You’ve worked your way on how to attract the right customers and subscribers, make the right marketing decisions and your reach is higher than ever.
Now that you are on the right path with your company, it is important to not lower your guard and monitor all threats that can lower customer satisfaction and lead to customer churn.
Customer churn
Customer churn occurs when a customer or a subscriber loses interest in your service or a product and stops doing business with you. Preventing customer churn is of critical value in keeping customer loyalty and improving the entire brand of your business.
Engagement is one of the core ideas behind decreasing churn risk. Actively engaging with your customers will keep them coming back and interacting with your business.
Identifying churn risk and churn threats are crucial in keeping customer satisfaction and lowering churn. But there is one simple way of staying on top of these calculations that are not talked about enough.
Being aware and keeping track of customer experience after they have used the product or service can help
you gain insight into product or campaign success. You can track customer loyalty, and of course, satisfaction.
We can go way back and find that simple questions on customer satisfaction with product or service, in form of pen and paper surveys. There must be something in it when it is so widely used, right?
Right.
Customer satisfaction
Although some may argue that the response rate to customer satisfaction surveys is low, too low to make an impact, using the right form and right questions can make all the difference and skyrocket the response rates.
Shorter, straight-to-the-point questions are more effective and provide a better response rate. It is with this simple, short question that you get the broadest insight.
Some of the standard forms of customer satisfaction survey questions are Net Promoter Score (NPS), Customer Satisfaction Score (CSAT), and Customer Effort Score (CES).
NPS
On a scale of zero to 10, with 10 being highest, what’s the likelihood that you would recommend us (our company) to a friend or colleague?
NPS is a basic survey question that helps determine overall customer satisfaction with the company. Satisfaction with the person from the company, that customer interacted with.
CSAT
How would you rate your overall satisfaction with the [goods/service] you received?
The simplicity of CSAT can help you determine the satisfaction with the service customer was provided with. Differing from NPS in a way where NPS measures overall satisfaction and loyalty to the company.
CES
How easy was it to solve your problem with [business] today?
CES is here to measure the ease of customer interaction with the company and how easy was it to use the service or product.
While there are differences in ways in which these three surveys deliver the information you can later on use, it is the way they are used that has the most benefits.
Gathering and analyzing customer feedback will provide you with insights into the strengths and weak points of your company or service. Based on that you will be able to keep improving the satisfactory elements and work quickly on ones that proved to not collect that much praise from customers.
When negative feedback is received, it should be on you to act on it. Contacting the customers, discussing ways on how to make the best resolution of the issue for both them and the company, and gathering negative feedbacks. Analyzing them so you can find the common denominator and will be able to pinpoint your weak sides and work on transforming them into your strengths.
How all of this ties to customer churn?
With gathered customer satisfaction feedback, you will be able to act on negative experiences as soon as they happen. Turning the situation into one with a positive outcome, lowering churn risk. Being proactive when collecting and overviewing negatives of your service or product, from the perspectives of your customers can help you cut off the weak points. Also, resulting in you eliminating potential churn threats.
Conclusion
There are many ways of calculating and eliminating churn threats, and there is plenty of information on them out there. But there should be value in simplicity, in reaching out to your customer and asking them a simple question about their experience. Not only building loyalty and interacting with them but also, transform your business into something present and the future customer can always turn to. NPS, CSAT, and CES are all in one place with MetricsFlare!
Join now and experience a user-friendly interface with the most well-known surveys, so you will be able to collect answers, eliminate churn and improve your customer-business relationship.