How to Measure B2B Customer Satisfaction
April 3, 2018
A satisfied customer is a returning customer. Every business owner knows this. Which is exactly why there are numerous ways and methods developed to measure customer satisfaction.
The only problem is that these methods are primarily aimed at measuring consumer satisfaction. But what if your customers are business owners themselves? Their satisfaction is just as important, especially for businesses targeting mainly B2B customers.
Read on for the most effective methods to measure B2B customer satisfaction, and how Veem can help your small business grow.
Create Targeted Questionnaires
Ask a number of your oldest, most loyal B2B customers to participate in your feedback sessions.
Who to Ask?
The best person for the review would be somebody from your counterparty who knows the most about working with your business. Depending on your business and the nature of your relationship, this may be an accountant, a customer rep, or even the CEO.
It’s even more important to figure out who should ask the questions on your part.
Create a short and to-the-point questionnaire that lets them give meaningful answers.
The obvious answer would be the person who deals most often with the counterparty.
However, this is a bit tricky, because your counterparty may not be comfortable to share less than positive feedback with the person they’re going to get in touch with the next time they need your products/services.
In some cases, it’s best to have a third party ask the questions, like another employee, or a board member. This is especially true if you’re also asking for feedback about the contact person themselves.
What to Ask?
First of all, you need to figure out what you’d like to gain from your B2B questionnaire. Do you want to find out why your customers choose you over the competition? What they like about your business, and what they’d improve?
Create a short and to-the-point questionnaire that lets them give meaningful answers. Instead of many broad and general questions, try going for fewer but very targeted ones. Vague and polite answers will get you nowhere.
Choose if you want to focus on short or long-term issues. For example, you can send a short survey after a particular transaction and ask your client about their specific experience. This is referred to as CSAT (customer satisfaction), and it shows how well your business did a particular task.
On the other hand, you may choose to focus on long-term issues and ask questions like “Why do you prefer our services to our competitors’?” The data you get from these questions is called NPS (net promoter success). This is a clear indicator of your longer term success with your B2B clients.
Capture Data for Reports
Luckily, collecting data from customers is increasingly easy today. Tools like Google Analytics help you capture and evaluate all kinds of data from your website. Accounting and CRM (customer relationship management) software provide you with crucial data about your key performance indicators (KPIs).
Analyze your reports regularly and compare them to what you’ve learned directly from your customers.
If you need help choosing software, check out our blogs The 5 Best Accounting Software for Your Small Business, and How to Automate Your Small Business’ Operations.
Accept constructive criticism and make sure to follow up on your interview with a thank-you note. You may even let your customers know the results of your survey, along with the next steps you will take to incorporate their feedback into your business’ operation.
For example, you can try innovating various processes to increase your customers’ positive experience. If you’re sending and receiving international payments, look for alternatives to traditional bank transfers to increase efficiency and cut costs.
You may even let your customers know the results of your survey, along with the next steps you will take to incorporate their feedback into your business’ operation.
One of these alternatives is Veem.
Veem allows you to send and receive international transfer with a click of your mouse. Veem creates a direct connection between you and your business partners, eliminating all hidden fees and unexpected delays.
To top it all, Veem charges no wire fees and offers favorable foreign exchange rates.
Sign up for a free Veem account and increase your customers’ satisfaction.