As per the Alteryx analytics, 69% organizations use customer analytics to support core sales and marketing. 63% use analytics toward enhancing customer satisfaction and 46% use it to increase customer loyalty.
Today’s business success is mostly dependent on how customers are perceiving a product on offer along with the flexibility in making the product available to customers. It starts with products being viewed on display to how it met the customer’s expectations regarding its usability and services offered for it. Companies are working toward optimizing using ultra-cautious measures.
A satisfied customer is the one who makes repeated purchases from a brand and also refers it to others, resulting in positive publicity. A satisfied customer is like an advocate who publicises the strong points of a brand to the world.
As per Bath Empire survey 2014, 41% customers’ purchase products as they think the prices are great and 26% go for quality and choice. Analytics also show that 27% customers fall within the age of 45 to 54 years and 24% fall between 35 to 44 years.
Earlier, when there were no tools or metrics used to measure the satisfaction, the companies were unable to get the ideal reports on what to produce or on how to optimize the operations and most importantly ‘What customers want?’ They could get the answers only when a customer switched brands.
According to Tony Hsieh, “Customer service shouldn’t just be a department, it should be the entire company.”
A lot of terms like customer retention, customer loyalty and customer delight has been coined, and reports are gaining more focus. Companies are investing heavily in getting analytics reports with insights on factors affecting end-customer satisfaction like the attentive / knowledgeable staff, respect for the customers, easily accessible, delivery service, post-sale service, return policy; pricing; as guidance to forecast future business requirements. These details, when expressed with the help of pictorial representation, provides meaningful insights into how an end-customer perceives a product and service of a company.
The image below depicts the different types of satisfaction levels that can be identified using analytics to understand the customer’s behaviour toward an individual product or brand.
E-commerce companies leverage analytics to track details of customers who add products to the cart but do not checkout. It also provides details like real-time view of the number of customers accessing a website, the type of customers and their geographic location.
The focus of the analytical study is to gain insights like bounce rate, exit pages, In-page analytics, Site search; navigation summary.
Now-a-days, with the increasing requirement for better and improved analytics report, lot of companies are coming up with different methods using which different analytical reports can be fetched to determine future course of actions. The methods of measurement are:
As per the Qualtrics, below mentioned are some of the parameters used to measure customer satisfaction. (Source: Qualtrics Blog)
