Customer Satisfaction Metrics (CSM)

Looking for business growth and excellence. Most investors will tell you that the best place to look is right in front of you: Customer Satisfaction Metrics.
 
TAMPA, Fla. - Nov. 23, 2016 - PRLog -- "A satisfied customer is the best business strategy of all," ~ Business Author and Professor Emeritus at the University of New Orleans, Michael LeBoeuf.


Measure and Invest in Customer Satisfaction Metrics

Customer satisfaction metrics are hugely significant for departments and organizations that rely on relationships to keep operations rolling. If you fit this bill then it's a good idea to invest in the tools and technologies that will allow your teams to monitor, measure, and make business gains by keeping up rates of customer satisfaction or happiness. Don't think this is relevant for your division? Then you may want to consider that several studies have clearly indicated that well-served and happy customers not only remember your business, they're more likely to return for future purchases and to encourage others to do the same. In fact when you crunch the numbers for many organizations, the probability of selling something to a new prospect is about 5 to 20 percent versus 60 to 70 percent for an existing customer. To put it simply, customer satisfaction is not just a nice idea. It's been proven to be cost-effective. As an article titled Beating the Market with Customer Satisfaction from the Harvard Business Review explained, "Companies with high customer-satisfaction scores have blown the S&P 500 out of the water. Not only have they produced higher stock returns, but their stock values and cash flows have been less volatile. Leaders who do not actively work to increase customer satisfaction will be responsible for damaging their companies' future earnings and shareholder value". Learn more about Customer Satisfaction Metrics by visiting the USF Technology blog at https://hscweb3.hsc.usf.edu/is/.


What Types of Metrics Measure Customer Satisfaction

Here's a list of several questions that can be used to collect some preliminary customer satisfaction metrics. Whether they're students, patients, internal or external organizations, you should have a good understanding of the following:

  > Customer's overall satisfaction with the product or service
  > How well products and services meet customer's expectations
  > How customers perceive the usefulness of the product or service
  > How easy it is to find and access the product or service online, etc.
  > How likely customers are to recommend products and services to friends
  > How well communicated sales and marketing messages were for audiences
  > Whether or not the customer would return to make purchases in the future
  > Availability of convenience tools, such as websites and digital applications/apps
  > How up-to-date the products and services appear alongside related market resources

How to Measure Customer Satisfaction

There are several effective tools available that will grant you detailed insights into your customers, including how well you're connecting with and meeting their needs (e.g. scheduling appointments, completing courses, using your website). One especially invaluable asset in this venture for organizations that have a well maintained website is an up-to-date SEO a.k.a. search engine optimization report. A timely SEO analysis will reveal everything from exactly who is coming to your website(s) and how quickly they were able to find what they were looking for to the effectiveness of various site components (e.g. information, navigation, multimedia, forms, etc).

Considering the growing population of people who are actively using the internet for everything from their healthcare and education to entertainment and e-commerce needs, maintaining a strong web presence and understanding the best ways to benefit from the customer satisfaction metrics therein can be critically important.

5 Tools to Measure Customer Satisfaction

Here's a list of five tools that can be used to analyze your customer satisfaction metrics. Ultimately, these tools can make a difference in your ability to serve up satisfaction for your customers:

  > SEO Reports (incl. Website Audits)
  ? User Persona Reviews of Clients
  > Customer Satisfaction Surveys
  > Heatmap Reports
  > A/B Tests

It's generally a good idea to speak to someone who has a good bit of experience when you're considering a project that involves the collection, analysis, and application of customer data (e.g. customer satisfaction metrics and related data) to make sound business decisions. For example, many departments right here at USF can consult with USF Health Information Systems for any such services and related resources. So, take just a moment out of your day to think about how you could benefit from greater understanding of your customers. Start a conversation with your team(s) to see who you can collaborate with to better satisfy your customers in the upcoming quarter.

Edward C. Johnson II, the successful founder and CEO of Fidelity Investments and Fidelity International, remarked that "customer satisfaction" was at the heart of his business' immense success over the years. He also explained that in order to succeed both individuals and organizations should, "Make only the investment decisions about which you have a reasonably high level of conviction" (The Book of Investing Wisdom by Peter Krass). That's a relatively simple but often overlooked lesson.

We're always looking for the next big something to help our teams, department, and companies to grow and achieve excellence. However, most investors will tell you that the best place to look for your next victory is right in front of you. How much conviction do you have in your decision-making when it comes to your customers? You certainly should seek the data and resources that you need to understand, connect with, and satisfy the people that are right in front of you, that your organization touches on a daily basis. But, are you really investing in their satisfaction? If not, then you may be missing out on one remarkable opportunity.

Contact
USF Health Information Systems
***@health.usf.edu
End
USF Health Information Systems News
Trending
Most Viewed
Daily News



Like PRLog?
9K2K1K
Click to Share