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September 2008
In this month's issue:
- Rescue plan. so what?®
- Best Practices: Using customer satisfaction to guide business adjustments
- We know people. so what?®
- LRW Sightings
Rescue plan. so what?®The pending rescue of the financial markets remains top-of-mind, but what about your company’s own rescue plan? The swing of the marketplace may mean you will have to rethink your resource planning, reconfigure your product offering, or reduce your staff. How will these changes affect your customers? From where we sit, through all the ups and downs, keeping in mind what truly matters to the people who buy your product is critical when your rescue plan goes up for a vote.
Best Practices: Using customer satisfaction to guide business adjustmentsToo often companies miss out on the full value of customer satisfaction research by letting it exist as a mere report card for past performance. We believe CSAT research programs can inform decisions on resource allocation and front-line execution.
Keep CSAT scores at goal levels.
Customer satisfaction scores serve as a leading indicator, so if your scores begin to sag expect to see financial performance decline in the near future. Of course, customer satisfaction scores are only one of the factors driving financial performance so ensure you can isolate the effects of CSAT to set goal levels.
Don’t let your rescue plan sink your customers’ satisfaction.
When considering alternative strategies and tactics to deal with a turbulent marketplace, make sure your plan preserves the most important aspects of customer satisfaction. Identify the experiences your customers have in your stores, with your product and with your sales team that directly drive loyalty and increase spending for your business. Then be sure to avoid proposed cuts in these areas.
Merge customer satisfaction data with other data sets to inform resource allocation.
Customer satisfaction data, when linked with other data sets from your organization, can provide a wealth of information about how to optimize and streamline operations in areas such as staff levels, tenure, or store design.
We know people. so what?®
Our friends at DYG have completed their much-anticipated report detailing how the changing economic landscape is affecting consumer values. The in-depth report includes shifts in values, beliefs, and attitudes as well as trends, themes and hot buttons.
For more information on how to obtain the full DYG report, please contact us.
LRW Sightings
Wherever we go, so what?® helps us deliver the answers that keep your business on track. Here are two upcoming events where we'll be showing how a simple question helps us turn insight into impact.
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