July 8, 2020

Customer satisfaction, coffee and revenue generation

What makes you happy with any purchase you make? What prompts deep and meaningful customer satisfaction? Think about your local coffee shop. How do you feel when they say, ‘Hi John, we hoped you’d pop in today. Is it your usual or do you fancy trying one of our specials on the house, seeing as it’s Friday?’ How would you feel? What would you say? How loyal will you feel towards that coffee shop in future?

Customer satisfaction is a complex emotion

In a world of vast choice such an exchange can be a driver for revenue generation way beyond the investment of a free ‘special’ coffee. Have you ever really tracked analytically how the notion of customer satisfaction is linked with loyalty and revenue generation?

Do you have a Friday Special?

Is it actually possible to improve revenue generation without customer satisfaction? Let’s return to John. Sitting in the coffee shop he was relaxed with his Free Frothy Friday Frappuccino and read the papers. As he left he bought another for his PA and returned to the office. ‘Sam, thought you might want to try one of these. It’s a Friday special.’

The following week someone called the coffee shop, ‘Hey, can you knock up 15 of your Friday specials for 10 o’clock; someone will be down to collect.’

Your business should be the only choice

It’s a simple idea but in a world where choice is massive, too much choice can be overwhelming. Personalised service can change everything. In a depersonalised online world, filled with top quality marketing and swish graphics, how do customers make choices? Who’s going to call them by name or provide old fashioned customer service?

Word of Mouth

Actually, customers rely on something quite traditional: word of mouth. Granted, this doesn’t happen in the shops, or over the garden fence. Yet people still talk and they love to recommend and criticise. If you can harness these expressions you can make a measurable difference to how you improve both customer satisfaction and revenue generation.

In a complex world everyone looks for names, products and services they can trust. They want recommendations. They want companies who value both their business and their specific needs.

Why are customers lost? Do you know?

So, if you were asked to identify what is most important in relation to your customer satisfaction would you have the answer on the tip of your tongue? Does your research underpin everything you do? Do you know exactly why you might have lost customers? Have you ever segmented the types of losses you experienced?

Paying attention to the losses as well as the gains can give you rich data that will affect your future business plans. You can’t improve matters with free coffee, we imagine, but you can listen very carefully and ask the right questions.

Mercenary or disaffected?

If you are attracting customers with special offers and they leave immediately ask yourself, why are they being so mercenary? If after a few months they switch provider find out why they have become disaffected. It’s easy to track these behaviours and responding will reap rewards.

What do you mean you lost them?

Consider this, if you have managed to attract a client in an expanding universe how careless is to then go and lose them? After all, without intervention they will never be back. Who cares about customer satisfaction when there are no customers?

Tracking what your customers do and how they feel gives you real and valuable insights into genuine and highly valuable customer satisfaction. You can even ask for suggested improvements as appropriate. Your perception about the service you are providing might be one side the reality may well be another.

When you begin to gather baseline measurements of customer perceptions and their expectations, you can tailor your services accordingly. It makes sense.

Customer satisfaction is about engagement. It’s about listening then acting to improve not once but always. It’s obvious that revenue generation goes hand in hand with customer satisfaction.

As for John he won’t go anywhere else for his coffee these days and has become a real fan of trying the Friday specials. If you want to start identifying customer satisfaction, promoting customer loyalty that will impact on revenue generation through measured approaches then click here.

author.png Author: Revive Management
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Customer Satisfaction