| Customer satisfaction is a core KPI in any company, | | | | customer satisfaction now can reap big returns in the |
| however, it is one that whilst measured is often not | | | | future. |
| integrated into higher level decision making. Rather than | | | | The key is in knowing exactly what questions to ask |
| driving operational performance, it is more typically | | | | to illicit the business intelligence you need and decipher |
| bundled with other qualitative market insight KPI such | | | | it appropriately. You need to not only serve your |
| as brand value. | | | | customer now, but to serve them even better in the |
| Yet customer satisfaction is critical to any company's | | | | future - AND to have them serve you by referring |
| success. It is a composite of: | | | | their friends and associates to you. |
| | | | With product differentiation becoming marginalised |
| 1. How effectively your marketing team is matching | | | | through rapid production capabilities, your ability to |
| messages with customers | | | | serve your customer is what will win the long sales |
| 2. Whether your product development team has been | | | | game. |
| successful in meeting your customers needs. | | | | Knowing your customers means knowing where your |
| 3. How well your fulfillment process is working | | | | sales are coming from. |
| Customer satisfaction is determined through a number | | | | Once you know that, you know where to market and |
| of interrelated KPI. If we take the three above | | | | the best messages and channels to use to reach |
| examples, this might be marketing campaign response, | | | | them. |
| the number of returns and the delivery to promise | | | | Between the Internet and BI tools we have the ability |
| percentage. | | | | to not only gather more information, but to analyze it in |
| When a product is returned, you are presented with | | | | ways previously too complex. Your input doesn't have |
| an invaluable opportunity to find out how the customer | | | | to be complex - just keep asking - who are my |
| perceives three things - your company image, your | | | | customers and where are they coming from. This |
| product and your service. You are also presented with | | | | technology may collect the information from your |
| an additional opportunity to improve your score in each | | | | customers and analyze it in the context of your |
| of these three areas. It is easy to see returns as a | | | | business, but the element that connects that insight to |
| cost center, rather than a profit center. | | | | your executive and the decisions you need to make is |
| A smart marketing team is not just focusing on the | | | | the Strategic Performance Management [SPM] |
| next sale, they are focusing on the potential for repeat | | | | framework. |
| sales during the customer lifetime. So an investment in | | | | |