The process of finding and acquiring a customer is both difficult and costly. Research has shown:
It is significantly more costly to attract a new customer compared to keeping an existing customer;
Satisfied customers buy more, are more loyal and recommend their supplier more, while dissatisfied customers not only usually complain to others but they also tend to buy less;
Most dissatisfied customers don’t complain directly but they do tell their family, friends and co-workers and increasingly, they report their displeasure on social media; and
Knowing that their performance may be rated by customers may improve your employees’ work habits.
Given the above, once a customer is acquired, it is critical to cultivate the relationship by keeping them happy and coming back. Cohesium can evaluate your customers’ overall perceptions of your product/service based on all their experiences over a period of time and also what drives their overall satisfaction, referrals and repurchase of the brand. This will provide your organization with clarity into the best ways to satisfy your customers.
In an effort to save some money, some organizations may consider "following up" with their customers by delegating this task to an existing staff member but it is our experience that they will find it challenging to collect high quality, unbiased and useful information on a consistent and timely basis. This inferior and unreliable data can then impact senior management’s decision-making ability.
Cohesium’s partners have specialized expertise and experience measuring the customer relationship, having managed hundreds of thousands of customer relationship surveys in the past on behalf of clients. We can help your organization better understand your customers’ frustrations, needs and wants so that you can retain your customers and convert them to advocates for your organization. You will be able to increase your revenue and grow your business through not only the increased customer loyalty and referrals but also with insight into how to attract more customers.
Key surveying areas:
Define what customer service means to your customers;
Measure customer expectations, perceptions and identify gaps between expectations and perceptions;
Identify key strengths and focus on these to create new opportunities that will enable your business to grow;
Identify what causes your customers to be “at risk”;
Prioritize areas for improvement, to retain at-risk customers and not lose future customers due to controllable reasons: negative word-of-mouth/social media;
Discern customers’ likelihood of recommending and repurchasing your service/product;
Identify key drivers of satisfaction, referrals and repeat business;
Determine how well your organization is performing in terms of each of the key drivers;
Monitor the key indices, such as a Customer Satisfaction Index and/or the Net Promoter Score (NPS) so your business can harness the power of Promoters, foster and build relationships with Passives and understand the issues and concerns of Detractors;
Optimize the effectiveness of your promotional campaigns; and
Monitor performance over time, and analyze any changes to determine trends and changes in your industry.