The best way to find out about your customers' impression about your products, services, and customer support is to genuinely ask them. This is the reason why it's a vital step for so many companies to measure the satisfaction rate of their customers.
It is a very useful customer experience tool which gives great insights into your customer base.
The most common way to measure how customers feel about your business offerings and service is by sending customer satisfaction (CSAT) surveys. These surveys enable customers to rate their experiences and share open-ended feedback that are more than just a Yes/No.
What is a CSAT survey?
A CSAT survey is a great tool for unhappy customers to voice their issues, which gives the company a chance to regain the unsatisfied customer’s loyalty before it’s too late.
What is a CSAT score?
CSAT score, short for customer satisfaction score, is a CX metric that measures how your customer feels about your offerings and support. It essentially measures your customer's happiness with your overall company via a CSAT survey.
A CSAT survey consists of open-ended questions that help figure out customer satisfaction with a specific experience.
A typical example of a CSAT survey question would be:
How likely are you to recommend our support to a friend or a family member? Answer choices are graded on a scale, usually from 1-5, 1 representing highly unsatisfied and 5 representing highly satisfied.
What is considered a good CSAT score?
A good CSAT score will typically lie between 50% and 85%. However, CSAT scores vary by industry. It's difficult to obtain a near-perfect CSAT score.
A CSAT score of 75% is excellent, but not always easy to achieve.
It's important to remember that even though it can be painful to read negative responses, they're in fact, much more helpful.
Anything around 50% or higher is usually considered an excellent CSAT survey response rate.
In fact, the average CSAT survey response rate across all industries is about 15%. And no, that's not a bad score at all.
The number of customers responding to your surveys can vary on factors such as how convenient they are to fill. Also, a lot depends upon the demographics of the audience you're surveying.
How to improve your CSAT score?
To improve your CSAT scores, consider analyzing your customer journey. The more you'll place your customer's needs and expectations at the heart of your operations, the higher would be your customer satisfaction.
Some of the best strategies you can implement to improve your CSAT score:
1. Improve customer support
Consider using AI tools to monitor and analyze your customer support data, and translate the data into action. These tools prove to be a lot more accurate than human analysis.
2. Offer multi-channel support
Your support must be convenient for your customers, which means you need to offer multi-channel support – with in-app chats, on your social media channels, and website, among all other potential communication channels.
3. Ask for open-ended feedback
Honest and detailed feedback is a lot more than statistics. Open-ended customer feedback is feedback that can’t just be answered with a simple Yes/No or with multiple choice questions.
Open-ended survey questions help obtain respondent's raw opinions and feelings about your service. Voxco's powerful online survey tools are great for open-ended feedback.
4. Close the feedback loop
The main purpose of a customer feedback loop is to gather, analyze, and act on customer feedback. Use survey softwares to gather customer feedback across multiple channels.
After analyzing your customer feedback, ensure that you “close the loop,” and let your customers know that you have implemented the required changes. It will help your customers know that you're listening to them.
How to calculate your CSAT score?
The CSAT score is pretty easy to calculate.
It is simply the percentage of all the CSAT survey responses you receive that are positive – i.e the sum of all positive responses, divided by the total responses collected, multiplied by 100.
The result is the overall percentage of satisfied customers for your business.
For example, if you had 200 positive responses out of 400 total responses, your CSAT score would be 50% (200 positive responses / 400 total responses × 100).
Before sending out surveys, it's good to decide on the key interactions you want to measure and get feedback on.
Uncover the key drivers of customer satisfaction with Voxco's expert written survey template.