Customer Satisfaction & Loyalty

Most companies lose 45% to 50% of their customers every five years, and winning new customers can be up to 20 times more expensive than retaining existing customers.

Moreover, just a 5% reduction in the customer defection rate can increase profits by 25% to 85%, depending on the industry. Given these claims, it is imperative that customers know what makes buyers and specifiers choose one supplier rather than another.

A collection of our thoughts on the subject of customer satisfaction are gathered below:

 

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Infographic: Enhancing your customer experience

To be able to enhance the customer experience, it is important to understand the factors, both rational and emotional, which play their part in the process. Want to...

Infographic: Can you count on customer loyalty?

Do you know how important your customers are to you? See how improvements in customer satisfaction and the subsequent reduction in customer defections impact dramatically on your profits.

Infographic: The laws of attraction

Learn the fundamental stages of customer retention and see how even small increases in customer satisfaction can lead directly to significantly larger profits. Want...

White Paper: Managing the Experience of Your Customers

Putting the customer at the heart of the business is the central tenet of value marketing. Marketing is about generating products and services...

White Paper: Implementing Organisational Service Excellence

For service to make a worthwhile difference, service excellence must become a part of everyone’s daily activities.  But that’s easier said than done.  Good implementation of service...

White Paper: Service Excellence As A Focus For Organisational Change

A customer recently sent me a testimonial regarding some work I’d been doing with his organisation. The last sentence said: This is not mere training; if you fully embrace it, this i...

Brand Equity Research: Net Value Score - The Metric For Judging A Company's Success

Introduction – Transcending The Net Promoter Score A golf handicap, an IQ score, someone’s age – we are always looking for simple metrics that tell a story, provide an explanation, or offer...

White Paper: A Practical Guide To Improving Customer Satisfaction

No one would question the importance of keeping customers satisfied. In a small company it is very evident if customers are dissatisfied. People complain directly to the proprietor.  The situation is very different in a ...

White Paper: Getting People to Switch

What does make people switch? What is it that makes someone change their mind or their behaviour? These are crucial questions to any marketer and particularly baffling to the business-to-business...

Article: Winning New Business

In a downturn, you have to adopt the right state of mind, says Renne Botham at Touchstone Growth Running a business is a challenge, like no other. Chances are you spend more time at work than you do at home; you can at times be more in touch with your colleagues than with your friends; and with modern technology, a need to know what is going on when you are not at work, may give you little space for ‘you’ time! Who said it would be easy? And to compound it there is the ‘R’ word! Recession is very real; however, it can also be a mantra for...

Article: Innovate or Die – Create Powerful Customer Insights

We are now over half way through 2011 and hopefully you are reading this with your company having survived one of the deepest recessions in history! However, there has been a lot of talk about the fear of a double-dip recession (one in three Finance Directors believe the economy will fall back into recession, according to the survey of FTSE 100 and 250 companies by Deloitte; July 2011). An evolving market It has always been assumed that marketing expenditure is one of the first things to be cut in the time of a recession and yet...

Case Study: Customer Satisfaction Research

A supplier in the utilities and telecoms market wants to measure the satisfaction of its customers across a range of issues and develop an action plan for improving customer satisfaction.

White Paper: Keeping Your Ear To The Ground - Stakeholder Consultation

Never before has there been such an emphasis placed on understanding the beliefs, attitudes and behaviours of stakeholders for any business or organisation.  Word-of-mouth feedback from those who ...

White Paper: Loyalty - How To Win Devotion From Your Customers

Everybody is talking about loyalty nowadays.  It is not that customer satisfaction has fallen by the ...

White Paper: Beyond Customer Satisfaction

Recently, when preparing for a presentation, Dan was re-reading some material that suddenly struck him in a different way compared with his previous reading of it. Drawing on original USA research...

Customer Satisfaction Surveys & Customer Satisfaction Research

It seems self evident that companies should try to satisfy their customers. Satisfied customers usually return and buy more, they tell other people about their experiences, and they may well pay a premium for the...