CRM G9 Customer Satisfaction Metrics PDF

**CRM G9** **[tools to measure customer satisfaction.]** - **Net Promoter Score (NPS)** - a customer loyalty measurement taken from asking customers one important question - **Customer Effort Score or CES** - another popular service metric that aims to measure the efforts put in by cu...

**CRM G9** **[tools to measure customer satisfaction.]** - **Net Promoter Score (NPS)** - a customer loyalty measurement taken from asking customers one important question - **Customer Effort Score or CES** - another popular service metric that aims to measure the efforts put in by customers to interact with your products/services or business. According to a **Gartner study**, consumers are 4 times more likely to become disloyal to a business after a difficult customer service experience. - **Customer Satisfaction Score or CSAT** - one of the top metrics to measure customer satisfaction. asking us about how satisfied we were. usually give customers the option to rate their experience on a scale of 1-5. Only consider responses of 4 (Satisfied) and 5 (Very Satisfied) - **Customer Health Score (CHS)**- popular metric used by customer success teams to determine if customers are healthy (likely to stay) or at-risk (likely to churn). This helps you carefully segment your audience and bring the focus back to atrisk customers. monitor the level of customer churn or gauge the success of upselling strategies **[top inputs to measure the customer health score: ]** - PRODUCT USAGE - DEPTH OF USAGE - BREADTH OF USAGE - GROWTH OF THE ACCOUNT - THE NUMBER OF CUSTOMER SERVICE INTERACTIONS - **Customer Service Satisfaction or CSS** - helps your business measure how satisfied customers are with your post-sales service. **important indicator of customer satisfaction**, this metric is calculated by sharing appropriate surveys with customers right after their support interaction. allowing them to instantly rate your service - **customer reviews** - refers to subjective feedback by a customer who has purchased and used your product or service. help you leave a positive impression in the minds of your prospective customers and ensure they end up purchasing more - **Customer Churn Rate (customer attrition)** - refers to the percentage of customers who stop doing business with your company. **business churn is inevitable**. with the help of CCR, you can understand whether churn has reached an alarming rate or not. - **Abandonment rate** - refers to the percentage of customers who terminated an interaction with your business before the desired action could be completed. considered as one of the key customer satisfaction metrics because it shows how satisfied customers are with their interactions with your company. Also **determines the effectiveness of a customer's interactions** at various touchpoints. - **First Response Time or FRT** - refers to the amount of time taken by your team to respond to a customer issue or request. - **First Contact Resolution or FCR** - another important metric for customer satisfaction. refers to the percentage of tickets that are resolved by your team on the first interaction with the customer. **customer service satisfaction survey** - a tool to collect customer feedback regarding their experience with your customer service department. **designed to measure customer satisfaction levels**. they can also identify areas for improvement in your service department and uncover product areas that need attention **[Customer Satisfaction Question Types & Survey Design]** - **Binary Scale Questions** - yes/no or thumbs up/thumbs down - **Multiple-Choice Questions** - have three or more mutually exclusive answers. These tend to be used to collect categorical variables like names and labels. - **Scale Questions** - Many popular satisfaction surveys are based on scale questions - **Semantic Differential** - Similar to scale questions. Based on binary statements, such as disagree and agree, but **respondents can choose from a wide number of points between them.** That means customers don\'t have to pick just one or the other --- they can choose a point between the two poles that **reflects their experience accurately**. - **Open-Ended Questions** - To find out the why, you need qualitative data, which you can get from this type of customer satisfaction survey question. Qualitative questions allow customers to **tell you the real why behind their satisfaction**, without you having to make assumptions about what matters to them - **Net Promoter Score (NPS)** - a common metric used in customer experience programs measures customer loyalty by looking at their likelihood of recommending a given business. **gold standard customer experience metric.** developed in **2003** by **Bain and Company**, it's now **used by millions of businesses** to measure and track how they're perceived by their customers. NPS scores provide a snapshot of your overall customer experience. NPS measures customer perception based on one simple **question**:"**How likely is it that you would recommend** \-\-\-- - **[Promoters]** respond with a score of 9 or 10 and are [typically loyal and enthusiastic customers. ] - **[Passives]** respond with a score of 7 or 8. They are [satisfied with your service but not happy enough to be considered promoters.] - **[Detractors]** respond with a score of 0 to 6. These are [unhappy customers who are unlikely to buy from you again], and may even discourage others from buying from you Good Net Promoter Score Above 0 is good Above 20 is favorable Above 50 is excellent Above 80 is world-class A perfect score of 100 indicates that every survey respondent would recommend a company to someone else---a score that nobody has ever achieved. **[How can a business improve its net promoter score]** - GET EVERYONE INVOLVED - FIND A CONNECTION - ASK PROMOTERS FOR THEIR OPINION - ASK DETRACTORS HOW YOU COULD IMPROVE - PROMOTE CUSTOMER ADVOCACY - IMPROVE FRONT-LINE COMMUNICATION - CONSIDER WHETHER YOUR PRODUCT IS AT FAULT **12 best NPS survey software platforms** - Refiner.io - Promoter.io - Delighted - AskNicely - SurveySparrow **[NPS]** - a **powerful and motivating metric that inspires action across businesses of all sizes.** Helps companies organize around the mission-critical objective of earning more enthusiastic customers, and the **score** itself **can be easily tracked and quantified over time.** **CRM G10** **case study** - provides a detailed analysis of the positive outcomes achieved as a result of implementing your solution. - an effective way to showcase the value of your product or service to potential customers without over selling. - essential in the field of customer relations as they provide real-world examples of how products or services effectively solve customer problems, showcasing tangible benefits and outcomes. - They help build trust and credibility by demonstrating success stories, allowing potential customers to visualize the value offered. - serve as powerful marketing tools that can attract new customers by illustrating the effectiveness of customer service and relationship management strategies. **How to write a case study** 1. Introduce the customer 2. state the problem 3. Introduce your product 4. Show results 5. Power it **Case study best practices** - Avoid jargon - Spend time on your title - Edit. Then edit again - Pay attention to the imagery - Pull quote - Make it scannable - Record your interviews - Don't forget the call to action (CTA) **Industry leaders -** individuals or organizations that have achieved notable success, influence, and innovation in their respective fields. serve as role models and sources of inspiration for others looking to advance their careers or improve their practices. - **McDonalds:** Chairman & CEO Chris Kempczinski - **Amazon:** Jeff Bezos - **Apple:** Steve Jobs, Steve Wozniak, and Ronald Wayne. **CRM G11** **Customer relations** - crucial aspect of any business. - refers to the ways a company interacts with its customers to build positive relationships. - includes all actions taken by a business to ensure that customers are satisfie during and after their purchase. - process aims to create loyalty and trust, encouraging customers to return for future purchases **customer relation strategy** - a plan that businesses use to manage their interactions with customers to improve customer service , and to grow sales. - focuses on building strong relationships by understanding customer needs, providing excellent service, and ensuring satisfaction. includes both responding to customer issues and proactively engaging with them to create loyalty and encourage repeat business. - helps build strong relationships with customers, leading to increased loyalty and satisfaction. **how to develop an effective strategy step by step:** 1. **Understand Your Customers** - The first step in developing a customer relation strategy 2. **Set Clear Goals** - next step 3. **Train Your Team** 4. **Create Consistent Communication** - key to maintaining good relationships with customers. 5. **Gather Feedback Regularly** - To improve your customer relations strategy continuously 6. **Personalize the Experience** - 7. **Monitor Performance Metrics** - using key performance indicators (KPIs) **customer relationship management plan** - outlines the goals, and objectives of an organization with the purpose of improving customer satisfaction and loyalty. focus on improving customer service and developing customer relationships. **CREATING A CUSTOMER RELATION PLAN** - Define Your Goals - Identify Your Audience - Develop a Customer Service Strategy - Establish Communication Channels **Implementing the plan** - requires a structured approach to ensure that the intended activities and outputs are executed as planned **Monitoring the plan** - tracking and evaluating the progress of the implemented activities and outputs against the planned schedule, budget, and quality standards. **Implementing and monitoring the plan examples** - Logframe Development - Activity Implementation - Monitoring and Evaluation - Regular Reflection and Adaptation - Stakeholder Engagement - Risk Management - Evaluation and Impact Assessment **CONTINUOUS IMPROVEMENT** - the ongoing process of identifying, analyzing, and making incremental improvements to systems, processes, products, or services - **Evolving Customer Needs** - Regular evaluation and adaptation of the plan ensure that you stay relevant. - **Competitive Landscape**- Continuous improvement helps you stay ahead of the curve and maintain a competitive edge. - **Market Dynamics** - Adapting to these changes is vital. - **Enhanced Customer Satisfaction** - By continuously refining your approach, you can deliver exceptional customer experience, leading to higher satisfaction and loyalty. - **Increased Customer Retention** - Satisfied customers are more likely to repeat business and become brand advocates. - **Boost in Sales and Revenue** - Loyal customers drive increased sales and revenue, contributing to long-term business growth. **Types of continuous improvement processes** 1. **Lean Management** - aims to streamline processes, reduce non-value-added activities, optimize resource utilization, and enhance productivity. 2. **Six Sigma** - employs statistical analysis to measure and analyze performance, identify areas of improvement, and reduce process variation. 3. **Total quality Management (TQM)** - a process management philosophy that emphasizes customer satisfaction and continuous improvement. 4. **Agile methodology** - promotes iterative and incremental improvement. 5. **the PDCA Cycle** - The Plan-Do-Check-Act (PDCA) or Deming Cycle is a four-step iterative process for continuous improvement. **STEPS FOR CONTINUOUS IMPROVEMENT IN CUSTOMER RELATIONSHIP PLAN** - Gather customer feedback - Identify areas for improvement - Set clear goals - Develop and implement action plans - Monitor and measure results - Learn and adapt