Business Challenges / Customer Satisfaction
"Research is a process where you can spend a lot of money and come up with zero. Isurus guides me quickly through the key decisions, helps me avoid the pitfalls, and makes sure I walk away with high-value implications."
-Vice President of Marketing, Enterprise Content Management System Provider
Some companies maintain an on-going Voice-of-the-Customer program to stay aligned with customer needs. Others conduct ad hoc customer satisfaction studies to identify potential gaps between customer expectations and company performance. Still others conduct ad hoc customer satisfaction research only when they believe a systematic, yet unidentified, problem exists among the customer base.
Customer satisfaction research typically explores the following dimensions:
- Overall satisfaction
- Likelihood to continue to purchase and recommend
- Product and service performance metrics
- Customer and technical service metrics
- Financial metrics (share of wallet, etc)
- Brand perceptions such as market leadership, innovation, etc.
Customer satisfaction research uses qualitative and quantitative approaches depending on the type of service and customer segment:
- Major account research is typically conducted with qualitative in-depth interviews; the objective of these interviews is to explore the satisfaction of specific major accounts rather than collect metrics to project onto the customer base as a whole.
- Quantitative surveys are used for assessing the overall status of customer satisfaction. They are also used when the results are tied to employee reviews or compensation.
- Satisfaction, loyalty, share-of-wallet, and Net Promoter Score ratings are common techniques used in customer satisfaction research.
The typical insights gained from customer satisfaction research include:
- An unbiased, third-party assessment of the health of the customer base
- Early warnings of trouble spots and at-risk customers
- Tactical actions that will improve customer satisfaction