When you think about customer satisfaction, the first question that comes to mind is probably a broad one: How happy are your customers? It’s important to measure overall customer happiness, but customer satisfaction surveys can do much more than that when they’re tied to specific goals.
Customer loyalty is a big goal for most companies. We know customer acquisition is expensive, and new customers are far less reliable than existing customers. Since customer satisfaction is a prerequisite for customer loyalty, the way you measure and understand it can truly impact your bottom line.
Consider these statistics on customer loyalty and churn:
- Two thirds of customers who leave a company do so because of the treatment they received. (Kissmetrics)
- 61% of customers take their business to a competitor when they leave. (Kissmetrics)
- Existing customers spend 67% more with a business than new customers. (Selfstartr)
- The average repeat retail customer spends 67% more in months 31-36 of her shopping relationship than in months 0-6. (Bain & Company)
It’s clear that customer satisfaction should be a top priority. But where do you start? First, you identify the key drivers of customer satisfaction (and dissatisfaction) in your business. Specialized customer satisfaction surveys reveal customer preferences, top reasons for churn, and opportunities to improve processes company-wide.