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The power of feedback in customer retention
Mantener una relación cercana y recíproca con los clientes es vital para el éxito empresarial. Hoy en día, las empresas deben estar en constante comunicación con sus clientes para tener éxito. Escuchar sus comentarios y opiniones es una forma importante de mantener esta relación y de saber cuáles son las necesidades, mejorando la satisfacción del cliente y la calidad del producto o servicio que ofrecen.
Existen varias formas de medir el feedback de los clientes y hoy vamos a hablar de las siguientes: la encuesta de satisfacción del cliente (CSAT) y la medición de la lealtad a través del Net Promoter Score (NPS).
Customer Satisfaction Score (CSAT)
The initials stand for Customer Satisfaction Score and it is a metric that measures the level of customer satisfaction with a product or service, using a rating scale of 1 to 5 or from 1 to 10.
How to know if you have a good score? If we think of a scale from 1 to 10, a negative response would be in the range of 1 to 3, a median response from 4 to 7, and a positive response from 8 to 10. Generally, a good average score is around 75% and 85%.
Customers can rate their experience with the product or service and leave their opinions in an additional comments section, if desired. This feedback is very useful as it provides a valuable set of data for companies to refine their strategies and offer an exceptional customer experience.
Net Promoter Score (NPS)
Have you ever been asked how likely you are to recommend a product or service to a friend or colleague? Well, this is exactly what the Net Promoter Score (NPS) seeks to find out.
In the business world, the NPS is a tool for measuring customer satisfaction. Customers who respond with a score of 9 or 10 are considered promoters, those who are so happy that they would openly recommend using your services.
On the other hand, those who respond with 6 or less are considered «detractors». These are customers who would likely not recommend the company to others due to their dissatisfaction.
The final score is calculated by subtracting the percentage of detractors from the percentage of promoters. A high NPS score indicates that customers are loyal and would recommend the company to others.
Why is it important to measure customer satisfaction in hospitality?
According to a study by "The Understanding Customer Experience Report," 96% of dissatisfied customers do not complain; they simply switch providers or brands.
What problem does this present? There is a loss of customers without receiving useful feedback on the reasons and without being able to take actions to prevent it. Companies that receive customer feedback have a higher customer retention rate. According to a study by Harvard Business Review, companies that respond to customer feedback have a customer retention rate that is 12% higher than those that do not. Hence the importance of constant communication.
McKinsey & Company also demonstrated that companies that collect and act on customer feedback have a product or service quality improvement rate up to 30% higher than companies that do not.
When to send surveys to get the most benefit?
It's essential to give the customer enough time to fully experience the product before asking for their feedback. This way, they will have a more complete idea of what the product offers and can provide a more accurate assessment.
If it concerns sales interactions or support, the best time to ask for the customer's opinion is immediately after it occurs. If it involves feedback on a product, it's important that the customer has had a chance to evaluate and try it out thoroughly.
Moreover, it is important to keep in mind that CSAT surveys should be sent regularly over longer periods, just like Net Promoter Score (NPS) surveys with quarterly or semiannual cadence periods. This way, the company can continuously track how customers perceive their experience and make adjustments accordingly.
How do we do it at Bookline?
One of our products is a conversational chat for conducting satisfaction surveys. Here are some details:
100% customizable. Add the questions you want, however you want. Ask what brings you the most value and adjust the bot's communication tone.
Decide when to send it. A day after? With a QR code when delivering the bill? Calculate the best time to survey your customers.
Report with all the data. Analyze the responses obtained through a report to decide the best strategy.
Below is an example of a conversation:
