Industry Average says you can expect a 10-15% response rate on surveys…

Posted by Jordan Barta on Mar 23, 2018 8:41:47 AM

 

WHAT?! How can that be possible? Surveygizmo.com stated that the industry average is “… 10-15% response rate for external surveys.” (External surveys is referring to outside your organization.)

Questionss

That’s mind boggling.

You spend all this time and money crafting a survey and only get 10% response rate. Meaning for every 100 clients you survey, you get 10 responses… Is that even enough data to accurately reflect your client base?

Simply put, no. That sample size is not enough data to understand what your overall client base is thinking and furthermore, clients respond to a tailored service model that addresses their unique needs and without understanding what those needs are we can do little to properly serve them. 

So… How do you increase response rates to get the unique feedback needed?

  1. Educate - Your client MUST know that the assessment data is going to be used to tailor the client service model to their unique needs. Marc Pierce, the CEO of STAMP, a B2B assessment tool, says that “socialization to the clients that an assessment is being sent to them is extremely important.”
  2. Motivate – Account managers should be motivated to drive engagement as an expression of the mutual partnership between your organization and your clients. Incentives for account managers to drive client completion, regardless of whether the feedback is positive or negative, works quite well. Furthermore, incentives for customers can drive completion as well – Amazon or Starbucks gift cards, discounts on current services, etc.
  3. Communicate – Having transparent conversation only increases happiness among businesses and their clients.Notify the client prior to the assessment being sent out, confirming their receipt of the assessment, utilize reminders to encourage completion and confirm completion.
  4. Incorporate - Including bi-yearly, quarterly and even monthly assessments verbiage in your client agreements/contracts will ensure a significantly higher response rate – reiterating your investment in tailoring your service model to your clients needs.
  5. Address – It is paramount that following an assessment of any kind that the feedback obtained is addressed with your clients. Obtaining this kind of feedback and failing to appropriately respond will only cause the issue to fester with your clients and their future response rates to drop.

These are just a few things you can do to ensure a significantly higher response rate. A response rate that will give you and your business legitimate feedback. With that feedback, you’ll be able to increase client retention and decrease churn. 

Tags: customer success management, CX, customer experience, success management

STAMP is nominated as a ‘High Performer’ in the G2 Crowd Grid for Customer Success!

Posted by Jordan Barta on Mar 13, 2018 1:40:11 PM

What is G2Crowd?

G2Crowd is the YELP of software. This is where businesses rate and post their reviews of the software services they utilize. G2Crowd works hard to earn and maintain the trust of the community by validating these reviews.

Why does this matter?

STAMP has been tested and it has been approved by other businesses like you! Customer Success is a very important market-space, which includes capabilities for capturing customer data, providing feedback and assessment results, showing red flags on data related to interactions and is a scale-able solution for any sized business.

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Customer success software is used by businesses to ensure thorough interactions with their B2B customers. STAMP has been rated a 5 out of 5 stars on G2Crowd.com. ‘G2 Crowd’s mission is to provide the insights business professionals need to gain confidence in their buying decisions and become more successful in their jobs.’ Organizations of all size are across a wide variety of industries rely on customer success tools to obtain the ‘voice of the customers’.

In 2017, the overall market for customer success management software is growing at an alarming rate. Based on the everchanging landscape of sales organizations, companies are investing more money in customer success and retention solution. Customer success initiatives are extremely important to preserving and expanding revenue, boosting customer advocacy, and sustaining corporate profitability and growth.

STAMP has found itself in a very unique place because their solution does something that other organizations can’t do. The reporting capabilities STAMP provides its customers has never been seen in this marketspace before.

Tags: g2crowd, customer success, CX, customer success platform, customer success management

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