Top 5 Factors That Shape Customer Satisfaction

Top 5 Factors That Shape Customer Satisfaction

You got your order on time but there is an issue with the order. You contact the customer support team and they not only understand your problem but provide you with a quick resolution.

Won’t you be happy and satisfied? Definitely right?

You will even recommend the brand to your friends and family and tell them about the company and how keeping its customers satisfied is their top priority. Customer satisfaction is defined as how happy the customer is with the product or services of a company.

As research conducted by Forrester suggests, “71% of connected consumers felt negatively toward brands when they encountered inconsistent experiences; and 10% said those inconsistencies would make them stop interacting with a brand altogether.”

Source: https://www.forrester.com/Nearly+70+Of+Consumers+Complain+Online+About+Poor+Customer+Service/-/E-PRE8844

Product purchasing and services from company

Importance of customer satisfaction

Source: https://www.marketingsherpa.com/article/chart/loyalty-effect-customer-satisfaction 

What are the top 5 factors influencing customer satisfaction?

Every business is trying to figure out a way to perfectly satisfy their customers in every possible way.

Every day we’re saying, ‘How can we keep the customer happy? How can we get ahead in innovation by doing this?’… because if we don’t, somebody else will.”

~ Bill Gates, Microsoft

We believe the following 5 factors are responsible for shaping Customer Satisfaction.

1. Employees hold the key to customer satisfaction

“Whether you are big or small, you cannot give good customer service if your employees don’t feel good about coming to work.” – Martin Oliver, Managing Director Kwik-Fit Financial Service

Customers form an opinion or perspective about a brand after interacting with the employees of the brand.

  • Train your employees

Whenever your customer reaches your customer support team with a query or complaint, they expect a quick resolution. When your employees have complete knowledge about the product or service, they are able to resolve the issues quickly.

Kapture gives you a Learning Management System(LMS) for your employees which helps them stay updated about your product or service. It helps you conduct tests and quizzes, assesses training modules, and upload courses that can educate and keep them updated about the product.

  • Empower your employees with better tools

A combination of the right tools and knowledge can help you get the desired customer satisfaction score. Just answering the questions isn’t enough, your employees need the tool which allows them to resolve the complaint by performing a particular task.

Kapture CRM empowers your employees with the right tools which have the power to generate all customer information and take actions to resolve it directly through the system in one go.

2. Understand your customer

Customers can help you achieve all your goals and help your business grow only if you know how to keep them happy and satisfied. Understanding the needs and desires of your customers is one of the factors which influences customer satisfaction.

  • Ample number of choices

When you go to a market to buy something don’t you look for a variety of choices for the product and most probably buy from a place with the most number of choices. When the customer is empowered with a number of choices, it gives them a sense of satisfaction that they are not missing on anything.

Customers love to have multiple channels of communication with the brands. Customers reach brands through different channels like calls, emails, and social media. Omnichannel support feature from CRM systems empowers the agent to get all the queries coming from different channels into a single platform and resolve them with ease.

  • Personalization

Building relationships with the customers is one of the ways to keep them happy and satisfied. Customers expect their brands to understand their needs. Personalization enhances the customer experience, boosts sales, and boosts customer satisfaction.

Everyone wants to be acknowledged as a person, as an individual with distinct characteristics, desires, needs, and experiences. When someone recalls our name, our achievements, and our decisions, we all appreciate it.

A ticket management system helps you to analyze the customer data and give a more personalized customer support experience to your customers.

3. Technology

 Modern technology can assist businesses in meeting the demands of their customers more efficiently. It enables a brand to become a good listener, to be aware of all client demands, to meet them on the appropriate platforms, and to give the best solutions on time. 

  • Easily accessible

Your products and services should be available to your customers through every channel.

Even after a purchase is made, the customers should be easily able to reach your brand with ease on every available platform. This helps in building a sense of trust and loyalty among the customers and keeps them happy and satisfied.

  • Self-help is the best help

We all can agree on the fact that the customers of this generation are very impatient and expect their problems to be solved quickly.

AI and ML (Artificial Intelligence and Machine Learning) powered bots are some of the ways by which customers can help themselves with the petty queries they have on their minds.

Implementing these bots in your business saves time for both customers and agents to achieve faster resolutions.

Kapture’s One Suite comes with an AI-powered bot that can be configured and modified according to your requirements. Your agents can focus on more serious and high-priority tasks and the petty issues can be resolved by the customers themselves which ensures customer satisfaction.

Worldwide revenues from Artificial Intelligence

Increase in revenues from AI for enterprise applications market worldwide

Source: https://www.forbes.com/sites/louiscolumbus/2018/01/12/10-charts-that-will-change-your-perspective-on-artificial-intelligences-growth/

4. Rewards and recognition

Customer loyalty programs are incentives used by businesses to entice customers to return to their store or online. Instead of courting new consumers, you may build customer loyalty programs to reward your existing ones. However, if new consumers learn about your program, they may be interested in checking out your company as well.

A loyalty program can assist you in making your present consumers feel good about supporting your business. 

You show them you value their business by rewarding them for their purchases. Customers may feel more encouraged to continue supporting your company if they believe they are saving money as a result of rewards. This keeps the customer happy and satisfied with the brand and also builds loyalty among the customers for the brand.

Effectiveness of customer loyalty programs

Source: https://customercentricllc.com/wheel-of-progress-loyalty-program

5. Simplicity

No one likes to use things that are complicated and hard to use so it is always preferred to keep everything simple for your customers.

Convenience is an important factor in creating a great experience. Consumers are influenced by where they go, what they buy, and who they interact with whether they have prompt service and are easy to use. Companies should ensure that the channels through which customers reach the brands are simple and easy to use.

This gives them a sense of satisfaction that the brand has always got their back and can be approached easily by both customers and agents. It can be hard for them if they have to work on a complicated and not-so user-friendly system.

Kapture promises to give your agent a simple and easy-to-use interface to improve your agent’s productivity and efficiency and keep the customers happy and satisfied.

What is the importance of customer satisfaction?

Let us view some facts related to customer satisfaction.

  • 81% of marketers view customer satisfaction as the main competition area in their industry- Gartner.com

https://www.gartner.com/en/marketing/insights/articles/key-findings-from-the-gartner-customer-experience-survey 

  • According to PwC,59% of customers will leave a company after several bad experiences, and 17% after one bad customer experience. Yes, this also concerns your previously loyal customers. 

https://www.pwc.com/future-of-cx

  • According to a survey by Microsoft, 61% of their respondents have switched brands due to poor customer service, and the trend continues.

https://info.microsoft.com/rs/157-GQE-382/images/EN-US-CNTNT-ebook-2018-State-of-Global-Customer-Service.pdf 

These facts show us how important customer satisfaction is for the growth and success of a company. There are several ways in which achieving customer satisfaction helps your company, they are-

  • Increased brand loyalty

The customers tend to stay loyal to the brands that understand their needs and requirements and keep them happy and satisfied. Happy and satisfied customers will promote your brand for free by recommending it to their friends and family.

Negative feedback has a really bad effect on your brand image and it also affects the loyalty of the existing customers. Over 70% of consumers are more likely to recommend a brand if it has a good loyalty program.

https://www.smallbizgenius.net/by-the-numbers/customer-loyalty-statistics/#gref  

A very satisfied customer graph

A very satisfied customer is more likely to stay with the brand for a longer period.

https://www.slideteam.net/customer-satisfaction-survey-feedback-powerpoint-presentation-slides.html 

  • Your emergency helpers

The pandemic was a really rough time for every industry but every industry revived as soon as things started to get normal or even before that because of their loyal customers. They supported the brand during the time of crisis and helped them survive through it.

The trust of customers in brands keeps them going through any crisis as they love their brand and want to see them grow and prosper.

According to research by Hubspot, 81% of customers trust recommendations from family and friends over those from companies.

https://blog.hubspot.com/news-trends/customer-acquisition-study 

A recommendation from your loyal customers to their friends and family can help the brand during tough times.

  • Saves a lot of your money and resources

Customers who are pleased with your products and services are your most zealous supporters. Their favorable word-of-mouth gives your business legitimacy, appeal, and aids in the acquisition of new clients. This saves companies a significant amount of money that they would otherwise spend on marketing and promotional activities to recruit new consumers.

Businesses spend on average 21% of marketing budgets on advertising, with two-thirds of that advertising money now spent online- Gartner

https://www.gartner.com/en/marketing/insights/articles/8-top-findings-in-gartner-cmo-spend-survey-2018-19

 Focus on what you’ve got:

Acquiring new customers might seem like the primary aim in order to construct a client base. But, the linchpin is not the number of customers, it is the quality. As published in a blog by Invesp, “Repeat buyers spend 33% more than new ones, and just 20% of existing customers account for 80% of a company’s future profits.” Hence, repetition in the case of customers is a good thing for your organization. Even spending on loyalty programs helps in retaining devoted customers.

Keeping customers happy and satisfied is not rocket science. The paramount thing to remember is keeping the quality intact; whether it is your product or your service; and what follows is a better relationship.

Customer Experience Hacks for Big Brands

 

Knowledge is power. Knowledge about your customers is a superpower. If you learn how to practice foresight and provide consumers with what they want, you will always stay a step ahead in the game. One of the customer satisfaction factors is a go-to database to your agents which inculcates them in areas they are unsure about; a guided setup that gives them further insight into the customer’s mind. Automated response systems, like Kapture’s, will help you shave precious seconds off of response times. The customers will be extra happy with the speedy response and resolution to their queries. At the end of the day, CRM for customer satisfaction is the solution and you know it.

Keep your customers happy with Kapture

Every company wants to provide its customers with a top-class customer service experience so that the customers are satisfied. 

Kapture’s One Suite is designed to increase efficiency, competency and productivity for your support team, which will lead to faster resolutions. With our system, your agents can monitor and resolve multiple tickets from multiple channels regardless of volume, on a single platform. 

To handle multiple complaints at the same time, categorize tickets, set priority and provide contextual resolutions and see your customers smile, give the right tool to your agents.

And schedule a demo today!

3 thoughts on “Top 5 Factors That Shape Customer Satisfaction”
  1. An organisation’s employees represent its customers’ first impression; the ultimate point of contact. Measuring engagement, customer retention, satisfactions and other key metric is important to achieving a loyal customer base. However, in their efforts to acquire new customers, companies shouldn’t ignore existing ones as they generate most of their profits and a plan to differentiate them is important to ensure they are handled appropriately.

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