Why should a business invest in customer satisfaction research?
A business is only as strong as its reputation among key customer segments. If customer satisfaction is trending down, the business is slowly losing viability.
One primary reason for cultivating loyal customers is that they are less price-sensitive and more tolerant of mistakes and missteps.
How do you find out how loyal your customers are? The only way is to ask them–using a statistically valid method–and then continuously monitor and measure the results over time.
The rage among marketing research people these days is the Net Promoter Score (NPS). The greatly simplified NPS theory is that if a majority of customers are willing to recommend (promote) you, then you’re OK. Trouble is, this is often a gross exaggeration. It’s very common to see customers say “Yep, I’d recommend you,” but in NY minute switch to a competitor. So, NPS is a great concept, but it needs management to make sure it is telling you the truth.
If you’d like to talk about this, or see a demo, call me .
You can reach me at 800-544-8269, ext 17. Or, email me with CUSTOMER SATISFACTION in the subject line. Remember, there’s never a fee to brainstorm, kicking around ideas.