/ Using BI tools to understand NPS and CSAT scores

Using BI tools to understand NPS and CSAT scores

Businesses and brands are becoming increasingly more customer-centric, focusing on improving the customer experience. The most important tool for these companies is a Customer Satisfaction Report (CSR). A CSR can be used to measure how satisfied customers are with their interactions with your business or product.

When companies understand what dissatisfies their customers, they can take corrective actions to improve the customer experience. This will lead to an increase in customer loyalty, and likely an increase in revenue.

Having a successful customer satisfaction program starts with understanding how to measure customer satisfaction. The most popular metrics are Net Promoter Score (NPS) and Customer Satisfaction Score (CSAT).

By combining those data points with BI tools, you can gain a deeper understanding of what is driving customer satisfaction and dissatisfaction. This information can be used to create targeted action plans to improve specific areas where your customers are not satisfied.

So how do you go about creating a CSR using BI tools? In this article, we will cover the following:

  • What is a customer satisfaction report?
  • What are NPS and CSAT scores?
  • How can BI tools be used to help create a CSR?
  • Tips for building a customer satisfaction report.

Let’s dive in and see how BI tools can help you create a customer satisfaction report that will improve your business.

 

Why customer satisfaction matters

In today’s market, competition has never been greater. This is especially true for businesses that rely on customers to generate revenue. To stay ahead of the competition, it is essential to focus on improving the customer experience.

Customer satisfaction is a key metric that can be used to measure how well you are doing in meeting the needs and expectations of your customers. In fact, according to Forrester Research, “a 5% increase in customer retention can lead to a 25%-95% increase in profits.”

Customer satisfaction is not only important for businesses, it is also important for brands. In fact, a recent study by the Journal of Marketing found that “brand equity increases as customer satisfaction rises.”

 

So what is a customer satisfaction report?

A customer satisfaction report is a document or presentation that shows how satisfied customers are with their interactions with your company or product. This report can be used to measure different aspects of the customer experience, such as overall satisfaction, likelihood to recommend, and likelihood to return.

The most popular metric for measuring customer satisfaction is the Net Promoter Score (NPS). The NPS is a score from 0 to 100 that is used to measure how likely customers are to recommend your product or service to others.

The Customer Satisfaction Score (CSAT) is another popular metric for measuring customer satisfaction. The CSAT is a score from 1 to 5 that measures how satisfied customers are with their interactions with your company or product.

These data points can be used to create a customer satisfaction report.

 
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The benefits of a customer satisfaction report

A customer satisfaction report can be used to measure different aspects of the customer experience, such as overall satisfaction, likelihood to recommend, and likelihood to return.

The goal of a customer satisfaction report is to help businesses understand what is driving customer satisfaction and dissatisfaction. This information can be used to create targeted action plans to improve specific areas where your customers are not satisfied.

Some of the benefits of using a customer satisfaction report include:

  • Improved customer loyalty
  • Increased revenue
  • Better understanding of what drives customer satisfaction and dissatisfaction
  • Ability to create targeted action plans to improve specific areas where customers are not satisfied

 

How BI tools can be used to create a CSR

Now that we have covered what is a customer satisfaction report and the benefits of using one, let’s take a look at how BI tools can be used to create one.

1. Understand the key parts of a customer satisfaction report

When creating a customer satisfaction report, it is important to understand the key parts that are included in most reports. These key parts usually include:

A summary of the data

This section will include a summary of the data that was collected, such as the overall satisfaction score, the NPS score, and the CSAT score.

Analysis of the data

This section will provide an in-depth analysis of the data, including why customers are satisfied or dissatisfied with their interactions with your company or product.

Recommendations

This section will include recommendations on how to improve the customer experience based on the data that was collected.

2. Determine your goals

Before you can start creating your customer satisfaction report, you first need to determine your goals. What do you want to achieve with this report?

Some of the goals that businesses typically have for their customer satisfaction reports include:

Improve customer loyalty

You can use the data from your customer satisfaction report to identify what is driving customer loyalty and dissatisfaction. This information can then be used to create targeted action plans to improve customer loyalty.

Increase revenue

You can use the data from your customer satisfaction report to identify where customers are spending their money and where they are not. This information can then be used to create targeted action plans to increase revenue.

Better understand what drives customer satisfaction

The data from your customer satisfaction report can be used to better understand what is driving customer satisfaction and dissatisfaction. This information can then be used to create targeted action plans to improve customer satisfaction.

 
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3. Choose the right BI tool

Now that you know what your goals are, it is time to choose the right BI tool to help you create your customer satisfaction report.

There are many different BI tools available on the market, so it is important to choose one that fits your needs.

When choosing a BI tool, consider the following factors:

The type of data you want to include in your report

Not all BI tools can handle all types of data. Make sure the BI tool you choose can handle the type of data you want to include in your report.

The features you need

Make sure the BI tool you choose has the features you need to create your customer satisfaction report.

4. Collect the data

Once you have chosen the right BI tool, it is time to start collecting the data. This data can come from a variety of sources, such as surveys, customer feedback forms, and social media.

5. Create your report

Once you have collected the data, it is time to start creating your customer satisfaction report. This report can be in a variety of formats, such as a PDF, Excel spreadsheet, or Word document.

6. Share the report with stakeholders

Once you have created your customer satisfaction report, it is important to share it with the stakeholders who need it. This includes the management team, sales team, customer service team, and marketing team.

The data from your customer satisfaction report can be used to improve customer loyalty, increase revenue, and better understand what drives customer satisfaction and dissatisfaction. By using BI tools to create a customer satisfaction report, businesses can gain a deeper understanding of their customers and how to improve the customer experience.

 

Tips for building an effective customer satisfaction report

Make sure the data is easy to understand

The data in your customer satisfaction report should be easy to understand. This means it should be organized in a way that is easy to read and interpret.

Include graphs and charts

Graphs and charts can help visualize the data in your customer satisfaction report. This can make it easier to understand and interpret the data.

Include actionable items

The data in your customer satisfaction report should be used to create actionable items. This means you should have a plan of action for what you are going to do with the data.

Share the report with stakeholders

The data in your customer satisfaction report should be shared with the stakeholders who need it. This includes the management team, sales team, customer service team, and marketing team. By sharing the data with these stakeholders, you can help improve customer loyalty, increase revenue, and better understand what drives customer satisfaction and dissatisfaction.

With these tips, you can create and utilize an effective customer satisfaction report for your business.

 

Conclusion

Customer satisfaction reporting is essential for businesses in today’s customer-centric economy. By using BI tools to create a customer satisfaction report, businesses can gain a deeper understanding of their customers and how to improve the customer experience.

In addition, by sharing the data with stakeholders, businesses can help improve customer loyalty, increase revenue, and better understand what drives customer satisfaction and dissatisfaction. With these benefits, it is clear that customer satisfaction reporting is a valuable tool for businesses.

Start building your customer satisfaction report today with BI tools—and see how your business improves with enhanced customer insights.

Check out some related resources:

How a leading fashion retailer is using data to drive growth

Closing the Data Decision Gap

Why BI Programs Fail to Scale: The Data Decision Gap

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