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Satisfaction and Loyalty Research
Current Customer Satisfaction/Loyalty Assessment
Purpose and Benefits
Customer satisfaction research is one of the most important research
studies any company can undertake. Satisfied customers, or more
accurately, loyal and "committed" customers, are a company's most
important asset. Using focus groups, surveys and regression analysis,
we get at the root of not just customer satisfaction, but customer
loyalty and commitment. Merely satisfying customers is not enough
to keep them; companies must nurture loyal and committed customers
in order to keep them, to encourage them to buy more of your products,
and to generate the positive word-of-mouth that will in turn bring
in new customers.
By developing loyal and committed customers, your company will increase
sales and market share, and reduce the churn cycle that eats away
at sales and marketing budgets and lowers marketing ROI.
Key Questions Answered:
- What are the primary drivers of customer satisfaction
for our products?
- What are the minimum levels of expectation
that will maintain satisfaction?
- Which drivers of satisfaction are below minimum
expectations, and decreasing satisfaction?
- Which drivers of satisfaction are above minimum
expectations, and increasing satisfaction?
- What value-added elements of our products or
services can give us a competitive advantage?
- How well are we providing these value-added
elements?
- How do our products compare with competitors'
products?
Techniques
- Focus groups/Triads/One-on-one Interviews
- Telephone, mail or web surveying
- Regression analysis
Lost Customer Analysis
Purpose and Benefits
Reducing customer churn is one of the most critical aspects of a company's
ability to maintain solid ROI in its sales and marketing operations.
Depending on the industry, it costs anywhere from twice as much to
10 times as much to gain a new customer as it does to retain a current
one. Thus, it is imperative that companies keep customer churn to
a minimum. The fact is that, while conducting current customer satisfaction
studies is a very important part of any company's operations, only
by conducting lost customer evaluations can a company really find
out the specific reasons why you are losing customers. In lost customer
evaluations these problem areas are specifically identified. Once
identified, you can work to fix these problems and thus reduce customer
churn. The result of reducing customer churn, even by a couple of
percentage points, is often a dramatic increase in your sales and
marketing ROI.
Key Questions Answered:
- Why are customers leaving?
- What were we not offering
that we should have?
- What aspect of our offerings were deficient?
- What were competitors
doing or offering, that caused customer defection?
- What are the primary
things we can be doing to keep our customers?
Techniques
- Focus groups/Triads/One-on-one Interviews
- Telephone, mail or web surveying
Employee Satisfaction/Loyalty Assessment
Purpose and Benefits
A stable and prosperous company depends first upon satisfied, motivated
and fulfilled employees. Conducting periodic qualitative and quantitative
research can provide management with the information it needs to
stay in tune with its employees and identify potential problem areas
that cause dissatisfaction and defection. Having a third party conduct
this research helps to ensure that employees are open and honest
with their feedback regarding the company's policies, practices
and culture. In addition, a third-party lends an objective assessment
of the results. Management can use this information to make effective
changes in the organization to help improve morale and employee
productivity.
Key Questions Answered:
- What is the level of satisfaction and work
fulfillment of our customers?
- What are the key drivers
of satisfaction and fulfillment among employees?
- Are we addressing these
areas? How well are we serving our employees in these areas?
- Does the company structure
allow for input from all employees? Does
it give them a sense of being valued and empowered?
- Is there team spirit?
Are our employees motivated to go the extra mile?
- Are our employees proud
to work here?
Techniques
- Focus groups
- Self-administered paper or web surveys
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