Having a successful business takes hard work and commitment.
In addition, it is equally important to know your customers and your market to ensure the success of your business. You must invest in digital tools, train your employees with a service mindset and constantly optimize your customer experience. Even then, there are no guarantees.
Lucky for you, there is something called the customer satisfaction index calculation, and it may be the answer to your prayers.
The customer satisfaction index represents the overall satisfaction level of a customer. It is important to plot the Satisfaction Index of the customer against a time scale to see if you are accomplishing the task of customer satisfaction over a period of time since needs and wants of customers are constantly changing.
What’s in it for me?
Through the use of the customer satisfaction index, your business can reap multiple benefits. The use of this online survey provides your company with valuable market research. The survey aids in helping you discover the strengths and weaknesses of your business in order to identify what it is you need to work on. Additionally, it helps improve communication with your customers. It allows you to see behind the scenes and to get a glimpse into what the customers really need. The use of survey results incurs no additional costs. They are yours to work with!
Another way to look at it is that it is far less costly to keep existing customers than it is to gain new ones. However, in order to keep your existing customers, it is essential to measure their satisfaction in order to gauge how well your business is meeting their needs. If you find that the survey results are not meeting the needs of your customers, then you can re-asses and improve your product.
Measuring the Customer Satisfaction Index Calculation
The customer gives each question on the survey a weight, according to how important that specific issue is to them. The customer satisfaction index calculation is calculated as such. You ‘calculate the average of all the weights given by the customer. Divide the individual weight by this average to arrive at the weighting on the basis of an average of 1. Customers’ higher priorities are weighted more than 1 and lower priorities less than 1. The average of the Customers Importance Scores are calculated and each individual score is expressed as a factor of that average.’
What Should I Ask My Customers?
It is essential that you ask the right questions in your survey. Here are some pointers for which topics to base your questions on.
1. The product. What is the quality of the product? Is the quality consistent?
2. Is the product delivered on time?
3. Staff and service. Are representatives available? Is the staff courteous and helpful?
4. The company. Does our company have a good reputation? Is it enjoyable to do business with our company?
5. The price. Is the product worth the price?
The only way to retain your customers is by ensuring their happiness with your product. Take a deeper look into the customer satisfaction index. It may just be exactly what you’re looking for.