The difference between 4.8 and 5.0
I know it seems like an easy question – it’s 0.2. Except there is one circumstance where it’s not – it’s actually 6!
The circumstance I’m referring to is the difference between customers rating you 4.8 out of 5 and 5 out of 5.
Now, achieving 4.8 out of 5 is something to be proud of. It means most of your customers are happy and will continue to buy from you as they like your service and product.
You are missing out on sales though. Research shows that someone rating you 5/5 is 6x more likely to buy again, than someone rating you 4.8/5.
It’s one example of where a small change can have a huge impact on a business. So how do you get there?
Well, the first part of any journey is to know where you are setting off from. If you already know how your customers rate you, you’re halfway there.
If not, start asking for customer feedback, asking them to rate your products and service out of 5. The important part is to ask them, whenever they rate you less than 5 – why? What do we need to do to justify a 5 star rating from you?
That’s a bit like putting a destination into a sat nav – because it then tells you how to get to where you want to go. You are getting advice from your customers on how to improve your business, sales and profit – and it’s free!
Next part is to make the changes they suggest. Tell your customers what changes you are planning to make and ask what they think of them. Don’t forget to ask any staff who deal with customers – often they have better ideas than you will!
When you’ve made the changes, tell your customers.
And finally, don’t stop – keep asking for feedback and ratings and making improvements. Sometimes it can take a long time to move from 4.8 to 5 – but the results are always worth it!
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