Customer Satisfaction Management Competitive Benchmarking
“The key to the success of your business is held by your customers. Only by understanding them better will you be able to unlock your business’s future potential. ”
Our approach to customer satisfaction measurement and competitive benchmarking is flexible and can be tailored to your needs. We do not have a canned approach, but rather a starting paradigm. We also believe that customer satisfaction measurement should "peel back the layers" to examine the key drivers of customer satisfaction. We incorporate all of the "standard" statistical tools to analyze customer satisfaction including regression/correlation, logistic regression, factor analysis, and discriminant analysis.
While knowing how satisfied your customers are; is valuable information, comprehensive customer satisfaction research at PMRT includes metrics other than satisfaction to develop a complete picture of customer satisfaction. A comprehensive customer satisfaction study includes loyalty measures as well as comprehensive attribute batteries to determine the satisfaction drivers.
Our approach to competitive benchmarking is similar to our approach to customer satisfaction measurement. It is impossible to compare your organization to the competition unless you have an accurate picture of the competition. The competitive benchmarking study can be merged with, or executed with, a customer satisfaction study to develop a picture of the competitive landscape. This allows you to see the competitive strengths and weaknesses of your organization.
Measuring customer satisfaction is only the first step of course. It’s what you do with the findings that will make the real difference. By turning the insight into action, in other words, by making the necessary changes that will improve the satisfaction of your customers your business could benefit from:
- Improved customer retention
- Increased sales as satisfied customers tend to buy more often and a wider range
- Increased control over your customers because you understand your customers better
- More referrals generated from your current customers