Most businesses lose around half of their customers every 5 years. What’s more, attracting a new customer can cost up to twenty times more than retaining an existing customer.
Looking at these two facts, it is not difficult to see why a mere 5% reduction in the rate of customer churn can increase profits by as much as 85%. A customer satisfaction survey and retention research should therefore be an integral part of any company’s activities.
B2B International will speak to your customers and conduct a customer satisfaction survey (and often your competitors’ customers too) to find out their needs – what is it they want from you, and how do they make the purchasing decision? We then explore how well you and your competitors meet these needs, and measure what impact customer satisfaction has on customer loyalty within your industry.
The output of our projects is a detailed action plan consisting of both short-term and long-term recommendations.
We have carried out hundreds of customer satisfaction surveys over the years, allowing us to establish a Customer Satisfaction Index (CSI) portfolio. This allows our Clients to compare their performance against other businesses and industries.
Our proprietary IMPSAT® tool enables easy interrogation of the data, and is particularly useful in surveys which are intended to be repeated with reasonable frequency.
The tool uses customer satisfaction and importance scores to identify the actions required for each issue. In this way, the results can be classified to show what action is required. For example, issues that score high in terms of importance and which have a low level of customer satisfaction should be earmarked for immediate attention. This method of interactive reporting builds ownership of the findings and thereby generates interest in taking action.
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Measure Customer Satisfaction Through Research