While you should always devote time to prospect hunting, studies show that it is five to eight times more profitable to keep your current clients, happy. Just picture the time it took you to gain a new client, from the hunting phase to overcoming objections, to negotiations, and then the final terms and agreement. It certainly takes a lot of work to prospect and find clients that are the right fit for you. So, instead of remaining on that eternal hunt, why not satisfy the clients you already have? That is, provided, you both have a mutually beneficial relationship. Because, of course, you cannot please every client in the world and vice-versa. However, you can easily learn the essential of customer satisfaction management through this convenient online course. So, how do you start measuring client satisfaction in meaningful metrics? Read on to learn more.
Happy Clients Spend More Money
A study, produced by the Xerox company, showed that the clients who gave them five points instead of four points on a five-point scale, were also six times more likely to spend money on new products. So, it pays off to understand what makes your customers’ tick. However, many organizations do not have the systems in place to accurately measure client satisfaction. That would be to their disadvantage given the results shown. In addition, it can make a large impact on repeat business, which is what you want.
Understand Your Client’s Segments
In order to successfully start measuring client satisfaction, you need to know who your clients are. For example, you can divide them up by which lines of business they support, age groups and even gender. As a business owner, your goal is to ensure you have the best products at the best prices available. Knowing who your customers are helps you to produce more useful measures for gauging service performance.
Offer Customer Surveys
Although it can be difficult to gain accurate customer assessment, it is still critical to try. You can offer surveys digitally, through the mail or on the phone. Keep in mind that many customers will not respond unless they are very dissatisfied about something. You probably dislike dealing with unhappy customers as much as the next person. The good news is this fun online course teaches you exactly how to appease angry clients. Use a weighted scale such as “1” being the least happy and “5” being the happiest. You should also survey your repeat customers to see if and when their experience alters over time.
If your company uses salespeople to sell products and services directly to other businesses, you can use the follow-up call method. You can have the salesperson contact the client directly to find out if the product or service met with their expectations. For example, if you sell custom countertops, you might want to call the customer and ask how the shipment went and if they were happy with the product.
Create a Focus Group
This is an informal setting where you can bring in between five to 10 clients to ask them for feedback. You might hire a professional facilitator or train one of your employees to do so. In addition, you could provide and incentive for your customers such as small gift certificates, company apparel or entries into a drawing. Ask them for suggestions as well as responses to new and older offerings. This helps you to gain individual insights in addition to viewing how your customers respond to each other’s reactions.
This is one of the oldest and most traditional ways for measuring client satisfaction. It really can help to have an outsider’s view to any potential insider problems. You can only guess your client’s thoughts. It helps to have them in writing. Place them in an easy-to-see space at your place of business. You can also ask for suggestions electronically. The critical thing is to read suggestions. You might even find several you would like to implement.
This is another way to understand the various levels of satisfaction. Companies that use customer tracking range anywhere from hair salons to pizza delivery restaurants. How it works is you keep records of each client purchase. So, you would have a form of a customer relationship management system. You can then use this system to view the customer’s last purchase and/or how frequently they made purchases, such as their purchase history and perhaps the types of purchases they make and when they tend to make them most. You can tell a client has some level of satisfaction if they return, regularly. On the other hand, you can also view clients who have only made one or two purchases. In addition, if your goal is to keep clients coming back for more, then you should take this course that teaches you how to build a customer factory!
Have a Client Advisory Group
This is similar to a focus group except this group offers feedback over time. You can pay them for their time or offer dinner, lunch or breakfast at each meeting. This group can be pivotal because they understand they have to have an increased focus on whether or not you are meeting your customer satisfaction goals. So, they will look for ways to help you improve. It also helps to enhance your relationships with happy clients who want you to succeed.
Turn Your Measurements into Actions
The next step would be to interpret your findings, and make positive changes. Analyze where you need to make improvements, and then set aside resources for implementing the modifications. In addition, keep the transitions monitored with a set deadline for alterations. This is the reason why you started measuring client satisfaction in the first place, isn’t it? Moreover, your attention to your clients needs to be exacting. Furthermore, you can competently learn that customer service skills are more than just providing information.
Understanding whether or not your clients are happy is not always easy. If a client is satisfied, they might not feel the need to share their experiences. Some are just too busy. On the other hand, unhappy clients can be very vocal, but also, very one-sided. Nonetheless, it is a crucial measurement to take if you want your organization to continue to succeed and move forward.