CSI stands for Customer Satisfaction Index and is an important tool for businesses that want to measure and improve customer satisfaction. By understanding customer satisfaction, they can then make strategic changes that lead to increased loyalty and better business performance.
What is CSI and how is it measured?
The CSI is a standardized method for quantifying customer satisfaction. It provides a figure that represents how well your business meets customer expectations in different areas.
Measurement of the CSI is usually done through customer surveys where customers are asked to rate different aspects of an organization. A central part of these surveys are the following three standard questions, which give an overall picture of customer satisfaction:
- How satisfied is the customer with the business as a whole?
- How well does the business meet customer expectations?
- How well does the customer think the business is performing compared to an ideal business?
Customers usually answer the questions on a scale of 1 to 10, and then the result is converted into a scale of 0 to 100.
Our CSI surveys also ask more detailed questions about things like expectations, quality, service, affordability and image.
Why is the CSI important?
Measuring CSI provides valuable insights into what works well and what needs improvement in a business. A high CSI indicates that customers are satisfied, which increases the likelihood that they will stay or return and recommend the company to others. On the other hand, a low CSI signals the need for immediate action to improve the customer experience and prevent customer churn.
In addition, the results of the CSI survey help a business to prioritize its resources effectively by identifying the areas that have the greatest impact on customer satisfaction. Regular measurement allows you to track trends over time and react quickly to changes in customer perception. This proactive approach can lead to increased customer loyalty, better reputation, and ultimately higher profitability.
Focusing on CSI thus ensures that the company is constantly adapting to customer needs and expectations, and that it has a good basis for being at the forefront of innovation.
The steps of a measurement
When we carry out CSI measurements, we do so based on the following process:
- Interview with the business: Key people in the business are interviewed to understand in depth their business and its needs.
- Design of questions: This includes the three standard questions, as well as additional questions covering specific areas relevant to the specific activity.
- Data collection: Customers are usually contacted either by telephone or digital survey.
For in-depth customer surveys, video meetings are also used. - Analysis of results: Responses are compiled and analyzed to calculate the CSI, and identify other insights such as strengths, weaknesses, opportunities, etc.
- Report: The final insights are compiled in a report that includes clear graphics and can be used to develop an action plan.
Tips for successful use
Once the CSI and other insights are identified, it is important to link it to action where necessary. We recommend the following to get the most out of the results:
- Transparency: Share the results within the organization to foster a culture focused on customer satisfaction.
- Actionability: Be prepared to act on the feedback by implementing improvements where needed.
- Continuity: Conduct CSI surveys regularly, for example annually, to monitor changes and trends over time.
Do you need help with CSI?
We have experience in many different industries and types of surveys. Do you need help with CSI or a customer survey? Please contact us for more information, or read more about our customer surveys.
