Assess Satisfaction to Retain Customers

1. Assess Satisfaction to Retain Customers ASSESS SATISFACTION TO RETAIN CUSTOMERS HOW-TO GUIDE

2. 2 Assess Satisfaction to Retain Customers How-to Guide Assess Satisfaction to Retain Customers Maintaining prices and retaining customers in competitive markets depends heavily on your ability to effectively service your accounts. Proactive organizations work with customers to identify their strengths and weaknesses to better serve their market. Use Demand Metric’s downloadable Customer Satisfaction Survey Template to bench- mark current satisfaction levels and improve these metrics over time. What are the Key Areas to Measure? Buying Process — getting customer feedback on your buying process will help you support sales more effectively, and identify any possible issues. Value Proposition — learning how your value proposition is perceived is critical in determining the effectiveness of your branding and communications strategy. Additionally, reduce risk by identi- fying any customers who are not getting good value for money. Products/Services — gather metrics on the effectiveness and quality of your products to close the Product Development loop. Ask additional qualitative questions that can provide insight into what the market is demanding. Strategic Direction — measure the perception of your customers on your position as a market leader and innovative organization. Use this data to demonstrate how effective you are at communicating corporate strategy. Customer Service and Support — gauge the responsiveness and courtesy of your service department to ensure there are no unhappy customers with outstanding issues who may be at risk. Website/Customer Portal — determine if your website or portal is providing a pleasant experience or if additional resources need to be added. Brand Preference — this area provides an opportunity to bottom-line customers. Find out who are your advocates and who are your dissatisfied customers. HOW-TO GUIDE Ignoring the ‘voice of the customer’ is not how world-class companies operate. To keep retention levels high, define a customer feedback process that provides both quantitative and qualitative results. Bottom Line 2 Assess Satisfaction to Retain Customers How-to Guide Assess Satisfaction to Retain Customers Maintaining prices and retaining customers in competitive markets depends heavily on your ability to effectively service your accounts. Proactive organizations work with customers to identify their strengths and weaknesses to better serve their market. Use Demand Metric’s downloadable Customer Satisfaction Survey Template to bench- mark current satisfaction levels and improve these metrics over time. What are the Key Areas to Measure? Buying Process — getting customer feedback on your buying process will help you support sales more effectively, and identify any possible issues. Value Proposition — learning how your value proposition is perceived is critical in determining the effectiveness of your branding and communications strategy. Additionally, reduce risk by identi- fying any customers who are not getting good value for money. Products/Services — gather metrics on the effectiveness and quality of your products to close the Product Development loop. Ask additional qualitative questions that can provide insight into what the market is demanding. Strategic Direction — measure the perception of your customers on your position as a market leader and innovative organization. Use this data to demonstrate how effective you are at communicating corporate strategy. Customer Service and Support — gauge the responsiveness and courtesy of your service department to ensure there are no unhappy customers with outstanding issues who may be at risk. Website/Customer Portal — determine if your website or portal is providing a pleasant experience or if additional resources need to be added. Brand Preference — this area provides an opportunity to bottom-line customers. Find out who are your advocates and who are your dissatisfied customers. HOW-TO GUIDE Ignoring the ‘voice of the customer’ is not how world-class companies operate. To keep retention levels high, define a customer feedback process that provides both quantitative and qualitative results. Bottom Line

3. 3 Assess Satisfaction to Retain Customers How-to Guide 1 3 Discuss with Senior Management Customize a Survey Action Plan STEP 1 - Discuss with Senior Management 7 Report to Senior Management 6 Gather Results & Analyze 4 Communicate with Staff 2 Determine Timing 5 Distribute to Customers Integrate Feedback8 Table this idea during a management meeting to see if there are any other managers who agree that this type of data would be helpful. In particular, speak with leaders from the Sales, Customer Service, or Professional Services departments. Meeting Agenda Template V I E W R E S O U R C E Impress Management with the Meeting Agenda Template 3 Assess Satisfaction to Retain Customers How-to Guide 1 3 Discuss with Senior Management Customize a Survey Action Plan STEP 1 - Discuss with Senior Management 7 Report to Senior Management 6 Gather Results & Analyze 4 Communicate with Staff 2 Determine Timing 5 Distribute to Customers Integrate Feedback8 Table this idea during a management meeting to see if there are any other managers who agree that this type of data would be helpful. In particular, speak with leaders from the Sales, Customer Service, or Professional Services departments. Meeting Agenda Template V I E W R E S O U R C E Impress Management with the Meeting Agenda Template

4. 4 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 2 - Determine Timing 1 2 Discuss with Senior Management Determine Timing 5 Distribute to Customers 3 Customize a Survey 4 Communicate with Staff 6 Gather Results & Analyze 7 Report to Senior Management Integrate Feedback8 Some industries are seasonal, so make sure that you time your survey initiative appropri- ately. Another alternative is to integrate this survey into your renewal or customer exit processes. Project Plan Template V I E W R E S O U R C E Time to Make It Happen 4 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 2 - Determine Timing 1 2 Discuss with Senior Management Determine Timing 5 Distribute to Customers 3 Customize a Survey 4 Communicate with Staff 6 Gather Results & Analyze 7 Report to Senior Management Integrate Feedback8 Some industries are seasonal, so make sure that you time your survey initiative appropri- ately. Another alternative is to integrate this survey into your renewal or customer exit processes. Project Plan Template V I E W R E S O U R C E Time to Make It Happen

5. 5 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 3 - Customize a Survey 3 Customize a Survey 1 Discuss with Senior Management 2 Determine Timing 4 Communicate with Staff 5 Distribute to Customers 6 Gather Results & Analyze 7 Report to Senior Management Integrate Feedback8 Use Demand Metric’s downloadable Customer Satisfaction Survey Template as a starting point. V I E W R E S O U R C E Customer Satisfaction Survey Template Introducing the Customer Satisfaction Survey Template 5 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 3 - Customize a Survey 3 Customize a Survey 1 Discuss with Senior Management 2 Determine Timing 4 Communicate with Staff 5 Distribute to Customers 6 Gather Results & Analyze 7 Report to Senior Management Integrate Feedback8 Use Demand Metric’s downloadable Customer Satisfaction Survey Template as a starting point. V I E W R E S O U R C E Customer Satisfaction Survey Template Introducing the Customer Satisfaction Survey Template

6. 6 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 4 - Communicate with Staff 4 Communicate with Staff 1 Discuss with Senior Management 2 Determine Timing 3 Customize a Survey 5 Distribute to Customers 6 Gather Results & Analyze 7 Report to Senior Management Integrate Feedback8 Discuss how this initiative will help the busi- ness grow and retain customers. Be sure to communicate how the results of these surveys will be measured and used to iden- tify any performance issues. V I E W R E S O U R C E Calculating Customer Lifetime Value How-To Guide Calculating the Value of Your Customers 6 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 4 - Communicate with Staff 4 Communicate with Staff 1 Discuss with Senior Management 2 Determine Timing 3 Customize a Survey 5 Distribute to Customers 6 Gather Results & Analyze 7 Report to Senior Management Integrate Feedback8 Discuss how this initiative will help the busi- ness grow and retain customers. Be sure to communicate how the results of these surveys will be measured and used to iden- tify any performance issues. V I E W R E S O U R C E Calculating Customer Lifetime Value How-To Guide Calculating the Value of Your Customers

7. 7 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 5 - Distribute to Customers 5 Distribute to Customers 1 Discuss with Senior Management 2 Determine Timing 3 Customize a Survey 4 Communicate with Staff 6 Gather Results & Analyze 7 Report to Senior Management Integrate Feedback8 Once you have decided what the most appropriate timing is for a customer survey, distribute them accordingly. When sending out your survey, speak to the benefits that your customers will see, including better service and support, more valued products, etc. Customer Satisfaction Survey Template V I E W R E S O U R C E Communicate With Your Customers for Ultimate Results 7 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 5 - Distribute to Customers 5 Distribute to Customers 1 Discuss with Senior Management 2 Determine Timing 3 Customize a Survey 4 Communicate with Staff 6 Gather Results & Analyze 7 Report to Senior Management Integrate Feedback8 Once you have decided what the most appropriate timing is for a customer survey, distribute them accordingly. When sending out your survey, speak to the benefits that your customers will see, including better service and support, more valued products, etc. Customer Satisfaction Survey Template V I E W R E S O U R C E Communicate With Your Customers for Ultimate Results

8. 8 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 6 - Gather Results & Analyze 6 Gather Results & Analyze 1 Discuss with Senior Management 2 Determine Timing 3 Customize a Survey 4 Communicate with Staff 5 Distribute to Customers 7 Report to Senior Management Integrate Feedback8 After you have collected the survey results, analyze them to find any flight risk accounts, or other potential issues. Aggregate the data into averages to benchmark your current level of performance, which you can use as a measuring stick for next time. Customer Satisfaction Survey Template V I E W R E S O U R C E Benchmark Your Product/ Service Performance 8 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 6 - Gather Results & Analyze 6 Gather Results & Analyze 1 Discuss with Senior Management 2 Determine Timing 3 Customize a Survey 4 Communicate with Staff 5 Distribute to Customers 7 Report to Senior Management Integrate Feedback8 After you have collected the survey results, analyze them to find any flight risk accounts, or other potential issues. Aggregate the data into averages to benchmark your current level of performance, which you can use as a measuring stick for next time. Customer Satisfaction Survey Template V I E W R E S O U R C E Benchmark Your Product/ Service Performance

9. 9 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 7 - Report to Senior Management 7 8 Report to Senior Management Integrate Feedback88 1 Discuss with Senior Management 2 Determine Timing 3 Customize a Survey 4 Communicate with Staff 5 Distribute to Customers 6 Gather Results & Analyze Compile a report that can be delivered to Senior Management highlighting the key strengths, weaknesses, opportunities, and threats. SWOT Analysis Tool V I E W R E S O U R C E Report to Management with a SWOT Analysis 9 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 7 - Report to Senior Management 7 8 Report to Senior Management Integrate Feedback88 1 Discuss with Senior Management 2 Determine Timing 3 Customize a Survey 4 Communicate with Staff 5 Distribute to Customers 6 Gather Results & Analyze Compile a report that can be delivered to Senior Management highlighting the key strengths, weaknesses, opportunities, and threats. SWOT Analysis Tool V I E W R E S O U R C E Report to Management with a SWOT Analysis

10. . 10 Assess Satisfaction to Retain Customers How-to Guide Action Plan STEP 8 - Integrate Feedback 8 Integrate Feedback 2 Determine Timing 1 Discuss with Senior Management 3 Customize a Survey 4 Communicate with Staff 5 Distribute to Customers 6 Gather Results & Analyze 7 Report to Senior Management Based on your report, have a discussion to prioritize the action items that need be addressed first, and who will take them on. Project Prioritization Tool V I E W R E S O U R C E Organize Actionable Items and Assign Them Out

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