Customer retention is absolutely essential for a healthy company. In fact, a Bain and Company study found that a 5% increase in retention can result in an average profit increase of nearly 40%. Below, we share some of the ways that you can use CSAT and customer feedback to increase your customer retention, and keep your brand competitive.
Make CSAT personal
Being open and engaging with someone you’ve never met can be a challenge, but if you make your customer feel like a true partner in business, they will be far more likely to engage with you. When reaching out for customer feedback, add personal touches to your emails, blog, and social media accounts, and follow customers back to make them feel valued by your brand.
You can also provide behind the scenes insight on your blog into how your company works. You can do this by posting photos and videos that feature your employees, processes, and your contact information. Seeing the real people who take care of their tickets breaks down the digital barrier, and makes customers feel more comfortable reaching out to your company, leading to increased customer satisfaction.
Give them something
Nothing feels better than being rewarded with something extra for the time and money you spend. Offer extra benefits to the customers who contract with you or who reach out to your support desk. We send thank you cards, and sometimes cool swag, like a pair of SmileBack socks.
Prioritize the customer’s experience
We all know by now that customer experience can be the key brand differentiator, no matter your business.
Talk directly with employees to get insight into what customers are looking for in their one-on-one interactions. Then, collect and organize data on the most frequently asked questions on your support inbox, and which of your services or products are utilized most frequently.
Use this employee and customer feedback to create meaningful blog posts and headers on your website, to show your knowledge, and build trust with customers who might be on the fence about reaching out to your company again.
Don’t wait to address customer feedback
An Oracle study found that 50% of customers wait one week for a company’s response before abandoning the service entirely. So, it’s in your company’s best interests to make customer service resources available, over the phone and online, so that every customer can have their needs addressed as soon as possible.
With so many options for every product or service at the world’s fingertips, offering great customer service will make your company stand out and increase your customer retention. Collecting data on your customer satisfaction scores, gaining insight into customer feedback, and developing real brand loyalty are all important for gaining life-long customers.
Reduce churn and keep a healthy bottom line.