Customer satisfaction, customer loyalty and customer retention
Under today´s competitive conditions, customer satisfaction or positively experienced service no longer inevitably generates customer retention. Nevertheless, these experiences very often exercise a high effect even in comparison to prices.
Objective:
The objective of customer satisfaction studies is to identify the relevant performance attributes above and beyond the strength and weakness analysis and make targeted use of these for lasting customer retention.
In addition to classic instruments, Psyma employs additional satisfaction and customer retention instruments. One special CS-tool is the customer satisfaction according to the Kano Model: this model differentiates between customer satisfaction and customer retention, takes expectations into account and works at the individual level.
Core of the model: Customer retention and/ or satisfaction results from the reduction of dissatisfaction (= fulfilling of "hygiene" factors) and the buildup of enthusiasm (= fulfilling of "delight" attributes)!
Result:
- Determination of customer satisfaction (e.g. regarding product, service, price) and its drivers
- Easier implementation of segment-specific customer retention programs
- Short-term increase of important target values; e.g. sales, market share, price-performance ratio, etc.
- Targeted definition of a short and mid-term strategy plan (definition of priorities) through ranking of the performance attributes; for example according to need for action/ size of customer segments/ return on investment
