Customer satisfaction impacts sales performance, so much that you cannot even imagine. Profit is the main reason that any business exists. A business is said to be successful when its sales are humongous, and sales are directly proportional to customer satisfaction. Customers are those who buy and consume your product, whether you’re selling to businesses (B2B) or individuals (B2C). So sales are all about customers deciding whether or not to purchase your product. As a result, if your customer is dissatisfied with your product, you will lose sales.
Let us apply this to digital marketing. Now, let us assume you are running a store on your website and a large retail platform such as Amazon, Flipkart, etc. Amazon has around 9.7 million sellers worldwide, and 1.9 million are actively selling. Flipkart has 3.75 lakh sellers. And the number of people who sell clothing from their own websites is vast. Can you see it? You have a huge competition here. Another seller is ready to take your seat and sell his products. So, it is not just important to keep your customer satisfied, but your business needs to survive in the market.
What is customer satisfaction?
Let me explain this with an example. Let us assume that I am selling orange teacups on amazon. If someone buys a teacup from my store, then it means that they have gone through the product’s pictures, description and details before buying it. When they receive the product, they will see if the product matches the words in the description, details, and pictures shown. Then they will rate it with stars and comments under the product as per their satisfaction level with the product they purchased from me, which is a teacup in this scene. Now, this is one datum. All the data collected from the consumers is what customer satisfaction is all about.
How can customer satisfaction affect my business?
Let us be honest here. None of us would like to receive poor-quality products or damaged products. So is everyone else. The least that people expect after receiving a damaged product is to get a replacement product or a refund. But when it comes to poor quality products, consequences are more problematic.
Poor quality products push consumers to unsubscribe their minds from buying your products.
Not just losing the existing consumers, this also affects the upcoming visitors to your store. I mean, the reputation of your store will also be affected. Consumers’ minds are more trust-driven. Gaining their trust is so important. Their trust is directly proportional to the customer satisfaction data.
Allow me to explain this in detail with an example. Let us assume that you are selling footwear on Amazon or Flipkart. Someone is ordering a pair of shoes from you, but they are dissatisfied with the product after receiving it, let us say one of the two shoes is torn. If they are not getting a replacement from you, they will comment and rate bad things below your product.
Now when new customers visit your store to buy footwear, they will happen to see negative ratings from your previous customers. It will create a ‘hard to trust’ perspective on your store. If buyers refuse to trust your products, they won’t buy your products. And the existing customer might also unsubscribe their mind from purchasing from your store hereafter. You will then have to face huge losses because there are thousands of stores that could satisfy your dissatisfied customers.
In short, if you fail to please your customers, your business will collapse.
How to improve customers’ satisfaction?
To start with, we should understand the primary definition of economics. It is “demand and supply.” If there is no demand, we cannot sell anything. So, comprehending what buyers demand is the key to successful marketing. Customer satisfaction measurements can help you with this.
Customer satisfaction (CSAT) is a statistic that measures how effectively a company’s products and services meet or exceed the expectations of its customers. According to the definition, “The number of customers or a percentage of total customers whose reported experience with a company, its products, or services (ratings) surpasses defined satisfaction objectives.”
Set up a CSAT survey that allows customers to rate their experiences with your store on a 1 to 5 scale to measure customer satisfaction.
You may track overall satisfaction with your services or individual encounters, such as placing an order, contacting customer service, or enjoying a specific product feature. After your clients rate you, it’s also a good idea to include open-ended customer satisfaction survey questions. It enables them to explain their decision and provides you with specific feedback.
Set up periodic surveys, gather responses, and evaluate them all in one location using customer survey software. This will enable you to develop a long-term customer satisfaction measuring system.
Business is all about buying and selling. If you want to last as a seller, you need long-lasting buyers. Long-lasting customers would turn loyal to your store and might become unpaid ambassadors of your store. They will take your business to the next level with unintended word-of-mouth marketing.
Dissatisfied customers will have a negative impact on your store’s reputation as a whole.
Avoid dissatisfaction among customers, earn their trust, make them your loyal regular customers and earn big-time profits.
Nautone can do that for you. Contact us to know more.