Customer satisfaction is a major component of a successful, long-term business. Gathering customer feedback helps to guide business decisions and improvements that are in line with the expectations and needs of clients.
One of the most efficient and cost-effective means of measuring customer satisfaction is to create a customer satisfaction survey. The purpose of a customer satisfaction survey is to provide unbiased and honest insights into the thoughts, perceptions and expectations of your customers; gauge how well your company is currently performing; and identify areas in need of improvement.
Advantages of regular Customer Feedback Surveys
It’s important to know if a customer’s perception of any aspect of your business changes.
Regular customer feedback surveys ensure you remain up-to-date with the shifting thoughts, opinions and trends of your customers; enabling you to improve service on an ongoing basis, identify new market opportunities and react faster and more efficiently to issues or customer complaints.
Gathering insights and feedback on a continuous basis helps you to better understand the expectations and needs of your clients. This allows you to adapt and align your offering and service processes to the level that your customers both want and expect
Set a Benchmark for Results
Conducting regular customer feedback surveys allow you to track, measure and benchmark your company’s performance over time to determine where changes are needed.
Regularly issuing customer feedback surveys to clients allows companies to compare the results against past data in order to understand how well certain areas of the business is performing, and whether there is an increase or decrease over time.
This is particularly important for strategic management and planning where companies seek to improve their offering and services over time.
Reduce Customer Churn
Many businesses make the mistake of assuming that because a client isn’t calling up to complain that they’re completely satisfied. In most cases, nothing could be further from the truth as studies show that 96% of unhappy customers won’t complain. They just walk away instead.
Administering regular customer feedback surveys give your clients a chance to speak up about elements of your product or service that’s failing them. Reaching out and asking your clients how and where you can improve will usually get a response; and you can use these insights to identify and target your most unhappy customers before they decide to walk away.
It should also help to highlight recurring problems or problems that are widely occurring in your company; letting you resolve the problem before it becomes too big of an issue.
Helps to Build Relationships
Reaching out to customers and asking for their feedback demonstrates that you value them and their opinions; while also letting them know that you base decisions and improvements around the needs of the customer.
While it’s essentially a small act, asking for feedback helps your customers to feel appreciated and lets them see that you value their business and are committed to building a long-term business relationship.