As the economy changes, and customers' behavior is altered with the increasing use of the Internet, it is important than ever to understand the reasons behind customers’ actions. ONLINE SURVEYS are a great tool to garner customer feedback as well as testimonials about your company’s performance!
Customer retention is critical to success; just look at these statistics:
- Acquiring new customers can cost five times more than satisfying and retaining current customers
- A 2% increase in customer retention has the same effect on profits as cutting costs by 10%
- The average company loses 10% of its customers each year
- A 5% reduction in customer defection rate can increase profits by 25-125%
- The customer profitability rate tends to increase over the life of a retained customer (Murphy, 2002)
Customer satisfaction is key to retaining customers, and understanding what makes customers stay and what makes them go. Avoid disastrous mistakes in your business by recognizing what customers see as your core strengths and your competitors’ strengths. Surveying is instrumental in measuring changes in customer satisfaction and attitude over time.
Murphy, Emmett C. Murphy and Mark A. (2002). Leading on the Edge of Chaos. Prentice Hall Press.
Developing a Customer Satisfaction Survey:
- Make sure that you are not asking your customers to jump through hoops for you. The chance of getting complete responses is higher if you make it easy for people to take.
- Consider the response type. A combination of multiple choice, matrix, Likert scale and open-ended questions will get you valuable information while not overwhelming your customer with too much typing. Consider allowing ‘Comments’ sections on multiple-choice questions so customers that would like to share more have the opportunity to do so.
- Thank customers for their time and effort. Thank them by listening, really listeningto what they tell you, and acting on it and by giving them a gift or coupon to use towards your business. You can determine what is appropriate for your industry.
Template packets are downloadable from the customer account area to get you started even faster. Here are examples of the Customer Satisfaction Survey Templates that are available:
Airline Service Evaluation/ Survey
Automobile Purchase Evaluation/ Survey
Customer Satisfaction – Product or Service Evaluation/ Survey
Customer Satisfaction - Customer Service Evaluation/ Survey
Customer Satisfaction - Customer Sales Person Evaluation/ Survey
Customer Satisfaction- With Company Evaluation/ Survey
Customer Satisfaction - Retail Store
Customer Satisfaction- Restaurant Evaluation/ Survey
Customer Satisfaction - Help Desk/ Tech Support Evaluation/ Survey
Customer Satisfaction- Motivation and Buying Experience Evaluation/ Survey
Customer Satisfaction- Product Use Evaluation/ Survey
Customer Satisfaction – Value Propositions Evaluation/ Survey