Why Is Customer Satisfaction And Customer Loyalty Research Important?

The goal of Optimize Data Analytics’s Customer Experience Optimization is to help companies maximize long-term profitability through reaping the “lifetime value” of its customers. The goal is not to maximize customer satisfaction or customer loyalty, but to optimize customer satisfaction and customer loyalty.

Qualitative Investigations

Helpful in determining strengths and weaknesses of corporate customer satisfaction and customer loyalty programs, qualitative research is usually an introductory step in developing an integrated customer satisfaction and loyalty program.

Our qualitative experts conduct in-depth motivational research interviews with both employees and customers to develop a deep understanding of the factors and dynamics involved in customer satisfaction. Hypotheses about how to improve customer satisfaction and loyalty are derived from this motivational research.

Tracking Studies

Studies repeated at specified intervals give organizations a history of information about customer or employee satisfaction, revealing trends in both satisfaction and loyalty. Tracking studies are especially useful in determining and monitoring key variables that influence satisfaction and loyalty—which in turn can influence company profitability. Tracking studies may be conducted using any of the following methods:

• Telephone
• Mail
• Internet
• Interactive voice-response systems

Transaction Monitoring (POS)

These studies provide measurement of customer satisfaction at different points of customer contact. For example, customers who call a customer care center might complete a satisfaction survey soon after their call-center experience. Other customers who purchase a product in a retail operation might receive a POS invitation to complete a questionnaire requesting information on that experience.

Transaction monitoring focuses on increasing customer satisfaction at particular stages or in specific places. Such a micro-examination of customer experiences allows companies to improve customer satisfaction through streamlining processes and reducing customer problems at specific stages or points. Transaction monitoring may be conducted using any of the following methods:

• Telephone
• Mail
• Internet
• Interactive voice response systems

Exception Systems

The exception-system concept offers an economical way to monitor quality, systems, and processes. Customers are encouraged to “cry out” if they experience a problem or are unhappy for any reason. Happy customers are largely ignored in this approach. By tracking those who are unhappy enough to respond in some way, overall trends and patterns of dissatisfaction can be inferred and tracked. Problem areas are pinpointed for remedial actions. Exception systems may use any of the following methods:

• On-package or in-package invitations
• Interactive voice-response systems
• Quality-assurance panels
• Comment cards
• Online systems

Customer Value Analysis

What is the lifetime value of different groups and types of customers? How can you focus more resources on the most profitable customers, and fewer resources on the least profitable? In-depth analyses of customer records and purchasing patterns, plus extensive survey research, are components of a comprehensive customer-value analysis.

Marketing Integration

Customer satisfaction is determined not only by the quality of a company’s service and products, but also by its positioning, branding, advertising, promotions, pricing, etc. Optimize Data Analytics strives to integrate all of these elements to truly optimize customer satisfaction and loyalty. Importantly, the goal of these analyses is not simply to maximize customer satisfaction, but rather, to optimize it. The ultimate goal is to maximize strategic profitability. Customer satisfaction and loyalty are components in the strategic equation, but are not the only important variables.

Employee Satisfaction

Employee-satisfaction evaluation and measurement are crucial parts of corporate satisfaction and loyalty programs. Employees are the contact points between the corporate brand and customers. Dissatisfied employees often lead to dissatisfied customers. Employee satisfaction can help improve long-term profitability in four ways:

• Happy employees tend to do higher-quality work.
• Happy employees tend to be more productive.
• Happy employees are more likely to stay with your company.
• Happy employees tend to create happy customers

Dealer Satisfaction Research

Among automotive OEMs, managing expectations of new vehicle dealers is a critical component in optimizing business relationships and managing long-term profitability. Satisfaction with financing, service promotion, parts delivery, and product issues are some of the essential types of information required to effectively manage dealer relations. We use both qualitative and quantitative techniques to help OEMs diagnose problems and track satisfaction among their dealer body.

Open-End Coding of Customer and Employee Satisfaction Studies

Verbatim coding is not just for questionnaires; CRM systems, customer feedback systems, customer records, transactions (POS) surveys, competitive websites, etc., can also create verbatim text to code and analyze. Optimize Data Analytics Coders have experience with different types of research surveys and customer feedback systems. Optimize Data Analytics codes in more than 30 different languages.