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There are so many different ways to measure customer satisfaction — figuring out which one to send to your customers can become a nightmare.
Well, it’s always a good idea to go with something that is easy to implement and does not require much effort from respondents.
And that is why we’ve introduced Customer satisfaction(CSAT) surveys in Hiver.
It is the most straightforward way of measuring customer satisfaction with a business purchase or an interaction.
All you have to do is ask a simple CSAT question – something like: How satisfied were you with your experience?
And the response can be one of the three emojis: happy, neutral, or sad.
You can now insert a quick CSAT survey at the end of your Shared Inbox emails.
Table of Contents
- What is CSAT?
- How customer satisfaction impacts the bottom line
- What are the best times to send a CSAT survey?
- The benefits of Hiver’s CSAT surveys
- Wrapping up
What is CSAT?
CSAT stands for customer satisfaction and is a score that indicates how satisfied a customer is with a product, service, transaction, or interaction with a company. The term CSAT is often used to indicate a customer satisfaction score, which is a numerical value given to customer satisfaction levels.
There’s a pretty simple formula to calculate the CSAT score:
CSAT score = [Number of satisfied customer ratings – Number of Not Satisfied ratings] %
According to Hiver’s latest benchmark survey, the CSAT score is the most critical metric for 41% of customer support teams.
Perhaps one of the reasons why the CSAT survey is so popular is because it’s the simplest type of customer satisfaction survey.
Since it’s such a quick survey, you can go ahead and use it across multiple interactions during the customer lifecycle and understand their level of satisfaction at various touchpoints.
How customer satisfaction impacts the bottom line
1. Product development
Data from customer surveys is far more accurate than any kind of market research you conduct.
After all, your customers are the ones using your product, You can ask a short question right after you have launched a new feature in your product/service. Feedback surveys help you identify customer expectations, pain points, and lapses quickly.
2. Maximize Customer Lifetime Value (CLV)
Each new customer is worth more throughout their relationship with your company if you prioritize consumer loyalty. In addition, your revenue directly correlates with how long customers stay with your business and how frequently they make repurchases. Therefore, winning them over with exceptional experiences at all points of their journey becomes increasingly important.
3. Customer loyalty
The more you engage with your customers, the more loyal they become. Several studies suggest that loyal customers are likely to spend more with your brand. Improved loyalty also leads to better customer retention, lower customer churn, and increased word-of-mouth referrals.
3. Minimize customer churn
High customer attrition levels are costly and can tremendously damage revenues and growth. Also economically speaking, retaining existing customers is much cheaper than acquiring new ones. So, by reducing the potential problems that could cause current customers to leave your business, a company can work towards lowering those churn rates.
By increasing CLV and decreasing churn, your company is on its way to increasing revenue. Additionally, if your CLV is higher, you can invest more in customer acquisition, resulting in more revenue and higher earnings.
Research by Bain and Company shows that increasing customer retention rates by just 5% can increase profits by 25% to 95%.
Simply put, satisfied customers tend to add more lifetime value since they are more likely to repurchase. Tracking CSAT scores can, therefore, help a business:
- Implement a plan to build a positive brand image
- Attract new customers at a lower acquisition cost
- Retain existing customers, and earn long-term loyalty
- Increase Customer Lifetime Value
- Reduce Customer Attrition Rate
What are the best times to send a CSAT survey?
Here are some of the times you should send out a CSAT survey for the best response rates:
1. After critical lifecycle moments
CSAT surveys can be tied to every customer interaction or transaction. The whole idea is to know your customers’ opinions. Take customer onboarding, for example. After successfully completing this process, a quick CSAT survey will help you understand how the customer felt at the end of it.
A simple question like, “On a scale of 1 to 10, how satisfied are you with your experience on our site today?” will absolutely do the trick. It literally takes the customer one click to answer your question, but it gives you a world of insight into their mindset.
2. Support or service interactions
In order to constantly improve support and service experience, gathering feedback right after such an interaction would benefit the CX teams to identify what’s working, what’s not, and how to push the envelope.
This type of survey can either be a rating scale or could also be open-ended and descriptive. For example, “Have you ever had a negative experience with us, and if so, can you describe what happened?”
A satisfied customer would simply choose to rate their experience on the scale. However, an unsatisfied customer would probably appreciate being asked in detail what went wrong. But in this case, support teams should be prepared to quickly address and pacify unhappy customers, especially after a descriptive negative response. Another benefit of an open-ended survey question for unhappy customers is that it lets them vent out on your platform rather than complain about it on public forums and social media
3. Prior to renewal
Think about companies with subscription models. They tend to thrive on retention rates and can get adversely affected by high churn rates. In such cases, it is important to understand how easily your customers are engaging with your product and the value they are getting out of it.
Taking feedback a few months before renewal gives you enough time to act on it. You’d want everything to be running just as users expect before they renew.
You can gauge these aspects by sending out a CSAT survey with questions such as “On a scale of 1-10 how satisfied are you with your membership?” or “How often do you use our product or service?” or “Has our product been able to solve your biggest challenges at work?”
4. After educative interactions
It makes sense to take feedback after you have explained a new feature to a customer or after they have finished reading a knowledge base article.
The benefits of Hiver’s CSAT surveys
Here are some of the biggest benefits of CSAT surveys in Hiver:
1. Collect customer feedback with incredible ease
Customers are most likely to give accurate feedback and satisfaction ratings when it is collected proactively and immediately. This is why Hiver now lets you insert customer surveys at the end of every email that you send with a single click.
Hiver allows you to add a CSAT survey at the end of every support interaction so you can clearly identify who your happy and unhappy customers are.
What’s more? As an admin, you have control over how to use and collect data from customer surveys. You can enable them by default for every email interaction, or you can give your teammates the option to enable and disable them at their discretion.
To make these surveys even more valuable, Hiver also lets you customize the type of questions in the survey so that you can collect data that is more pertinent to your business needs.
2. Draw useful insights from the survey data in real-time
With customer surveys in Hiver, not only do you get the ability to collect the survey responses in real-time, but you also get the ability to measure the feedback and draw insights from it — all in real-time.
Hiver’s CSAT reports allow you to measure CSAT scores – one of the most critical customer satisfaction metrics that give you insights into different aspects of the customer experience across various stages of the customer journey.
With CSAT Reports in Hiver, you can visualize the survey results, understand customer needs, track and compare individual team members’ performance to see what is working well, what isn’t and train your team accordingly.
3. Give customers the opportunity to share open-ended feedback
Hiver also lets you customize your feedback forms in a way that you can include open-ended questions. This allows customers to share their experience and feedback with you in their own words. Customers might share details about your product or service quality that they wouldn’t have been able to share otherwise. It gives you a more holistic understanding of their overall satisfaction levels.
4. Take control over when to include surveys in emails
Hiver allows you to take full control of which emails should contain surveys and which ones shouldn’t.
You can choose to include surveys in all emails or only specific ones. As an admin, you can also decide who in the team is allowed to include surveys in the customer emails.
Customer Surveys can make collecting and measuring customer feedback easy – and when you implement a helpdesk solution like Hiver, the whole exercise also becomes extremely rewarding for your business.
Hiver – the world’s first customer service software for Google Workspace – is designed to help you build long-term and meaningful relationships with your customers. Apart from CSAT surveys, Hiver also comes with cutting-edge helpdesk functionalities like task assignment, live chat, automation, analytics, etc. that help you streamline your team’s workflows and enhance your customer service quality.
Schedule a demo with Hiver to see how your team can deliver outstanding customer service right from Gmail.
Need more help?
To know how to set up CSAT in Hiver, head over to this article.
To know more about CSAT Reporting in Hiver, head over to this article.
Don’t use Hiver yet? You can always sign up for a 14-day Free Trial.