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Business owners would agree that clients are our greatest asset. Yet, when was the last time you asked how well you are serving their needs? When planning for the future, the few companies that take time to listen to clients have a competitive advantage.

For many companies, surveys are the only reliable means of monitoring client satisfaction. Research from www.consumer.com.my shows that half the customers who tell you they are “fairly satisfied” won’t come back again. Even worse, it costs between six and 10 times as much to gain a new customer as it does to keep an existing one. Because less than 4 percent of unhappy customers complain, you may be tempted to think all is OK. However, 96 percent of unhappy customers do not complain; they just don’t come back. This has a significant impact on profits, so serious attention must be given to maintaining client relationships.

There are several survey options available. Written surveys, telephone surveys, e-mail surveys and in-person interviews are all realistic options to collect client feedback. Selecting the best one depends on your circumstances.

Written surveys allow you to ask specific questions in a standard format to a large audience. The shorter the survey, the more likely your client will complete it. However, the typical response rate for this survey type is only 10 percent. To be successful with written surveys, make it easy for clients by offering multiple choice answers or a rating system with a convenient return envelope.

Telephone surveys provide direct contact with your clients. These are best when engaging a smaller audience and are most effective when the client knows you will be calling in advance. A simple letter mailed in advance notifying them who will be calling and when is very appropriate. The calls can be split up and handled by several different people. It’s a good idea to select a few select clients to be contacted by your most senior person or principal to demonstrate how important they are to your business. The rate of response for telephone surveys can be as high as 90 percent.

E-mail surveys such as those by Zoomerang provide a nice alternative in this digital age. Clients can access the survey through e-mail, and their responses can be anonymous. Surveys should be short and simple to increase the response rate and to keep costs down. Web sites like Zoomerang base their charges on the complexity and length of the survey. Let clients know up front how long it will take them to complete the survey. The downside is that you don’t get the opportunity for direct client contact, but the plus is that results are available quickly.

In-person interviews give you the benefit of one-on-one discussion with your clients. Time is money, however, so select clients to be interviewed carefully to make it worth your time and theirs. This type of survey is usually reserved for a select group of clients. The benefit is that you’ll gain a much deeper understanding of your clients’ needs. Another option in this category, however, is holding a focus group or discussion group with a handful of clients. This can be particularly effective when seeking specific feedback on a new product, service or market.

No matter which survey method you choose, gathering client feedback will help you make the most of your advertising and marketing dollars by allowing you to specifically target your efforts.

You may also want to consider the perspective of your employees. When issues like branding, introducing or developing new products or services, company image, or changing benefits arise, getting feedback from your employees could give you an extra advantage. Your employees see your services, products and clients from a different point in the sale and delivery cycle.

Most important, clients and employees want to see action as a result of their feedback. Thank your clients for their insight, highlight the changes you are making in your newsletter or Web site, and make change happen.

Renee Godwin is a partner at Godwin Olson LLC. Contact her at 503-201-0726 or via e-mail at [email protected].