Forbes.com says that bad customer service costs $338.5 billion globally each year. In the US alone, that’s about $83 billion, or an average of $289 per lost relationship.
Most companies today accept the fact that good customer service has a profound effect on reducing customer churn, and eventually the bottomline. Measuring customer satisfaction has become a key function in most Fortune 500 companies.
https://hiverhq.com/blog/measuring-customer-satisfaction/
As a business owner, your primary goal is improvement—you’re constantly trying to re-invent your business strategies and ideals to make your company shine. A big part of this is reception: what do your customers think of your company?
The correlation between popular businesses and higher customer satisfaction is easy to see. It’s true that more people will flock to your company after hearing positive things from friends and family. It’s long been recognized that people remember negative experiences more easily, so what can you do to improve overall customer satisfaction? Let’s look at what you can do to make your company retain the loyalty and respect of your patrons.
http://customerthink.com/optimizing-your-business-to-improve-customer-satisfaction-2/
You already know that your customers' satisfaction is critical to the success of your business. But what about employee satisfaction? Does it matter how happy your staff is? And should you gather employee feedback? In this article, we'll take a look at how you can use a Net Promoter Score (NPS) survey to assess your employees' at-work satisfaction and loyalty to your brand, producing a metric called eNPS.
http://business.com/articles/enps-employee-feedback/
Businesses are going to focus on customer satisfaction and experience, and consumers are actively looking for those brands that deliver on the promise.
Sounds too good to be true, doesn’t it? But of course, you may have more questions than answers: how do you achieve customer satisfaction? How do you increase customer satisfaction? How do you define customer satisfaction? Let’s dig in.
https://amaphiladelphia.com/the-benefits-and-importance-of-customer-satisfaction/
Stories are a better way to learn a customer's true experience, and the value they received. Of course, you can ask for examples on your surveys. But nothing replaces a conversation where you can go deep. Probe through dialogue. Gather real insights rather than platitudes.
https://www.inc.com/stephen-shapiro/how-to-know-if-your-customers-are-really-satisfied.html/
In this article, we are going to go over the main points of collecting Customer Feedback, why it matters to your business to hone in your customer satisfaction, and finally, answer our main question: why most of you are not doing it properly.
https://hackernoon.com/why-do-you-s-ck-at-collecting-customer-feedback-9d0a42d8233b/
Other generations think that millennials are entitled teenagers who want everything instantly. However, businesses, in particular, need to change that perspective. Millennials are powerful especially in the world of social media. They are also now the largest consumer in the world with approximately $200 billion annual revenue.
Satisfying Millennials With Social Media
In this age and technology, it is important for companies to note that social media is changing how the world of business works. According to Microsoft’s 2016 State of Global Customer Service report, 64 percent of millennials think that social media is a very effective way to solve customer problems. It is no doubt, therefore, that 52 percent of the said generation uses this platform in looking for solutions to their queries.
https://customerthink.com/why-millennials-customer-satisfaction-level-matters-in-the-age-of-tech/
Most customer service professionals are familiar with the two most common customer service metrics: the Customer Satisfaction (CSAT) Score and the Net Promoter Score (NPS). NPS asks customers how likely they are to recommend a company to their friends or colleagues on a scale of 0 (not at all likely) to 10 (extremely likely), while CSAT typically asks customers to rate the quality of specific experiences, like a customer service chat or a store visit.
https://www.business2community.com/customer-experience/care-customer-effort-score-01840420/
