The highly competitive world of modern business demands that companies stay ahead of the curve or risk falling behind. At the forefront of that curve is creating a positive customer experience that translates into brand loyalty, word-of-mouth promotion, greater market share and, ultimately, higher revenues. Without customer experience management, however, creating a consistently positive experience is more difficult than it needs to be.
Over the last 8 to 10 years, we have seen the emergence of the customer surveys as a tool for measuring customer satisfaction and loyalty. It all began with the introduction of the net promoter score in 2003. In the years since, the concept of improving the customer experience by making use of feedback has become almost an art form.
Customer retention has always been a part of long-term business success, as evidenced by statistics that suggest 80% of a company’s revenues come from just 20% of their repeat customers. Still, businesses have, over the years, not given customer retention a high position on the list of priorities. They are beginning to do so now by embracing strategic customer retention management methodologies designed to measure customer satisfaction and create a customer experience that virtually guarantees loyalty.
Companies genuinely interested in understanding how their customers think and feel about their businesses take the time to measure attitudes through surveys. How surveys are presented – including everything from the questions asked to the extent of branding – affect customer response. Therefore, surveys have to be about more than just satisfaction. They have to address the total customer experience, even if that experience was a bad one.