Feeds:
Posts
Comments

Archive for the ‘Market Research Tips’ Category

The following post was written by Tal Gordon, Intern at RMS.

The market research industry is flooded with an abundance of phrases and lingo that is commonly used between businesses, employers, and clients. The use of acronyms in particular has gained in popularity, thanks largely due to the prevalence of social media usage, but also in an effort to become more efficient. We have put together a brief list of market research acronyms to provide more insight into the most commonly used terms.

NPS – Net Promoter Score

The NPS measures consumer loyalty pertaining to a particular product or service.  The range for a NPS can be between -100 to +100. NPS is frequently used as a benchmark to compare an organization’s performance to competitors or an industry as a whole.

VOC – Voice of the Customer

VOC is a frequently used term to describe a research process which determines the customer’s needs, desires and preferences. Popularity in VOC research has grown exponentially recently, as organizations learn the value of research in shaping the successful delivery of a product or service that fits the customer’s requirements.

CX – Customer Experience

CX research helps identify the perceptions that customers have regarding the purchase cycle of the product/service sold by a business. Understanding the needs of the customer through CX research is vital to improving delivery of services and ultimately increasing customer satisfaction and loyalty.

B2B – Business to Business

B2B is a term used to describe the transactional process one business has with another business.  This is different than business to consumer (B2C) relationships, where a business is selling a good or service that is targeted at consumers rather than business entities.

IDI – In-Depth Interview

The term IDI is used when referring to research interviews conducted to garner in-depth perceptions on a certain idea, situation, or set of circumstances. In-depth interviews are another facet in a market researcher’s arsenal to further gather detailed qualitative data from the consumers.

CATI – Computer-Assisted Telephone Interview

CATI research is a survey method where the telephone interviewer follows a pre-determined script verbatim when collecting data. This technique provides a more structured interview to aid the interviewer, while also maintaining consistency in data collection.

UX – User Experience

UX is referred to when describing the customer’s experience while utilizing a particular product or service. UX research focuses on improving usability, accessibility, as well as enhancing the overall user experience.

MRX – Market Research Exchange

Market Research Exchange is a social media hashtag (#MRX) used by organizations or individuals interested in participating in online discussions related to marketing research, or organizations promoting market research opportunities.

RMS is a full-service market research firm located in Syracuse, NY. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422.

Read Full Post »

The following post was written by Mark Dengler, President at RMS.

In the market research world, the voice of the customer (VoC) is key to understanding and managing customer experiences as well as enhancing product/service design. You should always be listening to your customers and what they are saying, whether it be directly to your organization’s staff, indirectly through consumer review websites, or social media. The vast majority of all companies primarily compete based upon customer experience. Therefore, listening to your customers is vital to a company’s long term growth and success. Customer interests, wants and needs are constantly changing. By doing VoC research, your organization can stay abreast of ever changing customer preferences. Unfortunately, actual customer feedback data is used only a small percentage of times when making a decision that affects them. As a recent article I read stated, “If you don’t understand customer market perceptions or how interactions with your firm are being experienced by your customers, it’s nearly impossible to regularly meet, much less exceed, customer expectations or to improve your organization’s performance (Michael Hinshaw, CEO, McorpCX).” And that really is what we’re all looking for—long-term customer relationships earned by exceeding their expectations.

Findings obtained from VoC work will keep your organization competitive, driving product/service enhancements. Actual VoC work should incorporate both qualitative and quantitative research techniques. It should be ongoing, and results should be thoroughly reviewed by management staff. The information obtained should capture information tied to identifying customer needs, expectations, loyalty, and usage intentions. Moreover, it allows for organizations to develop customized marketing strategies that can be used in targeted campaigns. We now live in an age of one-to-one marketing versus one-to-many marketing strategies (one size fits all). It is important to note that VoC is not customer satisfaction research. VoC focuses on learning and assessing customer expectations, whereas customer satisfaction aims at measuring customer experience. Both activities are vitally important and provide organizations with valuable information. Finally, be sure to look at all sources available to “listen to your customer.” This includes regular debriefs with the sales force team, the customer service department and/or anyone else along your distribution chain who has a direct touch point with the customer. With the rapid growth of social media, customer feedback should be regularly monitored. In today’s fast paced marketplace, “hearing voices” is often a very good trait, particularly when it’s your customers’ voices. Listening to and acting upon these voices is what is ultimately going to help set your company apart from its competition. The need to implement a VoC strategy is vital for your organization’s long term success.

RMS is a full-service market research firm. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at RMSresults.com.

Read Full Post »

An intercept survey is a research method used to gather on-site feedback from an audience. Intercept surveys are often used at events, restaurants, conferences, and in shopping malls to collect patron perception information. During an intercept survey, the interviewer may approach a patron to ask about their experience at the event, facility or restaurant. Results from the intercept surveys allow the client organization to obtain feedback from their target audience while the information is still fresh in their minds. Below are three tips when preparing for an intercept survey project.

concessions-stand

Keep It Short

Intercept survey respondents are typically “on-the-go.” They may be going to purchase something at a concession stand during halftime, or leaving the facility after the event. To ensure the research company and end client is represented in a positive fashion, it’s important for the intercept survey to be short. At RMS, whenever possible we try to ensure the intercept survey is around 5 minutes or less. A great market research firm will be knowledgeable in survey creation techniques and constructing creative questions in order to obtain the maximum amount of information in a short amount of time.

Be Flexible

Depending upon the respondent’s comfort level with technology, the interviewer may complete the survey for the respondent, or provide them with a tablet to complete on their own. It’s important for interviewers to be equipped with the proper equipment when conducting intercept surveys. In our experience, tablets work best, and allow the interviewer to adapt to the survey environment. For example, we’ve learned that in a stadium, Wi-Fi reception may be spotty and our interviewers need to be equipped with wireless hot spots to ensure they have access to the internet in order to connect to the digital survey. To make sure we are always flexible with our environment, we also have an offline survey option which allows our interviewers to collect survey responses without needing the internet to save them.

Make it Worth Their While

Over the years we have found that even a small incentive has a positive impact on the intercept survey response rate. The bottom line is – make it worth their while. It doesn’t need to be expensive. We have had great success in offering rewards such as a $2.50 coffee shop gift card, credits for a free movie rental or Amazon purchase, or a coupon for a free drink or food item at the venue where the surveys are being conducted. When providing an incentive, it’s also important to consider the timing of the intercept survey as it relates to the incentive. For example, if you’re distributing a coupon for a free beverage at a football stadium, it would be best to conduct the intercept interviews around halftime rather than the end of the game. Enough time will have passed for patrons to provide their perception of the stadium and facilities, while also ensuring they still have time to use their free beverage coupon.

RMS is a full-service market research firm with a long history of conducting intercept surveys in a wide array of settings. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.

Read Full Post »

The following post was written by Mark Dengler, President at RMS.

dog (2)

As summer starts to wind down, I trust that folks are enjoying the sunny and hot weather. However, don’t be fooled by these hazy days. Companies can’t afford to be lazy. Summer is actually an excellent time to work on relationship marketing strategies with existing and prospective customers. It is an opportunity to reach out and touch base with key contacts and connections.

“Relationship Marketing” is a marketing approach that focuses on building strong customer relationships and long term engagement. It is often associated with customer loyalty program development, but can prove very effective in prospecting and enhancing brand awareness. It is built upon communication strategies that encourage two-way interaction and engagement. Obviously, it is critical to be utilizing relationship marketing strategies throughout the entire year, however the summer is a particularly good time to connect with folks. For many, this popular vacation season slows the deadline-focused intensity in companies, and people are more willing to interact.

Over the next couple of weeks, it makes sense to consider implementing the following key marketing strategies to better position your organization for a strong fourth quarter and building strong relationships:

  1. Identify your top customers and make a personal inquiry as to their needs and satisfaction with your product/service. Your senior leadership should be involved with this activity. Simply by asking for customer feedback, you demonstrate to customers their value.
  2. Mystery Shop your organization. It was Maya Angelou who said “people may forget what is said or done, but they never forget how you made them feel.” This quote embodies the heart of customer relations. Companies need to look at their own processes from this perspective, making sure that customers and prospects have a positive interaction experience.
  3. Examine your “listening posts.” What are the ways that customers and prospects inform you of their needs and experiences? Do you have listening posts? Are these being used? Now may be the perfect time to enhance your tools of interaction. Refresh your website capabilities. Implement a customer survey. Conduct some key research in-depth interviews. Find effective ways to “listen” to your customers and prospects so that you can continue to meet their needs.
  4. Focus on informing rather than promoting. Companies that look to position themselves as knowledgeable experts in a particular area are able to build market followers. These followers include both customer and prospects. Establish your organization as a go to source for information. Look to offer free resources such as white papers, webinars, and podcasts.
  5. Optimize social media to depict your organization’s culture and values. In building relationships, people want to affiliate with those that are most like them, hence the term homophily. This is true with organization affiliation as well. Companies need to promote their culture, values and beliefs to help brand themselves. It serves as a means for individuals to identify and affiliate with. With evermore competition, this approach is a way to differentiate your organization and foster strong relationships.

Summer is definitely a great time to enhance your relationship marketing with customers and prospects. And it never hurts to take advantage of the sunny weather in the meantime.

Research & Marketing Strategies (RMS) is a full service marketing and market research firm located in Baldwinsville, NY. RMS provides an array of research methodologies that result in actionable analytics and recommendations for the client to enhance decision making. RMS is also home to QualiSight, a premier focus group and interview research facility, and RMS ViewPoint, a leading consumer research panel in Central New York. Visit our website at RMSresults.com.

Read Full Post »

The following post was written by Maggy Stewart, Graphic Designer and Marketing Coordinator at RMS.

millennial (2)

It’s a common question, we hear it all the time from clients: how do we market to (and actually captivate) millennials – the now largest generation in the U.S. workforce? Stumble upon any informative, well known business website today and you’re bound to see an article dissecting the new “It” generation: the millennials. According to Time Magazine, the notorious generation has finally taken over the American labor force, and is expected to surpass the Baby Boomers as the largest living generation in the United States. And with such a large target (75.4 million people, according to Pew Research), marketers figured they couldn’t miss. But as more and more millennials came into the market with impressive (and unnoticed) purchasing power, marketers struggled even more to understand them. But why the disconnect? A lot of brands out there are continuing to sell the traditional “get married, buy a house, start a family” agenda, because that’s what older generations based a lot of their spending upon. Those tactics aren’t hooking millennials, and that’s an issue because millennials are buying, they just buy differently than marketers are familiar with.

Not only are millennials’ spending habits different, but they’re so offbeat from previous generations’ that they’re completely misunderstood. This is mainly because they’re approaching adulthood in a contrasting way when compared to their older counterparts. So why the sudden shift? One reason is the economy and the scars left behind following the recession. Milestones of adulthood—purchasing a home, tying the knot, having children—are simply not as feasible anymore, hence the delay. In addition to the economic issues, millennials grew up in a truly evolving world where options for anything were endless, in turn paving the avenues for many “adulting” alternatives. Brand strategists and marketers need to consider the fact that this powerful generation was raised in a world of choice—some moved out of mom and dad’s years ago, but became adults based on their own terms, not tradition. This is the largest population to date and some of them just graduated high school. “Brands need to stop waiting for millennials to ‘grow up’ and fall in line with what past generations have done. A lot of them already have; it just looks different than it did in the past. Brands and marketers need to shift and adapt to this reality, instead of waiting for one that won’t come true,” warns Patrick Spenner, a Forbes Contributor.

So what’s a brand strategist to do? For starters, acknowledge their lifestyles and figure out how to “amplify their reality,” writes Spenner. Market the values that drive them, not the ones that deter them: focus on social groups, not life stages. You also need to consider the medium to which you’re trying to reach them. Eighty-five percent of millennials own smartphones (according to Entrepreneur), so naturally your most aggressive marketing strategy should come from a mobile platform. Optimize your landing pages, improve your loading times, be blunt with your call to action, and then get creative. And finally, you need to be engaging. Ninety-five percent of millennials cite friends as the most trusted source of product information (according to Entrepreneur). Build a customer base of brand evangelists and you’ll see your notoriety skyrocket more than it ever did with a print ad or Facebook post. “The best way to get your message heard among millennials is to have millennials themselves spreading the word,” writes Sujan Patel, Entrepreneur contributor. As a takeaway, consider these as preemptive tactics; even if millennials aren’t part of your target audience right now, they will be soon. Very soon. Adapt now, or forever hold your peace.

RMS is a full-service market research firm located in Syracuse, NY. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.

Read Full Post »

What does market research have in common with Election 2016? Besides the fact that we all are very passionate about our work, have great hair, and want our work to have a positive impact, market research professionals must often overcome similar obstacles to those the candidates are facing in this year’s Presidential election. More commonalities are included below.

america

  • It can be a hard sell

At this point, I’m sure most of us are at least somewhat familiar with the contentious nature of the campaign and the issues debated among the 2016 Presidential candidates. We won’t talk about those issues here, but as market researchers, we can relate to the difficulty in marketing a service (or in their case, their campaign). Over the years, we’ve learned that not everyone willingly jumps on the market research train. An individual or company may be obligated to conduct market research for a myriad of reasons, including to obtain funding or to get an idea passed through an administrative team. While many of the clients we work with understand the value that market research provides, that is not always the case. We rely on a hard-working and extremely talented team of business development associates and researchers to provide prospective and current clients with an outstanding research experience. In fact, we’re so passionate about our work that it shows through our delivered work products, and has resulted in a large amount of our business stemming from repeat clients. It’s clear that the 2016 Presidential candidates have faced the same hurdle, with “indecision” being a popular voter topic discussed in the media. With such a division in the voting pool, perhaps the Presidential campaign staff could benefit from a market research approach to branding – demonstrate the benefits of your service to those who think they need it the least.

  • People either love it or leave it

This is perhaps the most direct similarity between market research and Election 2016. It’s no secret that the voters have very strong opinions about the 2016 Presidential candidates. It seems the media is frequently reporting on a rally in support of a candidate or protest that has resulted in a less than optimal outcome. Luckily, market research is not quite as dramatic, but we do find that people typically love or leave market research. We’re fortunate that many of our clients enjoy conducting market research because they have benefited from prior projects, and we’re typically able to convert the skeptics into supporters after one great experience. This is often directly tied to the reason market research can be a hard sell –the skeptics don’t initially see the value in market research and do not want to conduct it. There’s nothing more rewarding than providing a person who was initially skeptical with an outstanding experience that convinces them to embrace future market research initiatives.

  • We need each other

Elections rely on market research polling to help identify which issues are important, the impact of candidate qualities on voting behavior, and the extent to which voters support policy changes. The polls are a measure of a candidate’s likelihood to secure the vote, and influence campaign activity. In return, the market research industry gains access to individuals who may otherwise not participate in market research, and has an opportunity to provide a positive research experience that may lead them to participate in future research initiatives. Having a strong network of participants is critical to any research initiative, and it can be an expensive component to a project. To overcome that obstacle, RMS has curated an engaged research panel (RMS ViewPoint) that consists of community members from across the country that have opted in to participate in research conducted through RMS. This leads to a substantial savings for our clients, by providing them with a sample that is representative of the U.S. population, at a fraction of the cost that a standard sample house would charge.

RMS is a full-service market research firm located in Syracuse, NY. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.

Read Full Post »

The following post was co-written with Hilary Ranucci, Business Development Coordinator at RMS.

blog-market-research-school-district

Colleges and Universities are no stranger to market research, but we’ve noticed an uptick in K-12 school districts seeking market research services. To make the most informed decisions about your school district, you should have a strong understanding of your community, both past and present. Below are some common market research projects that school districts will benefit from the most.

Community Awareness Studies
The best way to gauge the perception of your district is to reach out to the very community that it is serving. Surveys can be conducted via mail, telephone, or online to capture a large volume of quantitative data, while focus groups will add a qualitative component to the research. Information gained from community awareness studies can include indicators of quality within a district (strengths), unique attributes, the school district image, and overall value ratings in curriculum content areas.

Graduate Surveys
Speaking to past students will provide the school district with a wealth of satisfaction information. Graduate surveys are typically conducted online or via phone, and questions are aimed at learning how satisfied graduates were with their education and how well-prepared they were for their post-graduation plans. Data gathered from the surveys will allow the district to determine which programs, content, or classes may need to be improved, and identify those are providing the most value. A knowledgeable market research vendor will help your school district determine how far back in the graduate database you will need to go when surveying to answer your research questions. Our clients have also found that graduate surveys are useful for creating and/or keeping an alumni base engaged for future initiatives.

Parent Surveys or Interviews
Parents are becoming increasingly interested and involved in the education their child(ren) receive. As a key community stakeholder, this demographic can provide valuable insight. Surveys can be conducted online or via phone, and interviews may take place in person or via phone. Survey questions should identify satisfaction with education policy, curriculum/programs, communication from the school district, and overall satisfaction with the services provided by the school district. Trending topics that we are also seeing become more prevalent in parent surveys include learning about perceived school safety, scheduling, and budget. Your market research consultant should work with you to determine the appropriate method to reach your parent audience, and which questions will produce the most valuable insight.

Employee Satisfaction Surveys
Employee satisfaction surveys are not limited to the business world. Like any other business operation, school districts should look internally for areas of opportunity. Staff immersed in the daily operation of school district will provide important insight into the perception and satisfaction with the school district as a workplace. We’ve noticed there is a direct link between strong employee engagement and organizational success. Online employee surveys are a powerful means to measure employee satisfaction and engagement. Perhaps most importantly, employee satisfaction surveys give the employees an anonymous outlet to note the aspects of their job and workplace that are most enjoyable, and identify areas of opportunity that would make them more engaged and loyal. Survey questions should focus on identifying areas where the school district is excelling and where they should improve, as well as finding ways to motivate employees. An important component to the employee satisfaction surveying process is the use of the data by school district. Once employees have voiced their opinion, it is important to let them know how the school district plans to use the feedback to improve their working experience.

RMS has worked with many school districts and conducted the studies outlined above. If you are interested in learning more about our research capabilities, please contact Sandy Baker, our Senior Director of Business Development and Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.

Read Full Post »

The following post was written by Zach Shaw, Panel Coordinator at RMS.

blog why participate in panel-01

One of the most frequently asked questions we hear at RMS is, “How does signing up for a research panel benefit me?” Many people don’t realize how much surveys, focus groups, and secret shoppers impact the services and products we use in our everyday lives. It’s common for companies to use market research before releasing their service or product to gain a better perspective on what their consumer’s need, in turn allowing the company  to tailor goods and services which results in a better service or product for the customer. When joining a research panel, you are directly influencing the decisions of local, regional, and even global businesses to create better services and products. Below is more information on what you can expect from different research opportunities offered by the RMS ViewPoint Research Panel.

Surveys

RMS ViewPoint members who participate in surveys are typically sent an online questionnaire via email. These questionnaires are designed to be quick and easy to complete. Once we receive enough survey completions, our team then reviews the data and transforms it into useable information for the client. Our clients are often interested in learning the full overview of the consumers: who is their target audience (age, gender, location, race, etc.), why they purchase a particular product or service, how they got interested in that product or service, what other products and services they buy from competitors, and where they heard about the product or service. When our RMS ViewPoint members complete these questionnaires, it helps companies get the feedback they need to make strategic decisions regarding their product or service. It allows you to tell a company what you are looking for as a consumer, what price range you are willing to pay, the location the company should distribute the product or service, how it should be advertised, and much more. In the end, your feedback may make the product or service easier to use, more affordable, and easier to purchase. Most of the questionnaires provided to RMS ViewPoint members also include the opportunity to enter into a raffle for a reward. Previous rewards have included trending products, cash, and event tickets.

Focus Groups

Focus groups are a type of qualitative research, and typically involve a guided discussion between the moderator and participants. The goal of the discussion is to gather opinions on a particular topic from the focus group participants. It is common for companies to utilize a focus group during the first phase of research to get a baseline idea of what the research should focus on, or as the end phase of the research to probe deeper into a particular topic that resulted from previous research. By participating in a focus group, you have the opportunity to shape the evolution of a product or service. Participants of a focus group are typically paid for their time, with cash incentives typically ranging from $50-$200 for a two hour focus group.

Secret Shoppers

Secret shoppers look more at how the customer interacts with a company. Secret shoppers are given a task to collect information which will allow the company to solve an issue or improve a product or service. Mystery shoppers may collect information on things such as displays, pricing, store layout, sales staff, and customer service, and in return will relay the findings to RMS. Research findings generated by RMS allow the company to make informed decisions which impact the customer experience. When we recruit mystery shoppers from RMS ViewPoint, they are typically compensated for their assistance. What a great way to get rewarded – retail therapy!

Being a part of a research panel has an impact on the products and services we use daily. If you would like to share your opinion and be the first to know about our research opportunities, register for RMS ViewPoint. It’s quick, easy, and free. Just click here!

Read Full Post »

The following blog post was written by Mark Dengler, President of RMS.

Brazzlebox-Panelist-300x225 (1)

I recently had the opportunity to be a part of the expert business panel at the 2015 Brazzlebox Small Business Summit on November 4th at the Oncenter. I was thrilled to see the amount of young entrepreneurs eager to learn and gather as much insight as possible. I was also excited to be surrounded by fellow business professionals who divulged their honest opinions and experiences for the good of our growing community. Not only did our Q&A session pertain to entrepreneurs, but it also relates to those who continue to market their services and want to grow.

Whether you’re a business that has been around for a few years, or an entrepreneur ready to implement your business plan, tracking information that will help improve your operations and marketability is crucial. From start-ups to businesses that have been around for years, it is important to look at consumer trends, competitors and price points. Identifying what your “Unique Selling Proposition” (USP) is will help differentiate you from the competition. Ask yourself questions—why should people purchase from me? What is different about what I’m offering? How can I take what’s already out there and make it better?

One of the most influential pieces of data that you can use to track your USP is customer feedback. Your first customers are your “early adopters” and will ultimately become your ambassadors in the marketplace. You need to recognize that their experience with your product or service is critical, from the very beginning to the very end. Businesses that have been around long enough to build a customer base need to continue monitoring the marketplace and its reaction to your product or service.

To keep consistent with the evolution of the marketplace, you need to have a plan that incorporates some key elements:

  1. Competitive assessment: profile your top competitors. Identify the saturation potential and estimate the market share.
  2. Marketing strategies: determine your USP and brand perception in the marketplace and execute accordingly.
  3. Develop an operational income statement: review it regularly to monitor revenue generation and expenses.
  4. Set operational milestones: strategically plan where you want your business to be at future points by defining achievements that will prove success in your operation.

Building a successful business requires resiliency and a strong drive to succeed. Develop a culture and community in your organization that reiterates what you define as successful. Fortunately for start-ups and veteran businesses in our area, there is an abundance of resources such as networking events, local chambers and business organizations, all here to help local establishments flourish. Take advantage and participate in many of the opportunities offered—gaining that knowledge and insight is something you can take with you no matter what stage you or your business are in.

RMS is a full-service market research firm located in Syracuse, NY. If you are interested in learning more about our services, please contact Sandy Baker, our Senior Director of Business Development & Corporate Strategy at SandyB@RMSresults.com or by calling 1-866-567-5422. Visit our website at www.RMSresults.com.

Read Full Post »

satisfaction-dial

Many companies measure customer metrics such as Net Promoter Score (NPS), as well as other loyalty and customer satisfaction metrics through short surveys sent to their customers. In fact, many Customer Relationship Management (CRM) systems integrate with tools to collect data and report on those metrics.  Data for customer experience metrics can be transactional or conducted periodically at regular intervals. Some organizations simply collect this data because they know they should, but are not sure where to begin with the data they have on hand. Other organizations take this a step further by reviewing all data that comes in, ultimately using it to guide operational management and measure the performance of front line employees on a case by case basis.

Speaking with many organizations, it is clear that in many circumstances this data isn’t being used to its full potential. While it is useful to ascertain customer feedback and follow-up in some cases, organizations may be selling themselves short by only monitoring these metrics on a day to day basis. Customer experience metrics are extremely valuable when examined at a high level, looking for overall trends in the data, as well as the driving forces behind low or high experience ratings. Metrics are important for strategic purposes and long-term goal development, allowing organizations to ensure a continually engaging and positive customer experience. The data needs to be tabulated and analyzed to establish context. It should also be reviewed in intervals, allowing organizations to spot trends and measure the effectiveness of changes in strategy.

Ask yourself larger and more exploratory questions when analyzing the data. Here a few example questions that you may consider:

  • What factors are the driving force behind customer satisfaction and loyalty?
  • How does customer experience vary by audience?
  • What are the top reasons for customer dissatisfaction?  How can we correct those issues?
  • How do customers think we can deliver a better experience?
  • Does customer experience vary over time?  Is there a seasonality to the data, or does it correlate to internal changes?

The goal of this high level analysis is to find opportunities to improve the organization and deliver the ideal customer experience. In some cases, organizations may not collect enough information to answer all the questions they may have. In those situations, they may opt to conduct a full customer experience study. This will give them more in-depth reliable results, and set a benchmark for future customer experience studies.

Research & Marketing Strategies, Inc. has experience working with organizations to delve into the customer experience, and ultimately identify actionable findings based off that data. If your organization is looking for further guidance on this topic, or looking to conduct a customer experience study, please contact Sandy Baker by e-mail at SandyB@RMSresults.com or by phone at 315-635-9802.

Read Full Post »

Older Posts »

%d bloggers like this: