How do you know your customers are happy? This may seem like a simple question but the truth is that many companies make a huge mistake in their efforts to determine whether or not their customers are happy. Sometimes, they don’t measure the right feedback indicators. Even worse, there are some companies who don’t measure feedback at all. It’s not enough to just provide exceptional customer service or deliver a fantastic product. As the lifeblood of your business, you have to know how your customers feel about your products and services and put in the right mechanisms for monitoring their feedback.
So how do you know your customers are happy? The answer is to track and measure the right customer feedback statistics. If you don’t know what they are, we at Happy Fox can help. Here are 7 customer feedback related metrics that you should be monitoring to help you measure customer feedback more
7 metrics to help you measure customer feedback effectively
- Net Promoter Score
Your Net Promoter Score (NPS) is a measurement of how many customers like your product or brand enough to recommend it to others. You’ll always want to ensure that the majority of customers will be willing to recommend you to others to give you a positive NPS. Companies with a positive NPS will get more referrals, and also demonstrates how loyal their customers are.
- Overall Satisfaction
The most obvious feedback metric that you need to measure from your customers is their overall level of satisfaction. In fact, measuring overall satisfaction is a 30% better predictor of customer happiness than measuring happiness for each individual interaction. It is recommended that you set up internal benchmarks to track new results against the old, set goals, target problem areas, and improve your customer service.
- Satisfaction improvement
Are your customers experiencing increased levels of satisfaction over a period of time? If they are then you know that you’re doing something right and that your efforts at delivering exceptional customer service are paying off. If not, then you know that you have some work to do in tightening areas of your customer service provision.
- Complaint escalation
Keeping track of how many customers escalate their complaints is another important piece to measure. If you’re receiving a large number of complaints, or the percentage of complaints is escalating, then you may have a serious problem with your products or customer service.
- Customer loyalty
Do customers intend to continue to purchase from you? Your customer’s loyalty to your business is a major determining factor for your business’ future growth, and is one of the important base metrics for your NPS.
- Brand attributes
What’s the first word that comes to your customer’s mind when they think of your brand? Does their perception of your company differ from yours? By measuring your customer’s feelings about your brand by using tools such as a brand attributes survey, you will learn what qualities your customers see in your brand and help you to ensure that both you and your customer are on the same page.
- Expectation vs perception
Is your company continually meeting the expectations of your customers? Even if you are providing what you believe is exceptional customer support, your customers may feel otherwise. AS a result, it’s important to measure whether the service that they receive is living up to their expectations.
By tracking these 7 important feedback metrics, you can better tailor your service to increase your customer satisfaction. Are there any other customer feedback metrics that you track? What do you think is the most important feedback metric for any business to track? Let us know in the comments section below.
If you want to learn more about HappyFox and how we can help you to leverage these metrics, schedule a live demo of HappyFox!