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Measuring and Improving Customer Satisfaction

You cannot improve what you cannot measure.

Customer Satisfaction measurement and tracking will help you to maintain or gain competitive advantage. In today’s aggressive markets, companies not only have to offer competitive prices, they also have to increase service levels as customer retention and loyalty is paramount to the growth of any organization.

  • We all know that costs of winning new customers are much greater than the cost of retaining current client base, on average 5 to 7 times as high.
  • Studies also show that a 5% increase in customer retention can produce an increase in profits, across a range of industries, ranging from 20% to 50%.
  • Yet most businesses lose between 15% to 40% of its customers each year.

And unfortunately most businesses do not know:
  • which customers they lost,
  • when they were lost,
  • and most importantly why they were lost.

If satisfaction with your product, service, customer care, technical support, and all other client related activities must be taken seriously, shouldn't you know whether your customers are happy, and therefore loyal to your brand?

To achieve high levels of customer satisfaction, it is essential that an adequate measure of performance is available; which can be used to benchmark current performance, identify areas that call for improvements and monitor impact of corrective actions taken.

At Reveal Research, we specialize in developing and conducting customer satisfaction studies that will give you the necessary insight on how your clientele views your brand, how they rank your service levels, and what improvements they would welcome.

Contact us and let Reveal Research help you keep your customers coming back, get them to spend more money, and become ambassadors for your business through positive word of mouth advertising.

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See Also:
Can you afford not to do market research?
Why hire a professional market research firm?
Measuring and improving customer satisfaction

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