Financial organizations face a growing need to adapt and respond to changing customer expectations. In this context, satisfaction surveys play a crucial role in collecting valuable feedback to improve customer experience. Among the many tools available, SMS satisfaction surveys are proving to be particularly effective.
Importance of Customer Satisfaction Surveys
Customer satisfaction surveys are an essential component of customer experience management. They provide companies with a direct and unfiltered view of how their customers perceive the products and services offered. Additionally, they allow companies to identify opportunities for improvement, more effectively aligning their offerings with customer needs and expectations.
Customer satisfaction surveys can help companies build customer loyalty, drive sales and growth, and improve their reputation in the marketplace. Ultimately, customer satisfaction surveys can provide companies with the insights they need to remain competitive in an increasingly saturated market.
Why are SMS surveys effective?
The effectiveness of customer satisfaction surveys depends largely on the way they are conducted. Long, complex surveys can turn off customers and result in low response rates. Instead, short, direct surveys that can be completed quickly and easily are much more effective.
This is where SMS satisfaction surveys shine. SMS is fast, accessible and convenient. They can be sent and received on almost any mobile device, meaning customers can respond to surveys on their own time and at their convenience.
SMS satisfaction surveys also have a high open rate. According to various research, more than 90% of SMS messages are read in the first three minutes after receiving them. This means that companies can get feedback in near real-time, which can be extremely valuable for making quick, data-driven decisions.
Criteria for the Effective Implementation of Satisfaction Surveys via SMS
Implementing SMS satisfaction surveys may seem complex, but the key to a successful implementation lies in organization, the right technology, and methodical execution. Below are some key criteria in implementing SMS satisfaction surveys.
Choice and Configuration of the Delivery Platform:
- Platform Selection: Choose an SMS sending platform that is robust, has a friendly interface and allows rich content, automation and seamless integration with other crucial systems, such as your CRM, ERP, or data management system, thus creating an interconnected ecosystem.
- Setting: Configure the platform to your business needs, including customizing messages, scheduling sends, and setting up automatic responses.
Segmentation According to Criteria Corresponding to Objectives:
- Definition of Survey Objectives: The first step for segmentation is to define the objectives to be achieved with the survey. For example, it could be getting feedback on a new product, evaluating post-service satisfaction, or understanding the overall customer experience.
- Definition of Segments: Determine the customer segments to whom you will direct the surveys, based on criteria such as purchase history, recent interactions or demographics, you can create segments that provide valuable insights.
- Transactional vs Massive: Transactional surveys, sent automatically after each interaction, provide data on specific experiences, while bulk SMS messaging, sent to a large group or list of customers at a specific time, can help understand customer satisfaction at a more general level .
Choice of Survey Type:
- Type of Questions: Decide whether you will use open-ended questions, closed-ended questions, or a combination of both. Closed questions facilitate analysis, while open questions provide more detailed insights.
- Survey Design: Design a survey that is concise but captures essential information to evaluate customer satisfaction.
- We recommend you read this article about the types of questions according to the objectives.
- Gratitude: Send automated thank you messages to customers who respond to the survey.
- Consequent action after feedback: If appropriate, act on the feedback received, either by resolving the problem raised or by acknowledging if the feedback is positive. The right response can turn a neutral or negative experience into a positive one.
Data Collection and Analysis:
- Data collection: Make sure you have a robust system for collecting and storing customer responses.
- Analysis: Analyze collected data to identify trends, areas for improvement, and strengths. Use these insights to improve the customer experience and make informed decisions.
- Strategy Evaluation: Evaluate the effectiveness of your SMS survey strategy and look for opportunities to optimize the process, whether by adjusting sending frequency, modifying questions, or exploring new technologies.
Practical Case: Improving Customer Experience in the Banking Sector
To illustrate how SMS satisfaction surveys can transform the customer experience, consider the case of a large financial institution. This bank was looking for an effective way to collect customer feedback to improve its services and products.
The bank decided to implement rich SMS satisfaction surveys. After each interaction with a customer, whether in person or through a digital channel, the bank sent an SMS with a satisfaction survey. Customers could rate their experience on a scale of 1 to 5 and provide additional feedback if desired. Additional comments are analyzed with artificial intelligence to give a negative or positive sentiment rating, and based on a pre-configured criteria, cases that have a certain negative rating are sent to a customer service supervisor to evaluate whether follow-up is necessary with a human or a personalized call.
The results of this approach were impressive. The bank was able to collect a lot of valuable feedback and make improvements based on this feedback. Customer satisfaction rates increased, and the bank was able to identify and address issues that had not previously been known.
SMS satisfaction surveys are an effective tool to improve customer experience. They offer a quick and convenient means to collect feedback, allowing companies to make informed decisions and make improvements based on data. With the right approach and technology, SMS satisfaction surveys can be a valuable tool for any financial organization looking to improve customer satisfaction in the digital age.