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Term: Customer Satisfaction
4 post(s) found

Grow Your Business by Strategically Improving Customer Advocacy
(Part 4 of 4 – Customer Satisfaction Series)

Sep 19 2016
12
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Since being introduced in Frederick Reichheld’s article “The One Number You Need to Grow”, the concept of measuring customer loyalty through a single question survey has become a common practice among many B2B companies.  The power of this single metric, “Net-Promoter Score” (NPS), is built on the concept that “word of mouth” is a strong driver of growth.  According to Reichheld, “research shows a strong correlation between a company’s growth rate and the percentage of its customers who are “promoters” – that is, those who state they are extremely likely to recommend the company to a friend or colleague. The Net-Promoter Score (Figure 1) is calculated by subtracting the percentage of customers who say they are unlikely to recommend from the percentage who say they are extremely likely to do so.”  

 

Customer Satisfaction – Measuring Competitive Position
(Part 3 of 4 – Customer Satisfaction Series)

Aug 24 2016
10
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In our previous correspondence, we discussed the value in having increased knowledge of your current customer base by understanding two of the four dimensions of customer satisfaction. Knowing how well your products and services align with your customers current and future requirements helps focus a large portion of your growth strategy. The third dimension of meaningful customer satisfaction research, competitive position, provides a clear picture of your performance against competition. 

Customer Satisfaction – Measuring Performance and Importance
(Part 2 of 4 – Customer Satisfaction Series)

Jul 21 2016
11
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Many companies rely on internal salespeople and marketers for insight into their customers. While helpful, customers reveal limited information to someone pursuing their business. Externally focused customer satisfaction studies are highly valuable, as they provide an in-depth customer needs assessment that evaluates your performance and value against customer requirements to determine alignment as well as identify performance gaps. 

Using Customer Satisfaction Research to Grow Top Line Revenue
(Part 1 of 4 – Customer Satisfaction Series)

Jul 07 2016
21
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If you are looking for growth opportunities, increasing share with existing customers is usually the fastest and lowest risk growth option available. Properly designed customer satisfaction research delivers the critical pieces of information needed to develop a winning revenue growth strategy: the product and service attributes most important to your customers, your performance on each attribute, your competitive position relative to each attribute, and the critical few attributes that drive your customers to recommend your business to other potential customers.

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