CSAT - Customer Satisfaction
CSAT is short for Customer Satisfaction, which is a commonly-used key performance indicator used to track how satisfied customers are with your organization’s products and/or services.
Measuring CSAT
CSAT is measured by one or more variations of this question that usually appears at the end of a customer feedback survey: “How would you rate your overall satisfaction with the [goods/service] you received?” Respondents use the following 1 to 5 scale:
1. Very unsatisfied
2. Unsatisfied
3. Neutral
4. Satisfied
5. Very satisfied
The results can be averaged out to give a Composite Customer Satisfaction Score, although CSAT scores are more usually expressed as a percentage scale: 100% being total customer satisfaction, 0% total customer dissatisfaction.
Calculating CSAT
CSAT is calculated by taking only the responses of 4 (satisfied) and 5 (very satisfied) responses from the results of a CSAT, combining these and then dividing by the total number of survey responses. The result is the % of satisfied customers arising from the CSAT.
The MavenTM CSAT Methodology is the gold standard in understanding your customers needs and pinpointing what it is about your products and/or services that needs to change in order improve and sustain customer satisfaction.
For your winner’s guide to using CSAT to track customer satisfaction with your products and/or services with the MavenTM CSAT Methodology contact us today .
Why measure customer satisfaction?
Customer Satisfaction now more than ever, is a standard to measure whether your company is successful or not. Engaging with your customers demonstrates to them that you value their opinions and goes a long way to building customer loyalty. When your customers aren’t satisfied, you risk losing business to your competitors.
Utilising CSAT is great way to ensure that you are consistently delivering excellent customer service and standing out from all of your competitors.
Maven TM achieves this by;
Creating the CSAT Telemarketing surveys specific to your requirements.
Asking the CSAT question in multiple languages via our multicultural team.
Collecting CSAT data from a variety of touchpoints.
Identifying the key drivers in your customers satisfaction.
Pinpointing your unhappy customers and the reason for their discontent such as what went wrong in their experience so that you can act on this information to make positive changes.
Collecting actionable customer feedback that you can then utilise to drive improvements to your overall customer experience.
Engaging a more personalised approach to interact and communicate with your clients on a regular basis, removing the barriers between businesses and customers and making sure that your customers get the experience they expect.
Furnishing you with the information you need to follow up with and fix a problem for your customer and at the same time understand why the problem arose in the first place, which in turn enables you to address this problem before it becomes a reoccurring problem either with this customer or with other customers.
Reducing customer churn and thus increasing your revenues.
CSAT Telemarketing Surveys by Maven TM is the gold standard in CSAT.
The difference is between CSAT and NPS
CSAT measures customer satisfaction with a product or service, whereas NPS measures customer loyalty to the organization.
CSAT targets a reaction to a specific interaction, product, or event and may use multiple questions to focus on specific parts of the customer experience, e.g., “How would you rate your overall satisfaction with the telephone service you received/helpfulness of assistant/delivery?’”
NPS focuses on a single question to measure a customer’s loyalty, “How likely is it that you would recommend [Organization X/Product Y/Service Z] to a friend or colleague?”
NPS is therefore a much broader measure of your customer’s loyalty to your company whereas CSAT is much more specific measure of your customer’s satisfaction with regard to your products/services or an interaction a customer had with your company.
Wondering whether you should choose CSAT or NPS? contact us here.
