A customer satisfaction analysis uses data collected through a survey or questionnaire to identify behaviors that lead to happy or unhappy customers. Through a customer satisfaction analysis, companies might spot trends causing dissatisfaction and implement changes to retain current customers. Analyzing results of surveys might also reveal impacts on profit and provide a basis for improvement. Information from a customer satisfaction analysis could pinpoint individual employees or departments and rank percentages of content customers.
To make the information useful, the survey itself should be created to provide statistical data for analysis. Management might define goals of the survey and devise methods for comparing results. A detailed questionnaire could make the information more meaningful during a customer satisfaction analysis. An area for customer comments might provide additional information to identify trends in satisfaction or discontent.
Experienced business owners usually realize it costs more to recruit new customers than it does to keep existing clients. A customer satisfaction analysis might identify weaknesses in service or products that drive customers away. This information might be used to change staff behaviors causing customer distress. Examination of survey results might give managers insight into customer opinions.
Loyal customers tend to purchase more and send referrals to a company or brand. One bad experience might represent a potential loss of future business, especially if annoyed customers spread their discontent via social media sites on the Internet. A customer satisfaction analysis might pinpoint sources of negative perceptions. The data might also identify areas customers view positively.
Customer retention rates and their impact on profits might be computed in graphs to provide a visual image based on percentages. These figures might uncover trends in dissatisfaction and correlate the data to customer loyalty. Customer retention rates might also be compared to estimated rates of competitors, tracked over time.
Findings from a customer satisfaction survey might help management develop action plans to address weakness and identify people responsible for improving statistics. Frequent evaluation of the process typically keeps it on track. A follow-up survey might indicate whether efforts produced intended results.
Some companies contact each unhappy customer as part of a customer survey analysis. They might offer a discount on a product in hopes of keeping the client. Management might also inform the customer of any changes resulting from data extracted from the questionnaire. These efforts might curtail the spread of discontent to a wider audience.