4 Reasons You Need To Be Tracking Customer Satisfaction
Tracking customer satisfaction enables you to keep a finger on the pulse of your customers so you can continue to deliver a great customer experience
Here are four reasons why your company needs to start measuring customer satisfaction
1. Marketing costs are expensive
It now costs five to six times more to acquire a new customer than it does to retain an existing customer. With more and more competition popping up, your marketing costs are rising as you need to try and attract new customers.
2. A lot can go wrong during the lifetime of a contract
As different problems arise and different account managers handle customer inquiries, your client will be receiving numerous customer experiences. With no customer satisfaction tracking, you are going it blind and don’t know how your customers really feel about your service
3. Happy customers refer new business
By ensuring your customers are satisfied, you are putting yourself in the best possible position to create customer advocates that will send you business referrals
4. Customers defect to competitors based on perceived value
Tracking customer satisfaction and then benchmarking it against others in your industry will help you discover how you stack up against the rest and see if you are at risk of clients potentially defecting to competitors.
Complete a competitor analysis and discover who you should be benchmarking against.