Customer Satisfaction Research
It seems obvious that your business should strive for satisfied customers. A high customer satisfaction rating is a strong predictor of positive client retention rates, brand loyalty and product repurchase.
But how do you know where your business stands in the hearts and minds of your consumers?
Successful customer satisfaction research will help you understand what customers like, dislike and feel need improvement about your business. With this valuable information, you can determine how to improve your products or services to meet your customer’s needs.
If you’re looking for a way to stay ahead of your competitors, Taverner’s customer satisfaction research can provide you with the detailed consumer feedback you need to exceed your customer’s expectations.
What is a Customer Satisfaction Research?
Customer satisfaction is defined as a measurement of how happy your customers are with your brand, service, product or capabilities. By using market research tools such as surveys, polls and focus groups, we can gain powerful insights into how satisfied customers are with your brand or business.
How is Customer Satisfaction measured?
Customer satisfaction data is most often gathered from a survey and then tracked on a rating scale that measures changes over time. This will allow you to accurately monitor any changes in your customer satisfaction rating.
Here are some of the most common methods that a customer satisfaction market research company will use to measure customer loyalty and satisfaction:
- CUSTOMER SATISFACTION SCORE (CSAT)
The Customer Satisfaction Score (CSAT) is one of the most straightforward methods of gauging customer satisfaction. CSAT asks your customers to rate their satisfaction on a linear scale – anywhere from 1 – 3, 1 – 5, 1 – 7, or 1 – 10. The result of CSAT is the sum of all positive responses, divided by the total responses collected and then multiplied by 100. The outcome is the overall percentage of people satisfied with your business. - CUSTOMER EFFORT SCORING (CES)
A customer effort scoring is very similar to that of CSAT, but instead of gauging customer satisfaction, it seeks to measure the ease of a customer’s experience. This is still a method of gauging customer satisfaction with the presumption being that the easier an experience is for a customer, the more satisfied they will be.
Why conduct Customer Satisfaction Research?
By proactively measuring your customers’ satisfaction with your product or services, you can catch small problems before they transform into massive issues.
Some of the benefits of customer satisfaction research include:
- Make informed decisions – By having accurate, reliable and consistent customer satisfaction feedback, you can make informed decisions about changes to your business.
- Improve customer retention – Unhappy customers simply take their business somewhere else. Customer satisfaction research can help gauge brand loyalty while providing you with the data you need to increase the number of customers that stick with your brand.
- Increasing your revenue – Customers typically pay premiums for a good customer service experience. Learning how you can meet your customers’ expectations can lead to more revenue for your business.
- Know what’s working – Accurate customer satisfaction data will provide tangible results on what’s working for your business… and what isn’t. For instance, you might believe a product isn’t bringing in enough revenue due to tight margins. Customer service research might reveal that the product is a loss leader that’s actually generating additional revenue.
- Track progress over time – By conducting regular customer satisfaction research you can benchmark your performance and accurately track whether your decisions are having their desired effect.
How Can Taverner Help?
Customer satisfaction research is simply a must in today’s highly competitive market. The data such research provides can offer you an accurate picture of the impact your products and services are leaving on your customer base.
For over 25 years, Taverner has been the trusted consultant of choice for many leading organisations within Australia and New Zealand. We customise each of our customer research studies to your specific brand and business context. This ensures we’re always measuring the data that is most meaningful to you.
This is where we can help. Taverner Research is a fully independent, full-service Australian-owned company and we have been conducting high-quality market and social research since 1995. We have national coverage including all main capital cities plus regional NSW coverage.
Our customer research services can track the performance of your brand and other market players against key customer satisfaction metrics. We offer far more than just data and analytics. We provide context, comparisons and actionable insight that can help you retain existing customers and lead to new ones.
To learn how our customer satisfaction research services can help you gain the powerful insights you need to grow your business, contact us below.
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