We unravel the factors that influence customer satisfaction
Customer satisfaction is a factor that defines whether the customer will make another purchase of our product or service, differentiating a company from the competition, reducing customer churn and increasing customer recommendations either by word of mouth or reviews in different media.
In short, it is a fundamental factor for the survival of companies and their prosperity. Hence, last year the customer experience management market had an estimated value of 7.6 billion dollars worldwide, a figure that is growing by leaps and bounds as every company is more than interested in knowing how to satisfy a customer. On the other hand, a Gartner study reports that 80% of companies that have a constant growth use customer satisfaction surveys, while those that do not use them grow only 58%, so the key to success is to take advantage of this information.
For all these reasons, this time we will focus on giving an overview of the key factors to consider so that customer satisfaction is an element that will help your company to achieve business success.
What is customer satisfaction?
Starting from a general marketing perspective, customer satisfaction is defined as the degree to which a product or service meets or exceeds the consumer’s expectations. This indicator reflects the quality of the service provided and the likelihood of customer retention and loyalty.
First, it is important to understand that customer satisfaction is not an isolated objective, but a comprehensive strategy that affects multiple aspects of the business. From customer loyalty to positive word-of-mouth, the effects of satisfaction extend to all areas of the business. A satisfied customer is not only more likely to return, but may also become a brand advocate, recommending the products or services to friends, family and colleagues. This personal recommendation is often referred to as word-of-mouth, but has now escalated to viral levels thanks to social media, and is one of the most powerful forms of marketing.
In addition, customer satisfaction can result in significant cost savings. Acquiring a new customer can cost anywhere from five to twenty-five times more than retaining an existing one. Therefore, investing in customer satisfaction is an economically smart strategy that can improve profit margins in the long run. Value for money also plays a crucial role in this context. Customers who perceive that they are getting good value for their money tend to be more satisfied and thus more loyal.
Tangible and intangible values
It is clear that the quality of the product or service is a determining factor in customer satisfaction. If it meets customer expectations in terms of functionality, durability and performance, it is more likely to generate satisfaction. However, quality alone is not enough, and customer service is equally crucial. Efficient, friendly and responsive customer service can make the difference between a dissatisfied customer and one who becomes a brand advocate.
To reinforce this, there are tangible and intangible values in business. The former are those that can be perceived with the naked eye. For example, when buying a piece of furniture, see the materials it is made of, how resistant it is to shocks, how easy it is to clean, how long it lasts, among other factors that can be summarized as “quality”.
Price is also an important factor. Customers are looking for products and services that offer value for money. Fair and competitive pricing can increase the perception of value and satisfaction. In addition, the ease of use of a product or service also plays a role; products that are simple to use and accessible tend to satisfy customers better.
However, according to an article by Christine Barney, a Forbes board member and leader in the field of PR and marketing, customer satisfaction is not always based on tangibles, such as price and services, but rather on feelings, which are more difficult to measure but very powerful in forging business relationships.
Among the intangible values that have a strong impact on consumer sentiment are brand recognition, loyalty, patents and, of course, attention and focus on the needs and experience of each individual.
Customer satisfaction is not only about meeting customer expectations at the time of purchase, but also about providing excellent after-sales service. Fast and efficient response times in customer service and problem resolution are essential to maintaining high levels of satisfaction. Consumers value quick responses to their queries and problems. This enhances their experience and strengthens their brand loyalty.
What are the ways to achieve customer satisfaction?
As a contact center company, this time we want to specifically address the tools our industry has to increase customer satisfaction for our clients. In case you want to know more in detail what call center services are and how they help companies, we invite you to get to know us.
In this context, call centers not only manage customer interactions, but also provide a platform to solve problems quickly and efficiently. By offering 24/7 availability and multiple communication channels, contact centers can ensure that customers receive support when they need it and in the way they prefer. This is especially important in today’s world, where customers expect immediate and efficient customer service.
The ability to personalize interactions is also a crucial aspect of contact centers. Using advanced customer relationship management tools, we can offer personalized service based on the customer’s history and preferences. This personalization helps build stronger and more satisfying relationships with them, which in turn improves customer satisfaction.
By considering outsourcing customer service to a contact center, companies can ensure that their customers receive the best possible care at any time and through any channel. This strategic decision can make a significant difference in customer perception and loyalty to the company, as this type of BPO has experience measuring the satisfaction of the groups assigned to them.
How do we measure satisfaction in a customer service call center?
In a previous post we mentioned several ways to measure customer service. However, this time we want to specifically address the tools available to contact centers. Here we show you the most common cases:
- A concrete example is the use of post-interaction satisfaction surveys at a station specializing in technical support for electronic products. After each support call, the customer receives a satisfaction survey in his email with questions such as:
- How would you rate your experience with the agent who assisted you today (scale of 1 to 5).
- Was your issue resolved in this interaction (Yes/No)?
- How likely would you be to recommend our services to your friends or colleagues (scale of 0 to 10).
- The results of these surveys are analyzed periodically to identify trends and areas for improvement. In addition, customers who give low ratings are specifically tracked to understand their problems and take corrective action.
- Resolution time, i.e., how long it takes an agent to resolve customer issues, is a key metric in call centers. FCR (First Call Resolution) is tracked, which measures the percentage of problems resolved on the first call or contact. The higher this indicator grows, the greater the efficiency and customer satisfaction.
- Another example is the use of Net Promoter Score (NPS) in a telemarketing campaign. After each sale, the customer is asked about their willingness to recommend the service, and their response is categorized. The results help identify the most satisfied and loyal customers, as well as those who may need additional attention to improve their experience.
- The Customer Effort Score (CES) evaluates the effort the customer must make to resolve a problem. Thus, it is often measured by asking “how much effort did you have to make to resolve your request today?”.
Contact centers play a crucial role in achieving these goals by providing high-quality customer services that contribute to a superior customer experience. Investment in customer satisfaction is therefore an investment in the future success and growth of the company.