Customer experience has always been an important part of the business equation. The client who had a positive experience with your business will favor your destination over your competitors next time, bringing you not only a good customer retention rate, also more revenue. To rephrase it shortly, happy customer = returning customer. But, how you would know if your customer is satisfied with your service, and will be back next time? How would you measure your clients’ happiness level so precisely, that will allow you to increase your retention, and calculate your future success? We hear you saying that there are bunch of ways of doing that, but you probably feel that almost all of them have something missing. A big dark missing part that keeps you from touching the exact numbers!
As a customer experience and happiness professionals with 10+ years of experience first hand, we tried lots of techniques, implemented tons of tools and solutions to help businesses measure their customer satisfaction and make their clients super-happy. And our long-years endeavor brought us to a simple yet disrupting discovery that will change customer experience measurement industry from the roots! We at Qmeter - the team of data-hungry professionals came with a specific measurement technique - SLI (Satisfaction Level Indicator) that gives you the most exact data about your customers’ satisfaction and helps you to improve your services on the go!
Satisfaction Level Indicator (SLI)
SLI is comparative measurement - your current satisfaction score compared to your best possible performance. The main principle of this technique is to show you what would you get in perfect situation (where your services rock, and your business is a true happiness producer), and how are you doing currently.
SLI is based on a scoring system that assigns below numeric values (from -100 to 100) to 5 levels of customer experience:
|50 to 100||Excellent||You are doing great. Everything is in Best scale based on current service. Means: Customer is Happy and do not requires anything more from you.|
|0 to 50||Good||You are doing good but something missing. Customer is Happy but something still missing which needs to be solved or investigated. You need to keep your score high that it is.|
|0||Neutral||Is not good but at the same time don't means that you are doing awful. You need o work hard to improve you customer satisfaction. Business under risk.|
|-50 to 0||Bad||Customer service is doing many things wrong. To be worse just one step remaining. Business is under dangerous risk. Urgent need to take action. Needs many changes to save the Business.|
|-100 to -50||Unacceptable||Customers are not happy from service. You are losing them and Customer Satisfaction is awful. This is begging of losing business. You need to make fundamental changes or close the business.|
Simply asking one question with predefined answers (Excellent, Good, Neutral, Bad, Unacceptable) per services can measure how good customer service is. SLI calculates based on answer given by respondents.
How SLI formula works
To calculate company’s SLI, you need to collect feedback from your customers with predefined answers that are tied to the score categories as shown above - Excellent, Good, Neutral, Bad, Unacceptable.
Lets look at this simple scenario when customer answers to below question:
How was your experience today?
Each Feedback answer has its own score:
SLI is your current score against to the score on best case. Indicator calculate based on all rates received from customers. SLI formula is as:
100 × ( erc × 10 + grc × 5 + nrc × 0 + brc × ( − 5 ) + vrc × ( − 10 ) )trc × 10
erc: Excellent rate count. grc: Good rate count. nrc: Neutral rate count
brc: Bad rate count. vrc: Very bad rate count. trc: Total rate count
Let's say, you have received 250 Feedback with below times; Excellent - 181, Good 26, Neutral 4, Bad 27, Unacceptable 12.
First, SLI calculates the ideal case based on your feedback count as follows:
( Total Rate Count ) x (max score ) = Best Case In our case:
Then it measures the current situation as shows below:
(ExcellentRC x 10) + (GoodRC x 5) + (NeutralRC x 0) + (BadRC x (-5)) + (VeryBadRC x (-10)) (181x10) + (26x5) + (4x0) + (27x(-5)) + (12x(-10)) = 1685
- Best case —> 100 point
- Current case —> SLI
- SLI = (Current case x 100) / Best case
- SLI = 1685x100/2500 SLI = 67.4
SLI inside Qmeter
We build Qmeter based on our magic formula SLI which is helping business leaders to track daily customers, keep their services as appealing to their clients as possible by keeping them happy! The tool is a perfect solution for any kind of organization (from banks to hospitals, from restaurants to government service centers) that wants to be customer oriented. Qmeter helps business leaders to get feedback from their customers in a simplest way as in-store and out-store, by saving time, money and human resources on customer feedback collection and its analysis.