Enjoy a few words on customer listening from Richard Branson!
For entrepreneur extraordinaire Richard Branson, customer satisfaction is best derived from the minds of customers. “Listen, Listen, Listen” says Branson. Innovative ideas and methods to better meet your customers expectations are no more than a few questions away.
Customer satisfaction occurs when a buyer perceives they have received the value they have paid for. Value can come in the form of quality, but can also be related to great customer service, complaint recovery, product guarantees, and more. Setting up a system for soliciting customer feedback is an important component to any marketing plan as it reveals your real performance-both good and bad. Companies like OC Marketing Analytics can help you define your customer research goals and design an instrument to help you collect, report, and analyze important customer feedback.
Consider these statistics:
- Only four percent of all customers with problems actually complain
- The average person with a problem eventually tells nine other people
- Satisfied customers tell up to five other people about their good experiences
- The cost of acquiring a new customer is usually five to seven times greater than retaining current ones
Satisfaction Surveys Boost your Bottom Line
An essential part of assessing satisfaction includes identifying dissatisfaction. Dissatisfied customers and employees often hold the key to marketplace success. Understanding when and why dissatisfaction occurs will help you implement changes necessary to gain and retain future customers. No matter what type of business you are in, surveys are an important tool to help you collect the information you need to understand and evaluate satisfaction.
Satisfaction Surveys Collect Valuable Information
Satisfaction surveys are an important vehicle for collecting your customers’ opinions and needs. They allow you to quickly capture information, and depending on the method you use, surveys can be implemented with relatively minimal expense.
A well-designed satisfaction survey can give you the answer to your most critical questions. Businesses often use satisfaction surveys to meet some of these objectives:
- Understand the expectations and requirements of your customers, employees, and members
- Determine how well your company and its competitors are satisfying these expectations and requirements
- Develop service or product standards based on survey findings
- Examine trends so you can take action immediately
- Establish priorities, goals and standards to assess how well you meet these goals
- Evaluate the impact of a change in a policy, product or service
In sum, satisfaction surveys help you make the right decisions. Successful organizations make satisfaction analysis an integral part of their business. They use statistics to translate responses into meaningful information to get the most out of their data.