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Customer Satisfaction Research
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. Just a 5% reduction in the customer defection rate can increase profits by 25% to 85%, depending on the industry. You therefore need to know what makes buyers and specifiers choose one supplier rather than another. On your behalf we need to ask the right questions and devise techniques to obtain the right answers.
Our customer satisfaction programme is designed to help you win and maintain customers for life. After all, satisfaction usually leads to a customer returning and buying more, they in turn tell other people about their experiences, and they may well pay a premium for the privilege of doing business with a supplier they trust.
Whilst the purpose of customer satisfaction research is to improve customer satisfaction, so often surveys sit collecting dust. Worse than that, customers have generously given their time to assist in the survey believing that some positive action will take place. Their expectations will have been raised. The process of collecting the data can seem easier than taking action to improve satisfaction levels.
In any customer loyalty research there will be quick fixes – actions that can be taken today or tomorrow that will have immediate effect. In the longer term, cultural changes may well be required to improve customer satisfaction and customer loyalty, and that is more difficult.
A third of all research carried out at B2B International is customer satisfaction research. Over the years we have conducted hundreds of customer satisfaction surveys leading to
a Customer Satisfaction Index (CSI) portfolio. This enables comparisons with other industries to be made and proves useful
in benchmarking our clients for improvement in the future.
To learn more about how B2B International can help you to better understand lapsed customers and retain more, satisfied customers, contact our Customer Satisfaction Research Team.
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"All was very interesting. The case studies were very helpful, otherwise it can be quite easy to just sit and listen all day. It was interesting to share experiences with other industries. " - BASF PLC |
