Understanding if your customers are loyal to your company is critical to maintaining success. While understanding overall satisfaction is necessary, understanding the actual drivers of satisfaction and loyalty is even more important. Where Research Helps:
- Identify baseline satisfaction/loyalty within a customer or employee sample
- Measure satisfaction/loyalty over time for comparison
- Determine key drivers of loyalty, in order to improve specific areas of a business
- Gauge satisfaction/loyalty scores within different areas of a business (sales, customer support, etc.)
- Identify satisfaction levels with specific transactions in order to follow-up with clients quickly
- Determine the likelihood of customer churn prior to actual defection
Below is a breakthrough method elucidate used for measuring Customer Satisfaction:
Identify Customer Churn:
Overview: Combines traditional loyalty survey questions, Conjoint Analysis, and Segmentation to better understand churn. Customer loyalty programs are tried-and-true and very important to the inner workings of an organization. However, one component still missing from these programs is the likelihood a customer is swayed to leave by specific competitive offerings. By presenting key competitive products to a current customer base, and asking those customers if various products are attractive enough for them to consider leaving their current provider, an organization can gain a new level of extremely useful information. Elucidate identifies how much of a customer base may be vulnerable to defection, and profiles “vulnerability groups” to help understand what might be driving vulnerability.
Customers are not all the same. They have different needs, different behaviors, different attitudes, different demographic profiles, and different vulnerabilities. If companies don’t understand these differences, they are left with a one size fits all approach to retain them.