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Customer Satisfaction & Loyalty
Why Is Customer Satisfaction And Customer Loyalty Research
Important?
Satisfying customers is the only way to stay competitive in today's marketplace. Customers have an expectation of service and product performance
that must be met. The balancing act between what customers want and what your company can provide must be optimized in order to maximize your firm's
long-term profits. This occurs in two ways:
- With precise information, companies can focus on issues that truly drive customer satisfaction. A directed focus often leads to cost reductions because
companies can emphasize improvement in areas of customer concern and de-emphasize focus in other areas.
- Focusing on motivators of customer satisfaction leads to more loyal customers, who tend to be the most profitable customers (i.e., repeat business is usually
the most profitable). An inclusive customer satisfaction and loyalty program can, therefore, be considered a source of future profits.
The goal of Decision Analyst's Customer Satisfaction & Loyalty research is to help companies maximize long-term profitability through reaping
the "lifetime value" of its customers.
Types Of Customer Satisfaction Research
Motivation
Research. Helpful in determining strengths and weaknesses
of corporate satisfaction and loyalty programs, motivation research is usually
an introductory step in developing an integrated customer satisfaction and loyalty
system. Our experts conduct in-depth motivational research interviews with both
employees and customers to develop insight into the performance of your current
satisfaction program. Recommendations to improve customer satisfaction and loyalty
are made based on this motivational research.
Tracking Studies.
Studies repeated at specified intervals give organizations a history of information
about customer or employee satisfaction, revealing trends in both satisfaction
and loyalty. Tracking studies are especially useful in determining and monitoring
key variables that influence satisfaction and loyalty—which in turn, influence
company profitability. Tracking studies may be conducted using any of the following
methods:
- Telephone
- Mail
- Internet
- Interactive Voice Response Systems
Transaction Monitoring.
These studies provide insight into customer satisfaction at different points
of customer contact. For example, customers who call a customer care center
would complete a satisfaction survey soon after their call-center experience.
Other customers who purchase a product in a retail operation would receive a
questionnaire requesting information on that experience. Transaction monitoring
focuses on increasing customer satisfaction at particular stages or in specific
places. Such a microexamination of customer behavior allows companies to improve
profitability through streamlining processes that improve customer loyalty.
Transaction monitoring may be conducted using any of the following methods:
- Telephone
- Mail
- Internet
- Interactive Voice Response Systems
Exception Systems. The exception-system
approach allows for the identification of problems that may occur in an organization
by encouraging customers to give input when they feel dissatisfied. The goal,
therefore, is to identify areas of weakness that should be addressed to improve
customer satisfaction. Exception systems may use any of the following methods:
- Internet
- Interactive Voice Response Systems
- Comment Cards
Customer Value Analysis.
This analysis gives customer satisfaction and loyalty programs an added level
of information about customers. A typical customer value analysis classifies
customers based on how much they spend and how much value they add to your company.
Specifically, the analysis allows a directed set of actions to be developed
to increase satisfaction and loyalty of the most profitable and valuable customers.
Marketing Consulting.
Decision Analyst consultants provide insight into all variables that influence
customer satisfaction and loyalty, such as product design, strategic positioning,
brand strength and brand equity, product quality, competitive activity, customer
service, and advertising. Through a careful examination of these variables and
the interactions among them, our consultants develop a satisfaction strategy
that will maximize long-term profitability.
Employee Satisfaction Research
Employee satisfaction measurement is a crucial first step in most corporate
satisfaction and loyalty programs. Employees are the contact points between
the corporate brand and customers. Dissatisfied employees often lead to dissatisfied
customers. Employee satisfaction can help maximize long-term profitability in
four ways:
- Happy employees tend to do higher quality work.
- Happy employees tend to be more productive.
- Happy employees are more likely to stay with your company.
- Happy employees tend to create happy customers.
Employee Perception Research
Studying employees' perceptions offers insight into their knowledge of customer satisfaction. If employees incorrectly believe customers are satisfied, it is
unlikely that changes will be made in product or service levels to attempt to satisfy customers.
Likewise, if employees incorrectly believe customers are dissatisfied, changes in products or services that could adversely affect customer satisfaction could
be implemented. Employee perception studies are, therefore, a crucial component of satisfaction programs that are geared to maximize long-term corporate profitability.
Dealer Satisfaction Research
Among automotive OEM’s, managing expectations of new vehicle dealers
is a critical component in optimizing business relationships and managing long-term
profitability. Satisfaction with financing, service promotion, parts delivery,
and product issues are some of the essential types of information required to
effectively manage dealer relations. We use both qualitative and quantitative
techniques to help OEMs diagnose problems and track satisfaction among their
dealer body.
Customer Loyalty Simulator™
Decision Analyst’s Customer Loyalty Simulator™ predicts future market outcomes as a function of rational and emotional perceptions of the brand,
its products or services, and its customer service.
Customer Satisfaction & Loyalty Services
If you would like more information on Customer Satisfaction & Loyalty Research, please contact Jerry W. Thomas by emailing jthomas@decisionanalyst.com
or calling 1-800-ANALYSIS (262-5974) or 1-817-640-6166.
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