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What does a product satisfaction survey do?
Think about a product that you love and use every single day. When did you purchase it? Did you know exactly what you wanted through research? Did it fall into your lap and you can’t imagine your life before it? Now, think about one that you hate. Think about purchasing it because you needed a quick fix. Think about how you thought it was something that would work perfectly, and it totally fell flat.
Not every single product that a person purchases in their life will rock their world. Customers may not have a strong enough reaction about a product to leave a review or express concern over a phone call or email, but that doesn’t mean that you can’t use their feedback to help improve the product. Understanding your customer’s needs and how your product impacts their level of satisfaction as well as their brand experience is crucial. As a company, it’s your job to regularly check-in and see whether or not your product is meeting your customer’s needs. Here’s everything you need to know about a product satisfaction survey and how you can successfully utilize one.
What is a product satisfaction survey?
A product satisfaction survey says to your customers that you care about whether or not they enjoy using your product. Are you providing quality to them? Are they satisfied with their purchase? What can you do as a company to provide better value to them?
Companies that don’t provide this type of support don’t get brand loyalty, and it ultimately makes a difference in their sales. If you want to know how your customers are doing, all you have to do is ask. Ask for feedback on your product and you’ll improve your customer relations and the product itself.
It’s amazing how many customers are responding to our surveys. For every dollar we spend on a Survicate subscription, we generate about $25 in additional revenue.
— Michael / Head of Marketing at Looka
Our product satisfaction survey template
Using a product satisfaction template will walk you through the process of checking in with your customers. Here are just some of the benefits…
To check if your customers are happy with the product. Getting a new product is exciting, but if it isn’t everything you dreamed of then it’s great to hear from the company so you can provide your feedback as a consumer.
To evaluate newly introduced features. If you want to know how some of your newest features are doing, the people who will know best are your customers! These are the people who use your product every single day.
To enable you to check if product development is going in the right direction. Consumers can let you know right away if they don’t like any update. If your most recent development isn’t what they were hoping for, you can work quickly towards improvements.
To assess any problems before they escalate. If someone is having an issue, it’s better to address it early and often.
Potential consequences of not running product satisfaction surveys
If you haven’t been running product satisfaction surveys and the world isn’t burning, you might be wondering what the point is. Yet, there are potential consequences, and here’s what you should know.
Increased churn. Churn refers to the number of service subscribers who discontinue their subscriptions within a given time period. If you’re not checking in with your customers via survey, you won’t know when they’re dissatisfied to the point that they no longer want to use your product.
Negative product reviews. Around 80 percent of people trust the review of a stranger as much as they do a close friend or family member. Reviews hold real weight and having negative ones about your product can really hurt your business.
Creating features that are redundant. If you don’t receive feedback on your features, you won’t know and understand how certain features can be combined or improved. Reduce your product development costs by asking individuals who know your product’s utility best.