Satisfaction Rate

The term 'satisfaction rate' describes the proportion of people or customers who are emotionally aligned with a product, service or experience, based on pre-determined criteria or surveys. By measuring satisfaction rate, organizations will find out if their offerings are effective or not, as well as what needs to be improved, and customer or employee loyalty will be increased. Satisfaction rate can be assessed using different tools such as customer feedback surveys, NPS and Employee satisfaction surveys.

Example of Satisfaction Rate

A hospitality company that has developed an app monitors the guest satisfaction levels with the post-stay surveys sent to the guests after their hotel experience. The questionnaire covers the issues of room cleaning, staff friendliness, amenities, and overall satisfaction of their stay. Guests provide ratings for all the aspects on a scale of highly dissatisfied to highly satisfied. Taking into account the results from aggregation, the company calculates its satisfaction rate, and subsequently, decisions are made regarding service improvements, staff training, and operational enhancements. Customer satisfaction can be improved and maintained by consistently working towards this goal and thus acquiring more and more repeat customers as well as good reviews and recommendations which results in greater growth and profitability.