CUSTOMER RESEARCH

Customer research services that investigate and identify a wide range of factors related to an organizations customers, such as their attitudes, satisfaction and loyalty towards your organization.

Voice of the Customer

• Voice of the Customer is the process of investigating customers preferences and experiences related to your organization, enabling the understanding of customer needs and wants, determining how customers view and value your organizations products and services and understanding where your organization is delivering and failing in your interactions with your customers.
  • For example, a Singaporean hotel sought to better understand the experiences customers had and implemented a Voice of the Customer program to regularly gather customer information to determine what areas of the customers stay were being delivered to expectations and what were not.

Customer Satisfaction

• Customer satisfaction is a key performance indicator for most organizations, measuring how the products and services supplied meet or surpass customer expectations and what aspects of an organizations offering influence loyalty.
  • For example, an Australian general insurance company sought to instigate a customer satisfaction tracking survey to determine key reasons for dissatisfaction in an increasingly competitive market with increasing customer churn. 

Customer Loyalty

• Customer loyalty is typically obtained where customer expectations are consistently met or exceeded. Measuring and tracking Customer Loyalty is increasingly important as a key performance indicator for most organizations.
  • For example, an Australian cinema chain sought to measure customer loyalty amongst it’s customer segments to determine current loyalty levels and to determine what factors of it’s offering influenced loyalty.

Net Promoter Score

• Net Promoter Score (NPS) is an alternative measure of customer satisfaction and loyalty. It is and is used to determine how likely an organizations customers are to recommend and promote the organization. It’s a vital metric for measuring performance as it is a key indicator of overall customer sentiment and advocacy, which links strongly with growth potential.
  • For example, an Australian private health insurer was concerned with their customer satisfaction and loyalty due to decreasing growth. A regular NPS research program was implemented which identified the reasons why customers were becoming dissatisfied and less loyal.

CUSTOMER ANALYSIS

Customer analysis services that investigate, identify and analyze a wide range of factors related to an organizations customers, such as customer value analysis, customer acquisition and retention analysis and customer lifecycle and lifetime value analysis.

Customer Value Analysis

• Analysis to identify and measure the various components that make up the value for a product or service for all customer segments in a market.
• CVA is a strong analytical technique for measuring relative value as well as performance relative to the competition.
  • For example, CVA was used for a consumer credit card issuer in Singapore to determine the components that contributed to creating value for their customers and benchmarking these factors against those of their competitors to create a more compelling and higher value product offering 

Customer Acquisition & Retention Analysis

• Analytical analysis and modelling techniques that provide insight into both customer acquisition and retention.
  • For example, an investment fund manager with operations in several Asian countries sought to conduct analysis to determine which channels were the most successful and profitable in acquiring new customers; in addition to conducting analysis and modelling to determine what activities were the most efficient in increasing customer retention.

Customer Lifecycle & Lifetime Value

• Customer Lifecycle the progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product, service or brand.
• Customer Lifetime Value is a prediction of the total value generated by a customer in the future across the entire customer lifecycle.
• Determining Customer Lifecycle and Lifetime Value enables an organization to identify and focus on long-term customer relationships which are typically the most valuable.
  • For example, an Australian credit union sought to identify the segments of it’s customers which offered the highest lifetime value, through analysis it was identified that those aged 35-45 with a mortgage were the highest, followed by those aged 30-40 who had a personal loan and savings account.

CUSTOMER EXPERIENCE

Customer experience research and consulting services that investigate and determine the marketing and operational improvement strategies required to achieve an organization’s customer experience objectives.

Customer Engagement

• Research and consulting to determine the factors contributing to the level of engagement or disengagement customers have to an organization’s brand, products and services.
  • For example, an Australian superannuation fund manager was aware than 77% of it’s customers made no contact with the fund in the last 12 months and during this period, 6% had switched their investment to another fund manager. Through undertaking research and consulting it was identified which segments of customers would be more engaged through a number of activities to increase engagement, such as changes to the website and an app where current balances and education materials pertaining to superannuation and investing were made available.

Customer Journey Mapping

• Customer journey mapping is the process of identifying and mapping the journey of a customer with an organization through all touchpoints that characterize interaction with the organization.
  • For example, a Hong Kong bank sought to identify and map the journey customers took when seeking to apply for a credit card, through the three main channels (branch’s, online and telephone) with the objective of determining what touchpoints could be removed and improved, to expedite the process and improve the overall customer experience.

Customer Experience

• Customer experience is the response that an individual has through all interactions with an organization across all communications, channels, processes, people and environment, in addition to the products and services sought.
  • For example, an Australian private health insurer conducted research to determine the current level of customer experience and the ideal level customer experience sought across their main customer segments, then benchmarking this against the main competitors in the industry, with the goal of developing a superior level of customer experience to assist in customer acquisition and retention in an increasingly competitive market.

Customer & Operational Improvement Strategy

• Strategic consulting to assist organizations in the process of changing product and service offerings and related operational improvements, required to implement customer experience strategy.
  • For example, an Indonesian airline having undertaken research into its customer experience strategy with business-class travelers, was required to change a number of operational areas from bookings to airport lounges, in-flight services and post-flight services.