Measuring customer satisfaction with your goods, services and customer experience (CX) is exceptionally important to increase sales and gain market share. The happier your customer, the more likely they are to become permanent brand advocates, providing word-of-mouth referrals to their friends, family and social media networks, saving you on marketing spend in the long term.
It is 7x more expensive to acquire a new customer than it is to market to an existing customer making an investment in customer satisfaction monitoring and data collection a strategy with high ROI. Learn more about customer satisfaction and why measuring CS is important to your bottom line by reading our recent blog post How to Measure Customer Satisfaction.
The next step, and arguably the most overwhelming step in any process, is the actual gathering of data. Where do you start? Let’s first take a look at the two most popular measurements of customer satisfaction: Net Promoter Score (NPS) and Customer Satisfaction Score (CSAT).
Measuring Customer Satisfaction Data
Yes, you can have finance run P&L reports, you can have marketing pull social sentiment analysis and you can have sales provide sell-through and closed account reports… But, traditional reporting only ever provides solidified, unchangeable data; you have already lost these customers and they may never return to your brand.
Customer satisfaction monitoring by way of NPS or CSAT surveys allows you to identify lukewarm or dissatisfied customers before they become a negative statistic. Read on to learn more about these valuable customer satisfaction tools.
Net Promoter Score (NPS)
Check your personal inbox right now and we can almost guarantee you will find an email containing an NPS survey. The NPS survey is the simplest survey measuring customer satisfaction and contains just one question: “On a scale of 1-10 (1 being unlikely and 10 being very likely), how likely are you to recommend our brand (or service) to a friend?”
Why is this one question survey so effective? Because it measures the likelihood that an existing customer will promote your business by word-of-mouth. The answer to this question is crucial to determining whether your existing customers are satisfied with your customer experience.
NPS respondents are broken into three categories: promoters (9 or 10 on the NPS scale),
Passives (7 or 8 on the NPS scale) and detractors (0-6 on the NPS scale). Promoters are, as the name states, most likely to promote your brand as a result of brand loyalty; this category of customers are your golden ticket to free marketing. Passives are generally satisfied, but they are not likely to promote your brand actively and are more open to purchasing from your competitors and lastly, detractors are unhappy with your product and will likely spread negative commentary online.
Your NPS score is calculated by subtracting the percentage of detractors from the percentage of promoters.
Customer Satisfaction Score (CSAT)
CSAT surveys help your business identify weak spots in the customer journey rather than satisfaction and dissatisfaction with your brand as a whole as with the NPS survey. These surveys are a great addition to the NPS survey, specifically if you have a high percentage of customers in the passive or detractor categories and would like to determine where, specifically, your customer experience falls short.
How to Gather Customer Satisfaction Data
Mass distribution of customer satisfaction surveys sounds like an overwhelming initiative that costs a pretty penny and requires significant manpower. Luckily, crowdsourcing is an incredible digital tool available to gather large amounts of real-time data from a global network of Contributors at an affordable cost.
What is Crowdsourcing?
Crowdsourcing engages individual contributors to complete tasks or projects on location, identify problem spots along the customer journey, gather crucial business data for strategic implementation and more. Contributors are assigned a series of tasks based on your business need, which they complete within a specific time period, providing real-time data for analysis. Crowdsourcing is scalable, allowing you to increase Contributor reach as you expand your business.
Crowdsourcing Customer Satisfaction Data
You can crowdsource NPS and CSAT surveys, tasking Contributors with either answering questions directly or interviewing others to gain feedback on customer satisfaction.
Crowdsourced data comes to you in real-time through verified Contributors ensuring that all data collected is accurate and relevant to your team. The Premise platform analyzes your NPS customer satisfaction data providing real-time updates to your NPS score as new Contributor data rolls in. You will also receive a breakdown of promoters, passives and detractors by percentage as well as the general reason for their current sentiment with your product or service.
Gather Customer Satisfaction Data Using Premise
Premise’s crowdsourcing technology uses a robust, innovative mobile application to collect real-time data from an extensive network of Contributors around the globe. These Local Contributors provide an unbiased, unique perspective that allows them to collect extremely granular data and glean valuable consumer and competitive insight on a local level.
Are you interested in learning more about how Premise can help you gather customer satisfaction data using our vast network of Global Contributors? Visit https://www.premise.com/ or email email@example.com. We can’t wait to help you become more data-driven.