Month: November 2014

Four Customer Satisfaction KPIs to Consider

Here at xAmplifier, we want to help you best serve your customers’ needs in order to effectively expand your business. Satisfied customers are essential to your company’s growth and sustainability.

That’s why this week, we’ll offer you the most important key performance indicators (KPIs) to look out for when you survey your customers. Understanding these metrics will allow you to figure out what makes your customers tick in order to better cater to their needs.

Satisfaction Levels

Customer-bound surveys tend to have an overall satisfaction question, collected on a 5, 7, or 10 point scale, ranging from extremely satisfied to extremely dissatisfied. A great barometer of your business’ performance is the percentage of customers who rate their experience as “extremely” or “very satisfied.” Determine the cause of these customers’ satisfaction in order to cater to the needs of your overall customer base.

You should also focus on ensuring that your customer satisfaction KPI is constantly on the rise. For example, you can repeat the same customer satisfaction survey to measure the new results against the old. You can then set goals and target problem areas in order to improve your customer satisfaction rating.

Net Promoter Score (NPS)

NPS is a dedicated customer satisfaction index that measures the number of customers who like your company brand enough to recommend it to others. The index divides customers into three categories: promoters or customers likely to recommend your brand, passives or customers on the fence, and detractors, those customers least likely to recommend your company.

If more customers recommend your brand than not, your NPS is positive. If equal numbers recommend and do not recommend, then your NPS is neutral and you need to work to push your score into the positive. If more customers fail to recommend than recommend, you need to find out why your score is in the negative.

Referrals are essential to the success of your business, as they are your best form of advertising especially if they’re free. Create an NPS survey, asking customers whether they would recommend your company to a friend, to determine where you rank.

External vs. Internal Benchmarking

External benchmarking involves comparing a number of metrics within your company to a competitor of a similar size, market, or product, while internal benchmarking compares various divisions within your company to one another to identify one division’s businesses practices that you can extend throughout the company. Both are powerful measures, but each are used to push your business to improve in different ways.

Internal benchmarking is a great way to establish standards across a larger operation and discover both your super stars as well as any weak links. By using the same survey, question, or poll, you have an objective measure to create a baseline across different locations, departments, or even employees. From there you can find your average performance scores then evaluate each segment above or below that line. Reward star performers and investigate their practices to find the key factors driving their success. Then try to teach or apply the same strategies to segments that may be struggling to raise your overall satisfaction levels. Just make sure these comparisons are discrete and constructive to avoid building unhealthy competition or resentment, especially among groups that are interdependent.

Each industry has its own unique customer base and set of challenges, so it’s often difficult to figure out where your business’ performance lands in the grander scheme of things. External benchmarks allow you to easily compare your operations to similar entities by industry, customer base, product type, price range, region, or just about any other relevant criteria. This is when broadly accepted measures like NPS and satisfaction percentages come in handy, as they provide simple measures that translate well across different companies. You can purchase industry data sets from xAmplifier or the NPS creators, Satmetrix, to get the scoop on your competitors, then set goals to meet or surpass their performance.

Brand Attributes

It’s important that you and your customers are on the same page when it comes to brand expectations. You can bridge the gap between your expectations and your customers’ by holding focus group discussions then sending a brand attributes survey questionnaire to better understand how your customers view your company.

During these focus group discussions, you should generate a list of parameters to include in the survey questionnaire. These parameters are attributes your brand needs to focus on to improve customer satisfaction performance and could include anything from responsiveness to accessibility to complaint or question handling.

You can then use the survey data to meet their expectations or change their brand image. As brand attribute perceptions align, your customer satisfaction will likely improve overall.

At xAmplifier, our goal is to provide you with unique and applicable content to solve your business’ problems. You can contact us at sales@xamplifier.com or call 866.363.6434 to see what xAmplifier can do for you!

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Five Predicted Digital Marketing Trends of 2015

Here at xAmplifier, we want to keep you on top of the most current digital marketing trends, so that you can better connect with your online audience, generate buzz around your services, and in turn expand your business. In such a fast-paced market space it’s important to stay ahead of the curve, that’s why we’re giving you an exclusive peek at our top five digital marketing predictions for 2015:

Content marketing will become even more important

The best way to gain the trust of your customers is by consistently delivering valuable content through as many channels as possible. You can easily develop a loyal following with your target demographic by providing entertaining insights about relevant industry trends and information to your audience in the form of social media posts, eNewsletters, case studies, videos, and articles on your website as well as others.

Social media marketing will require more diversity

New social media sites pop up all the time, providing businesses with a myriad of options to produce engaging content and expand their audiences across multiple channels. The number of new sites and apps also allows businesses to experiment with multiple social media networks in an attempt to reach the maximum number of customers. Diversifying your social media image helps consumers recognize your brand and in turn builds brand equity.

Mobile-friendly content will be a must

As more and more customers use smartphones and tablets as their primary Internet devices, businesses must adapt and create content that’s accessible to mobile users.Forbes recently predicted that “87 percent of connected devices sales by 2017 will be tablets and smartphones.” Therefore, it’s now more important than ever to promote a positive experience for mobile users by using responsive web design or creating a mobile version of your websites.

Ad retargeting will become more effective

A recent marketing strategy, ad retargeting works by using browser cookies to track the websites that your customers visit and show those websites’ products or services to them again in advertisements on different websites. While only 2 percent of web traffic converts on the first visit to the website, ad retargeting increases the overall conversion rate by reminding potential customers of the product or service they viewed. Many marketers have had success with ad retargeting and it’s likely to become even more sophisticated and effective in 2015.

SEO and social signals will go hand in hand

Social signals already play a large role in organic search rankings. Google and other search engines mainly aim to provide users with the most relevant content, so they tend to factor in the number of social shares that each article or product page receives. Therefore, the more people that share a piece of content, the higher its position will be within search engine results pages. The link between SEO and social signals will only become more prominent in 2015 as the number of social media sites increases.

xAmplifier offers its clients help with their overall digital marketing strategies by optimizing SEO, engaging leads with dynamic touchpoints and landing pages, generating online reviews and social media likes from happy customers, and much more. If you’re interesting in learning what xAmplifier can do to enhance your business’ digital reputation, contact us at sales@xamplifier.com or call 866.363.6434!