BizFerret

Why Invest?

Why invest in customer happiness research?

Who doesn’t want happy customers? They come back. They’re more loyal. They spend more. They tell their friends to try you. Americans are 81% more likely to return to a store that provides great customer service.

  • It’s a leading indicator of consumer repurchase intentions and loyalty
  • It’s a point of differentiation
  • It reduces customer churn
  • It increases customer lifetime value
  • It reduces negative word of mouth
  • It’s cheaper to retain customers than acquire new ones.

Maintaining customer loyalty is one of the most important, yet most difficult, aspects of any business. The numbers are staggering: a 5% increase in customer retention can increase profits by 125%.

But before you can maintain customer loyalty, you first have to understand how to create it.   So, where do you start when it comes to building a loyal customer base? A satisfied customer is easier to turn into a loyal one.

Do you know what’s happening—really happening to your customers? Rolling out a customer happiness survey is the best way to get objective information about what your customers really think. Your customers may shed light on some hard truths about your business, but if you take the survey results to heart and make changes, you’ll be on your way to creating more loyal customers.

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Here are the top reasons you should do Customer Happiness tracking research with BizFerret

  1. Not knowing what you don’t know is dangerous. Ignorance is not bliss.
  2. Tracking social media is not a valid research methodology. At its best, Yelp! provides you with the fanatics’ and the haters’ view of the world. That is not the whole picture.
  3. A snapshot in time can be very deceiving… both positively and negatively.
  4. BizFerret can analyze the results for you. You don’t have to go it alone.
  5. BizFerret can provide recommendations based on the above analysis. After all, it’s what you do with the information that will ultimately determine your success.
  6. Customer happiness tracking is a great way to improve customer service and reward employees for maintaining and/or exceeding the owner’s standards.