Too many a business owners run their business as usual and find it very confusing and paradoxical when their business starts losing customers one by one. There can be many different reasons for this kind of thing to happen.
One of the most common ones is that we took too much time focusing on what we are offering and too little time on what customers were demanding and how were they satisfied with our products or services. Either the habits of customers changed through the years or there came another company offering similar products – this are only two options to the why.
The great thing is that we can find a solution to the problem if we know why – and we can know why by doing customer satisfaction survey and extracting the data from our clients to give us an insight in what is actually going on and why are we losing customers.
The smartest way of finding out what our customers thinks about us and our products or services is via online survey tools. This is the simplest, financially affordable and most objective method obtained the data we need. Let’s say that we are producing TVs – they were selling great for years, but the revenue is starting to decrease.
Knowing that customers think standard TVs are not as good as for example HD TVs gives us a valuable insight. Not only this, it also gives us the solution – people want HD TVs. Producing and, even more importantly marketing them as such will not only keep the customers we have, it will if done correctly increase our customers base.
In addition, with customer satisfaction tools we can also get the idea of how much more people are willing to pay for HD TVs – is that $100 or $200 more. Knowing this gives us a tremendous advantage when planning a pricing strategy or marketing strategy.