55% of your clients expect better service from you today than they did a year ago. Consumers are becoming more demanding and far less forgiving. One mistake will send 32% of customers running from a brand that they adore.
The stakes have never been higher. Firms that don’t take cognizance of this are setting themselves up for failure. Fortunately, modern technology provides companies with robust tools to track customer interactions and obtain feedback.
By keeping a close eye on the correct customer satisfaction KPIs, firms can tweak their offerings and improve the client experience.
Which KPIs should you measure?
To answer that question, we approached Daria Leshchenko, CEO of award-winning support company, SupportYourApp. We asked her which customer satisfaction KPIs she viewed as most important. We’ll discuss her answers in this article.
What Customer Satisfaction KPIs Should You Measure?
What came across clearly during our interview was that there are several approaches you can take. It’s also clear that while each individual KPI provides information, they shouldn’t be taken in isolation.
To gain a complete understanding of how your firm is doing, you should use a combination of several measurements.
Customer Satisfaction Score (CSAT)
CSAT is one of the most popular metrics. It entails asking clients to rate their performance on a scale. You may ask clients to rate their satisfaction with your brand:
● On a scale of 1 – 10
● Using a simple Smiley Face/ Cross Face scale
The average of all the scores gives you an idea of how well your company did then. It’s a historical metric.
Net Promoter Score (NPS)
Knowing how clients felt about previous encounters is only useful to a point. They may indicate that they’re satisfied with service, but that doesn’t say much about whether they’ll promote your company or not.
The NPS asks clients how likely they are to recommend your firm to friends on a scale of 1 to 10. It’s a useful way to determine how many brand ambassadors, or promoters, you have out there.
You’ll divide the responses into the following categories:
● 9 or 10: Promoters or people who act as brand ambassadors.
● 7 or 8: Passives or people who are indifferent to your brand.
● 0 to 6: Detractors or people who may actively speak out against your brand.
You total up the numbers in each category and work them out as a percentage of the total responses. To get the final figure, subtract the detractors from the promoters.
First Response Time
How quickly you answer a client’s call or query directly impacts customer satisfaction. Consumers want their questions answered promptly, or at least to know that someone is working on them. Firms that rate customer satisfaction highly must measure how long it takes to answer a client when they make contact.
Customer Churn Rate
A high churn rate is one of the best indicators that something is wrong. Keeping an eye on this metric gives you early warning of possible problems.
The above KPIs provide quantitative data for you to analyze. To drill down into the specifics of service gaps, however, you’ll need a more direct approach. There are a few ways to do this.
Carefully crafted and targeted surveys are a good approach when you know where the gaps are. They allow you to get more details about what the specific problems are. It can give you valuable insight into what the client expects as well.
A faster approach is to append an open-ended question to any of the quick metrics listed above.
Work with what will appeal to your target market the best.
Monitoring customer satisfaction is essential to maintaining the high service levels your clients expect. By supplementing metrics such as the CSAT, NPS, and churn rate with surveys, you’ll have a firm grasp of your clients’ moods and course-correct as necessary.