What is return on happiness?
Return on happiness can be defined simply as how many customers out of the total customer base are helping you bring fresh business. So if 10 customers are helping you to bring business from a total customer base of hundred. The return on Happiness is 10%.
What is there for me as an organisation?
There have been hundred of research books written on the advantage of service in your existing members and hence I will not dwell on it. But, I will share the most important factors on why this is critical for you. The cost of acquisition through happy customers is the lowest, the efforts required to bring in more customers through this process is also lower, the cost of retaining an existing customer on your system is lower then bringing in more fresh customers and you get automatically brand ambassadors for yourself as an organisation brand ambassadors for your organisation brand ambassador for your organisation brand ambassador for your organisation.
How do we make our customer happy?
Happiness of a customer comes in from some few but very important factors
Provide your customer and experience that matters for him not a general experience. HIs happiness is driven by what he expects in not what you do for others.
Creating means or using technology understand the specific needs of each and every customer. From clusters you have to move to the last Mile which is the end customer.
Build a process that it helps building relationship with each and every customer.
Relationship should be with the organisation rather than the individual.
This is critical build seamless process so that the customer relies on the organisation rather than the individual.
Create transparent processes to build trust with the customer.
THE customer should see value for money in each and every transaction he does with the organisation.
Finally, let us remember that if the customer is happy he will ignore many flaws. On the other side if the member is unhappy he will find only flaws in the system.
Emotional quotient of your customer towards your organisation
We all are aware that measuring intangible aspects like happiness is very difficult. Further, these aspects cannot be same from organisation to organisation. So, a general solution may not be the right way to look at it. From an implementation and execution perspective it’s always easy to roll out applications that are already available in the market. But, if you really want to succeed at making your members happy please create a model which is very specific to your own organisation.
Service differential has always been the critical aspect in any organisations success. Measuring happiness is a leap beyond it.