Is your agency doing everything to satisfy your clientele? Does your customer service practice accurately reflect your efforts and your company’s values? Increasing customer satisfaction means increasing client loyalty, trust, and ultimately your agency's revenue. Taking the time to measure this can help determine the trajectory of your business. If you aren’t already, you should be measuring customer satisfaction with these three key metrics.
Four Metrics for Measuring Customer Satisfaction
One: Referrals and Social Proof
Are you retaining customers? Are your clients telling their friends and family about the excellent service your agency provides?
It’s true that there are many reasons that your business should seek referrals (including an increase in revenue), but there’s another reason that referrals matter: when someone refers a friend or family member to you, it means that they are satisfied with the work you have done and they trust you to do the same for someone that they care about.
Likewise, reviews on Yelp and Facebook are valuable currency for measuring customer satisfaction. These recommendations demonstrate your clients’ commitment to your agency. If you are seeing bad reviews of your agency online or notice a lack of referrals, it may be a strong indicator that your clients are unsatisfied.
Two: Cost of Customer Acquisition
If you’re interested in more detailed metrics for measuring your agency’s efficacy and overall customer satisfaction--especially in relationship to your marketing and lead-generation efforts--then you should be looking at the cost of customer acquisition.
To calculate this, divide the cost of your marketing expenses by the number of customers gained in a particular period. This will give you an indication of how much you are spending per new client. This KPI is useful for getting at least a general, mathematical sense of your clients’ loyalty and happiness.
Three: Customer Satisfaction Score
An additional way to measure your clients' satisfaction is to use the Customer Satisfaction Score (CSAT). This rating system asks your clients to rate their satisfaction themselves using a numeric scale. Collect these rating at regular intervals in order to get a sense of how client experience is changing and evolving over time. You can compare one customer to themselves over time, or look at averages from a group of clients in order to get a clear sense of their overall satisfaction with your agency’s performance.
Four: Check In with Your Clients
The most straightforward way to measure your clients' satisfaction is by calling them up and asking them how they're doing. Going through your entire book and checking in with your clientele does two things.
One, it allows your client to feel valued and like they haven't been forgotten or lost in the shuffle.
Two, it allows you to serve them better. How? Because when you check in with your client you can ask if they've had any life changes such as marriage, children, new home, new assets, etc. These life changes might mean they need additional coverage or policies. Checking in with them means you are helping to keep them and their families as safe as possible - plus a bonus of increased business for you! See how Client Focus can help you review your entire book and ensure you're following up with current clients in order to help your business grow and improve their satisfaction with your agency.