It’s no surprise that the customer’s happiness and satisfaction should be a company’s main concern. The customer is the one helping it grow, thus making sure he/she feels valued and received the best items and service is the case all the time. If the experience is, however, a bad one, that could tarnish the image of the whole company, throwing it into a pitfall.
If you want to find out how pleased your customers are, you can find out through the average customer satisfaction score. Below, you will be able to learn more about this score as well as how to calculate it and maintain your customers’ satisfaction.
What is the Average Customer Satisfaction Score?
The average customer satisfaction score is a measurement that lets you estimate how pleased people are with your services or product. The formula was derived from a global survey that checked at the level of customer satisfaction based on geography, industry and company size. Basically, companies care very much about keeping their already existing audience, as well as how they are performing against other companies.
So, the customer satisfaction score is an indicator of whether what a company does is good or not when it comes to pleasing its clients.
How Do You Calculate It?
Calculating the average customer satisfaction rate may be difficult at first, but once you know the basics, it will go smoothly. At the end of a customer feedback survey, there’s some question being asked, in a form like “How would you rate your overall satisfaction with the service you received?”. Respondents usually rate their satisfaction on a scale of 1 to 5, where the satisfaction grows with the number.
Afterward, the results are averaged for a composite customer satisfaction score.
However, it is more common for CSAT scores to be expressed on a scale of 0 to 100%, where the score of 100 represents the total customer satisfaction.
To calculate it, you have to plug the number of pleased customers into the formula below. You need to remember, though, that only respondents that have rated with 4 or 5 should be included.
Number of satisfied customers / Number of satisfaction survey responses x 100 = % of satisfied customers
This way to calculate is also called the “top-2-box” measure because it only uses the two highest possible response ratings. However, according to studies, the two highest values on the customer feedback surveys are the most accurate when it comes to predicting customer retention.
Why Is It Important?
Customers need to be pleased at all times if you want to reap the benefits your business so much desires. This score will show you whether your customers are satisfied or not, thus knowing if you’re on the good track or you need to make certain changes. Overall, it’s something that helps your company become the best version of itself.
You may have heard how the customer is always right, but that doesn’t mean he/she is always pleased. You need to make sure customers are satisfied if you want to be successful with your firm, thus calculating this score is the prime step to achieving your goal.