Measuring Customer Experience is the Key to a Successful Business

Imagine a scenario you went to the local art gallery. You liked some paintings, but you could buy neither of them because you did not have enough money. You finally decided to set aside some money and buy them soon, of course, if they would not have already sold out.

A couple of months later you were called by the art gallery to inform that they were about to host an art show and wanted to look at them before they put them on the auction. What would you like to say about it? Isn’t it good customer experience? Perhaps this would be the best customer experience.

Likewise, if you are running a business, you will have to make sure that you provide the best customer experience to your target audience. Providing an exceptional customer experience is undoubtedly hard, and measuring it is harder.

Whether you are running a small or large business, you need to keep your customers happy to grow in the long run, and therefore you will have to measure the level of customer satisfaction. Just because customers are visiting your website and ordering your products and services, you cannot assume that your customers have the best experience.

It is because you would have new customers every other day visiting your site. Your existing customers generally measure the level of customer satisfaction. If they are visiting now and then, you can say that they are satisfied with your brand, offerings and services.

The competition level is fierce, and this is why you must keep your customers happy all the time. You need to gauge the customer experience to ensure that users are satisfied with your products and services. Here is how to measure customer experience.

Use CSAT and NPS customer experience metric

Several companies use customer experience metrics like CSAT and NPS. Both of them are the commonly used key performance indicators to check out the level of satisfaction of your customers.

Some companies use both the parameters to track the level of customer satisfaction because both the parameters demonstrate the different results. CSAT measures customer satisfaction based on the product, service you offer, and NPS tracks customer loyalty.

It is generally recommended to use both types of key performance indicators because the former does not allow you to gauge the relationship of your customers with your brand. CSAT has a limited score than NPS.

For instance, CSAT is effective to answer the question “How would you rate the chat you have had with our customer care executive?” but NPS can help you get answers to questions that are exclusively made to know how much loyal your customers are. For example, how likely you will recommend our Product X to your friends?

Get customer feedback at the right time through the proper means

Apart from key performance indicators, you can also get feedback from your customers to judge the level of satisfaction. Since your customers do not have enough time, the customer feedback process must be short and easy.

Further, it is equally essential to reach out to your customers at the right time. For instance, if you ask your customers to give feedback on the experience they have had on the phone while talking to your customer care executive, they will likely hang up.

It is not surprising that the customer does not take it seriously after talking for 10 minutes on the phone. The method of collecting customer feedback is not just paramount. You also need to be careful about the timings. Before you get to the procedure of getting customer feedback, use customer journey analytics to find out the stage of customer engagement.

If you keep asking your customer for feedback at every stage, you will leave them frustrated and fail to reach your goal of introducing improvements where you are lacking.

Analyse the churn rate

Customer churn rate reflects the number of customers who have opted out subscribing to your services. The higher the attrition rate, the poor your customer service is.

Sometimes the churn rate can be higher even if you are getting new customers every other day. It is why it is not considered a decisive factor to determine the level of customer satisfaction.

Most of the entrepreneurs do not bother to reduce churn rate because they can offset it against acquiring new customers. Still, the fact is acquiring new customers are more expensive than retaining current customers.

Conduct customer surveys

Key performance indicators can help you gauge the level of customer satisfaction, but the best way to know about how your customers feel about your brand, products and services is by talking to them. One of the most popular and easiest ways to do is conducting customer surveys. As you know that customers go through multiple stages of the buying process, you should conduct surveys at every stage. Note that you should design the survey bearing in mind the NPS. Make sure that the questions you set for conducting the survey let you know about their experience as well as their loyalty.

Whether you have been running a business for a long time or have a start-up, you need to figure out the level of customer satisfaction. Customers are the essential assets of the company, and hence you should make all possible efforts to provide them with good experience. The growth of your business depends on how much happy and satisfied your customers are.

Starting a business is complicated and running it successfully is more complicated – after all, you have to meet all expenses, including the repayments of doorstep loans 4 unemployed people.

As long as you are providing excellent customer experience, your business will keep growing.

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