96.7% of unhappy customers never let out even a squeak of dissatisfaction to the organisation that has given them bad service
… unless that organisation makes the effort to proactively ask them for their feedback.
Yet the bad news is these unhappy customers are more than happy to tell others; research shows Karl Albrecht (The Service Advantage, Dow Jones, New York, 1990, p. 199) they will tell at least 15 other people about their sub-standard experience. And with the continued rise of review sites and social media channels, never before has it been easier to post a disgruntled rant to your ‘followers’.
An organisation out of touch with the sentiment of their customers is an organisation in trouble.
This trouble can manifest in many ways:
- Poor new business sales,
- Low repeat business and high customer attrition rates,
- Products and services that miss the mark and are out of alignment with true customer wants and needs,
- Gut feel decision making as opposed to data-driven decision making,
- Brand positioning that doesn’t resonate.
The good news is that, if asked in an appropriate way, most customers will be happy to tell you their opinion. You just need to give them a voice.
Indeed seeking feedback from your customers will deliver you a rich vein of actionable insight and ideas to help drive your business forward and stay ahead of your competitors.
What’s the financial return?
According to a study by the University of Michigan, companies with the most satisfied customers have financial results that dwarfed the Standard and Poor’s (S&P) 500 Index. Their study showed that companies with the happiest customers gained in value by 75% over a 5 year period Vs just a 19% gain over 5 years for companies on the same Index with average customer satisfaction levels.
When the linkage between financial performance and customer satisfaction is so clear and compelling, there’s no reason to second guess your customer’s views and no need to play Russian roulette with key business decisions regarding your customers.
A smart approach is to surround yourself with actionable customer insight and analytics from PeoplePulse.
Get a Live Demo:
Call us on +61 2 9232 0172 to discuss your Customer Satisfaction survey needs, and for a free, no-obligation online demo. Alternatively, please click on “Get a Live Demo” below:
PeoplePulse’s customer surveys can be mobile optimised to enable your customers to give you feedback from anywhere at anytime.
Save time when analysing free text comments with our automated word cloud functionality. Your customer’s most common words or phrases can be highlighted and analysed with the click of a button.
PeoplePulse Customer Satisfaction Surveys – What you receive:
Webinar: Customer Surveys
How to Generate Revenue through Customer Feedback
Whilst many organisations collect feedback from their customers, a surprising few take advantage of the opportunity to directly grow their sales. Watch this free online webinar for 6 smart and practical ideas to help you generate revenue through your customer surveys.
Why Choose PeoplePulse?
Trusted by over 1,000 organisations since we were established in 2003, PeoplePulse combines the very best in online survey software & reporting with your own Project & Account Manager – with you every step of the way. Survey reporting experts from our Insights Division can even prepare, present and workshop your results for you, so you can free up your time to focus on implementing the insights you’ll gain.
Trusted by over 1,000 organisations since 2003: