In the customer-centric world, a business needs to know if its customers
are happy or not. Customer satisfaction is like a tool that helps
businesses figure out how well a company is doing to make customers happy
and meet their expectations. In this blog, we'll talk about what customer
satisfaction is, why it's so important, and how businesses can use it to
make their customers' experience even better.
What is the CSAT?
CSAT, or customer satisfaction, is a metric used to measure the overall
satisfaction of customers with a company's product, service, or
interaction. It is often assessed through surveys where customers are
asked to rate their satisfaction on a scale, typically ranging from very
satisfied to very dissatisfied.
How to Measure CSAT?
The CSAT measurement procedure normally has 5 steps. They are-
Create a CSAT survey: Keep it simple: Craft concise and clear questions related to a specific
interaction or experience. Use a rating scale: The most common scale is
from 1 to 5, where 1 represents "Very Unsatisfied" and 5 represents "Very
Satisfied".
Ask simple questions: When you want to know something, just ask straightforward and short
questions. Make sure they're easy to understand.
Features and functionality:
Since a real estate CRM must be able to communicate with leads,
prospects, and past clients in a variety of ways, we investigate how
each feature meets the particular requirements of real estate agents
and their teams. It aids in client care from initial contact to final
sale and beyond.
Use a rating system:
Imagine giving a grade from 1 to 5, where 1 means you didn't like it
at all, and 5 means you liked it. This helps to see how much people
enjoy or dislike something.
Pick the right time:
Ask people about their experience right after it happened. This way, they
remember it better, and their answers are more accurate.
Be Specific in Your Questions:
If you're checking how good a service was, ask questions like, "How much
did you like the help from our support team?" Focus on what you really
want to know.
Calculate the CSAT score
Add up the good responses and find the percentage. It's like figuring out
how many people liked it out of everyone who answered. For example, let's
say you received a total of 100 responses, and 60 of them are positive.
The calculation would be: (60/100) * 100 = 60% The CSAT score is 60
percent (which is quite good and gives you an indicator that there is also
something that needs to change!).
What is a good CSAT score?
The benchmark for a favorable CSAT score varies by industry, but in
general, a score of 75% or higher is regarded as good, considering the
maximum score is 100. An excellent CSAT score typically falls above 85%.
Here is a breakdown of 2023 industry averages from the American Customer
Satisfaction Index (ACSI):
Internet providers: 64 Social media: 71 Online news: 73 Streaming: 74
Hotels: 75 Online search: 75 Airlines: 76 Fast food restaurants: 76 Online
travel: 76 Specialty retail: 77 Automobiles: 78 Banks: 78 Software: 78
Apparel: 79 Cell phones: 79 E-commerce: 80
Why is CSAT important?
Nowadays, customers want the best from a company, particularly when
they're loyal to a brand. According to Zendesk Customer Experience Trends
Reports 2020, Just one bad experience sends more than 50% of your
customers to a competitor, while more bad experiences increase that to
80%. Here are some major reasons behind the importance of CSAT:
To keep customers happy: When customers are happy, they stick around with your company. CSAT helps
a company know if customers are satisfied.
Tell Others About It: Happy customers like to share the good news. When people have a good
experience with a company, they tell their friends. This positive
word-of-mouth brings in new customers and helps the business grow
naturally.
Identifying Areas for Improvement: CSAT scores show where a company is doing great and where it can do
better. By looking at these scores, a business can figure out what to
improve, like products, services, or how they treat customers.
Stand Out from the Crowd:In a big market where many companies are similar, a high CSAT score makes
one company shine. Customers are more likely to pick a business known for
making customers happy. It's like a secret weapon in a competitive market.
Closure
Tracking Customer Satisfaction (CSAT) is a great way to understand what
your customers think about your company, services, and products. It's the
starting point for making important improvements to your organization, and
using automation software can make this process even easier. To get the
right software that all make your work easy, contact iHelpBD! We are
always here for you.
