Customer Satisfaction Research
As the US recovers from our most recent recession, companies are beginning to look aggressively for growth opportunities. While new growth many times requires investment spending, many smart companies have continued to invest in their current customer relationships. This is because they know the customer relationship equation: “it takes 5 times as much to get a new customer as to keep one” and “loyal customers are your most profitable and your best prospect for new products and services”. These old adages aren’t new; however, many companies tend to forget that customers are the reason you come to work everyday. A well designed customer satisfaction survey can ensure you are informed of your customers’ needs and desires.
Infosurv conducts over 100 customer-focused projects each year. Depending on our client’s needs, the surveys may focus on the relationship they have with current and prospective customers, capturing on-going transactional feedback, or surveying a targeted customer segment to assess the potential of a new product or service. Each project design is customized to meet the specific research objective.
Infosurv’s researchers are experts in:
- Customer Loyalty
- Customer Satisfaction
- Customer Service Satisfaction
- Patient Satisfaction
- Restaurant Customer Satisfaction
- Member Satisfaction
Why do it?
For most companies, your ability to meet customer expectations as well or better than competition is critical to your success. Customer expectations are a function of their needs, their customer’s needs, and the ability of your competition. While customers may “try you out” because you offer a new product or service, a lower price, or a premium quality, they won’t do business with you long-term if you fail to meet their expectations across the critical points of interaction. Identifying the points of interaction and understanding what the customer expects from each is a critical staring point to understanding the customer relationship. Measuring performance relative to customer expectations can give an unbiased assessment of your strengths and weaknesses. Much customer-related research stops at this point giving a snapshot picture of where you stand vs. competition and, possibly, some normative data. However, does this give you the forward looking direction to determine “what to do”?
Infosurv can work with you to develop a key driver analysis which provides the predictive power to direct actions toward those areas with the greatest leverage to drive customer satisfaction, loyalty, and business performance.
Example Questions to Addressed with Customer Research
- What percentage of my customers are loyal/vulnerable?
- Where do I have competitive advantage in my customer’s mind?
- What transactions are minimum requirements and what services are “value-adds”?
- Where should I focus limited resources that will yield the greatest ROI and increase profitability?
- Which transactions have the greatest impact on the customer relationship? Which are “deal breakers”?
- Can I validate internal performance metrics with customer feedback?
If you would like to speak with one of our senior research consultants regarding your current customer research initiative, call us at 888.262.3186 or contact us via email. Alternatively, you may download our services brochure by completing to form on the right.