Conducting An Effective Customer Satisfaction Program

Most customer interaction studies have a couple of core issues that we'd like to measure. Among the top are: satisfaction, importance, and loyalty.

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tests,surveys,online,testing,engine

Article Body:

Most customer interaction studies have a couple of core issues that we'd like to measure. Among the top are: satisfaction, importance, and loyalty.

Satisfaction is how satisfied are your customers with respects to the various services and attributes of your engagement with theirs:

a. over-all product/service satisfaction
b. pre-sales support
c. ongoing support and customer service
d. cancellation reasons and drop-outs

Importance covers what is really important to your customers and what are not. For example: if most of your customers think on-site support is not very important, having a high satisfaction score on that will not significantly affect the bottom-line.

Loyalty is what do your customers think about you really and how they perceive your services. With the high cost involved in the acquisition of new customers (about 10x) this usually plays a critical role in the development of your business and services that you provide. For most businesses, customer retention directly affects the profitability.

Businesses today realize that one of the keys to success in the competitive marketplace is effective customer management. Companies see customer relationship as a strategic advantage and have invested a lot of effort in making sure that Customer Relationship Management (CRM) is high on the priority list. However, few companies have invested effort in terms of having a continuous measurement strategy that can signal potential dips in real-time.

TeamTesting is a web-based engine you can use to create professional and powerful online tests and surveys. Our services can be used by companies to evaluate their professional staff as well as applicants and can be tailored for use by research or educational institutions, public or privately held firms, and by anyone needing to collect any statistical information from others. Visit http://www.teamtesting.com/ for more details.

Conducting A Market Analysis On Your Business

The term "market analysis" is often confusing to entrepreneurs, especially for people who focus on a specific niche or market segment.

In fact, many small business owners don't understand the process or complain that conducting a market analysis is too complicated or too expensive and wonder why or if it is necessary.

What is market analysis?

In the most basic terms, a market analysis is an assessment of:

- A particular problem or opportunity in a market.
- The n...

Keywords:

market analysis,USP,unique selling proposition

Article Body:

The term "market analysis" is often confusing to entrepreneurs, especially for people who focus on a specific niche or market segment.

In fact, many small business owners don't understand the process or complain that conducting a market analysis is too complicated or too expensive and wonder why or if it is necessary.

What is market analysis?

In the most basic terms, a market analysis is an assessment of:

- A particular problem or opportunity in a market.
- The needs of the target market relating to the problem or opportunity.
- Ideas for marketing a particular product or service that fills the needs of the target market.

When should you conduct a market analysis?

- When you are starting a business.
- When you are entering a new market.
- When you are considering a new product or service.

Why should you conduct a market analysis?

- To minimize business risks.
- To understand the problems and opportunities.
- To identify sales opportunities.
- To plan your marketing/sales approach.

The process of conducting a market analysis can be divided into
three parts:

Part 1 - Understanding Market Conditions

This gives you basic information about your entire market -- the size, the competition, the customers.

Part 2 - Identifying Market Opportunities

This gives you more targeted information about potential problems or opportunities in the potential market, and includes information about growth, current and future trends, outside factors and more information about specific competitors.

Part 3 - Developing Market-Driven Strategies

Here is where we get into what market research does for you. It helps you to pinpoint opportunities to grow your business. By understanding the market and knowing what opportunities are available you can create a marketing strategy that leaves your competitors in the dust!

Here are 10 questions that can help you get started:

1. What is the market I want to reach?

- Who are they? (Basic Demographics)
- What is their biggest problem in relation to this market?
- Are their needs being met by the products or services provided in this market?

2. Who is my competition in this market?

- Are they successful in this market?
- Are they marketing a similar product or service?
- What is the market share of the three biggest competitors in this market?

3. Is there room for growth in this market?

4. What is the size of this market?

- Is there room for growth?
- Is the industry growing? Stable? Saturated? Volatile? Declining?

5. How is my product or service different from the competition?

6. How can I reach this market?

- How is my competition currently reaching this market?
- Is it the most effective way?
- What are the alternative ways of reaching this market?

7. What are the business models of my competition in this market?

- Are they effective?
- Is there a way to do it differently or better?

8. What do customers expect from this type of product or service?

- What are the core competencies of this product or service?
- What would make the product "new" "different" or "better" for the customer?

9. How much are customers willing to pay for this product or service?

10. What is our competitive advantage in this market?

Knowing the answers to these questions will not only help you figure out if there is a need for your product or service, it will help you figure out the best ways to reach your customers, price your products or service and ultimately make more sales!