The N°1 metric to create a sustainable Property Management business

Introduction

There are a lot of factors impacting your business, and customer satisfaction is all too often a forgotten performance metric but it’s the one impacting your business’ bottom line the most.

Through this article we will explain what is customer satisfaction, why it is so important and how to measure and improve it.

What is customer satisfaction?

Customer satisfaction measures how your product, service, and overall experience either falls short, meets, or exceeds customer expectations.

Its aim is to help manage how happy your customers are with you, your products, and your brand as a whole, by measuring this. How you measure it varies from business to business

Why is it important?

If you don’t measure your customer satisfaction, you can’t predict or prevent customer churn to plan proactively because you don’t have any metric to analyze.

You can’t identify unsatisfied customers that could churn or leave you negative customer reviews, which leads to a high turnover rate and bad reputation.

You also can’t identify happy customers that you could turn into promoters and miss an opportunity to strengthen your branding and reputation.

If you’d like more information on the costs of customer satisfaction read our article: “The real cost of Customer satisfaction in property management”

How to measure it?

There are several ways of measuring customer satisfaction but a customer satisfaction survey is one of the easiest and most reliable methods for getting a snapshot of satisfaction levels around particular elements of your business.

If you’d like more information on the different customer satisfaction programs read our article: “A guide to Property Management Customer Satisfaction Programs”.

Many customer satisfaction systems exist but not many are specific to the property management industry.

This is why at Umanest we designed a customer satisfaction survey for property management businesses based on 9 key metrics so that you don’t have to worry about anything.

We provide access to real-time feedback through a user-friendly dashboard that will allow you to make informed business decisions while you can still rectify.

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Interested to know how we helped a company save over $150K annually with our customer satisfaction programme?

Download our Case Study HERE

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Max Oliviero is helping Property Managers grow profitable and reputable businesses. He is the Founder of Umanest. Connect with Max on LinkedIn and Facebook.

Want to take your Property Management business to the next level? Schedule your free meeting here.