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Challenge For Leaders
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Customer Insight Research
The Challenge For Leaders
Companies always want to keep good customers and attract new ones. But this imperative takes on new meaning during an economic downturn. Most leaders intuitively know that the company that understands and best responds to its chosen customers' needs wins. As budgets tighten and customer demands increase, leaders need better insight into what drives their customers and which customer satisfaction measures are worth pursuing because they translate into bottom-line results.
Services
As specialists in insurance, we have the ability to dig deep and get beyond the conventional wisdom and familiar patterns of thinking that tend to dominate the industry. Using a variety of methodologies and tools, we deliver the insights and actionable recommendations that, when implemented, significantly improve performance.
We concentrate on two areas: 1) helping companies identify customer needs in new and existing markets; and 2) improving customer loyalty. Our focus is on uncovering what customers feel versus what they say; because feelings, not thoughts, correlate with buying behaviors. Measuring standard industry buying decision criteria like price, convenience and service can give companies a false reading on where and how to best invest their resources.
Typical research assignments include:
* Understanding customer needs – Whether an organization is launching a new product, restructuring, repositioning or entering a new market, the greatest source of risk in business is the failure to understand the needs of the customer. We work with companies to develop the clear, actionable customer insights they need to make informed decisions.
* Identifying and managing the levers that drive customer loyalty – Every interaction an organization has with a customer provides an opportunity to strengthen or hurt the relationship. But all opportunities are not created equal - from a customer's perspective or in supporting the corporate brand. We help companies maximize resources by identifying and excelling at the moments that create memorable branded customer experiences and ultimately impact the bottom line.
* Measuring & tracking "total" satisfaction – Customer satisfaction surveys are a core tool for customer-focused businesses. The problem with measuring satisfaction is that it sets the bar too low and doesn't actually impact a company's results. Research consistently shows that customers need to be "totally" satisfied in order to increase "purchase" and "sales per customer" rates. Our research concentrates on identifying and measuring "total" satisfaction.
* Identifying emerging customer needs – Current economic conditions are changing how customers think and act. Moving early to anticipate and serve new needs can establish strong customer loyalty and create a sound base for future growth. We work with companies to find opportunities in changing customer needs, attitudes, buying patterns and work habits.
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