understood the concept behind it.
Reviews help you determine who is a person of interest and you can bank on that fact.
● Graphic Rating Scales
A popular example of a graphic rating scale is a Likert scale. It is a series of numbers between your choosing, example 1-10, 1-100, etc. where customers can rate their experience from best to worst.
This type of scale is commonly used for customer reviews on service products.
Well, hands down this is the most time consuming and exhaustive methods of all. Surveys can take from a few days up to a few months depending on the type of survey that is being conducted.
They provide extremely accurate results, but the amount of time spent on collecting the data cannot always be used. People move on, trends change, and new products are launched.
However; if everything stays constant and the sample surveyed is the precise one for your brand then there is nothing greater and valuable than a survey to gauge your customer review. Below is an example of a Survey form.
- Focus groups
Focus groups are the second most effective medium, in understanding your customers. You can see, how they react to the product in real time. You can also ask them questions and hear their unfiltered opinions about the products.
Which method will work best for me?
Just like every snowflake is different, the method you use to approach your customer also varies.
To get results that will make a difference to your business, trial and error is necessary. Use a combination of these methods and figure out what works best for you.
In fact, with change and development in technology there are many digital tools that help you extract your user reviews from various digital portals, thereby giving you the first-hand review about your brand.
Such tools are called as digital listening too. We at Locobuzz possess such tools that can give you deep insights about your brand’s perceived image in the market, thereby giving an aid in enhancing your customer experience as well as satisfaction.
Customer satisfaction is the backbone of any successful business. To be able to excel in these points should be top priority of any business.
The growth of your business depends on how well you can maintain this.