Every company’s most critical assets are their customers, and no company can afford to disregard the importance of customer satisfaction and loyalty. Partly due to steeply expensive advertising and promotional costs, acquiring a new customer can cost up to four or five times more than keeping a current customer*. At the same time, the profit margin is much greater from a loyal customer who continually shops with you versus those occasional customers who cherry pick your sales and promotions. Do your customers spend with you because they have an emotional connection to your company, or would they switch to the competition as soon as a promotion or a new competitor was introduced?
It is estimated that 76% of all Americans talk about at least one brand a day*, and a study conducted by Northeastern University found that 15% of all conversations in America include something about a product or service. Furthermore, 91% of consumers regularly or occasionally seek advice about products and services before making a purchase*. What are your customers saying about your company? Are you leaving positive enough impressions on your customers to encourage active recommendations to others?
To win in today’s competitive market, your company must ensure that more of your customers are loyal, emotionally engaged customers who not only continue to spend with you, but who also generate income by advocating your company to others. At the same time, you cannot afford to give customers everything they want. In order to maximize profitability, you need to understand which company improvements will make the greatest impact on increasing customer loyalty and which improvements are unwarranted. BestMark can provide you with the critical information you need and help you make these challenging business decisions.
Our customer web surveys are designed to capture your customers’ rational and emotional feelings towards your products and services and your company as a whole. By using regression analysis and other data mining techniques, we will pinpoint the key drivers of overall customer satisfaction and loyalty, which will enable your organization to prioritize decision-making and make confident investment choices.
Using over 27 years of survey-writing expertise, BestMark will create a web survey that uncovers the information you need to know:
Typically, the invitation to a web survey is placed on customer receipts, but other invitation methodologies can also be used (such as emails or handing out cards in your stores). We will help you determine the most effective methodology and sample size for your specific needs.
Too many companies have made the mistake of gathering customer feedback and then finding that they have an overwhelming amount of data that they aren’t sure how to use. Through statistical analysis, we will determine which improvements will give you the greatest return on investment through increased customer loyalty and profitability. With GuestLink, BestMark’s proprietary web-based reporting system, customer-facing managers and all levels of the organization will have immediate and continuous access to this prioritized customer feedback, enabling them to act quickly and confidently. GuestLink also offers the ability for managers to dynamically create ad hoc reports on the fly and update customized "Action Plans" based on their individual areas of opportunity.
By continually surveying your customers, your action plans will be regularly measured and updated. For those areas where customer feedback cannot provide the exact information you need, we offer an array of additional services and solutions. For example, mystery shops can measure how well your customer-facing employees are adhering to sales training, compliance audits can enforce essential foundational elements such as correct product placement and accurate pricing, and customer intercept interviews can provide insight into why customers are leaving your locations without buying. We will customize an integrated suite of solutions that will provide the holistic view you need and empower your organization to drive customer delight and limitless profitability.
Contact Us to learn more about how BestMark can unlock your company’s potential for ever-increasing success.
1. Acquiring a new customer can cost up to four or five times more than keeping a current customer. Source: C. Denove, C. & Power, J.D. IV (2006). Satisfaction: How Every Great Company Listens to the Voice of the Customer. New York: Penguin Group (USA) Inc.
2. It is estimated that 76% of all Americans talk about at least one brand a day. Source: TalkTrackTM, Keller Fay Group, 2006. http://www.kellerfay.com
3. 91% of consumers regularly or occasionally seek advice about products and services before making a purchase. Source: BIGresearch, 2007. http://www.bigresearch.com