Acquiring new customers is costlier than retaining existing customers and customer retention is key to minimizing customer churn.
If customers are churning faster than a business can acquire new customers, the business will eventually fail.
The underlying principle for retaining customers is keeping them satisfied by meeting or exceeding their expectations.
But how do I measure if my products and services are meeting their expectation?
How can I identify the part of my product that my customers are dissatisfied with?
How can I get my customers to champion my products to their friends and family?
Customer Satisfaction Research can answer these questions by surveying your customers to gauge their level of brand loyalty, and repurchase intention. Metrics used to measure customer satisfaction includes Net Promoter Score (NPS), Brand Perception and Brand Equity.
Customer Satisfaction Research can also include Mystery Shopping to pinpoint the cause of customer dissatisfaction and measure the quality of services provided by your employees.
With these insights, you can reduce customer attrition, generate organic growth and increase your profit margin.
Segment your customers by Promoters (customers who actively recommends your brand), Passive and Detractors (customers who spreads bad word of mouth about your brand).
Identify the product traits that your customers are dissatisfied with.
Measure your staff’s quality of service, product knowledge, skills and motivation to promote/upsell product.
Measure the willingness of a customer to pay a premium for your brand’s product to maximize your profit margin.
Vodus can help you survey your customers from your own database or our Vodus Media Network that has a combined sampling reach of 17 million Malaysians.
Contact us through the form below to learn more about how we can help you improve your overall customer experience, retain your customers, and grow your business.