Customer Satisfaction

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How to Drive Customer Satisfaction

There are six significant drivers of customer satisfaction for companies to pay attention to: adaptability, commitment to customers, connection with other customers, product assortment, easy transactions and appealing environment. A Trader Joe’s grocery store, for instance, carries about 4,000 items, compared to 50,000 in a typical store. Less is better: Items are chosen to match the demographic and psychographic profiles of Trader Joe’s customers, and provide the assortment customers want.

Image courtesy of Flickr user BenLucier.

Optimizing Your Digital Business Model

A company’s digital business model describes how the enterprise interacts digitally with its customers to generate value. If you lack a good digital business model, your customers may leave you behind. This article presents a framework to help enterprises compete digitally with three capabilities: their content, customer experience and platform. The framework is illustrated with case studies of top performers like Amazon, Apple, LexisNexis and USAA and results from an effective practices survey.

“Eye” by artist Tony Tasset in Laumeier Sculpture Park, St. Louis, MO. Image courtesy of Flickr user warmestregards.

How Much Data is Too Much Data To Mine?

Do you know how much data is being collected about you at any given time by any given organization? Concerns about privacy in the new era of big data are making the rounds at many companies and being discussed by universities, governments and global institutions. This blogpost discusses some of the major privacy concerns about big data, how to address them and has a special focus on Equifax, the credit company that has 800 billion records with details on 500 million consumers and 81 million businesses in 17 countries.

When Should You Nickel-and-Dime Your Customers?

When should a company “nickel-and-dime” customers by charging separately for various extras, and when is it better to combine all of the charges into one total price? It depends on a variety of factors, such as whether customers comparison shop, whether they are more sensitive to the prices of some components (delivery) than to others, whether the price of one component is small or large relative to the others, and whether the company controls the costs and quality of a particular component.

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Courtesy of Procter & Gamble

Is Your Company As Customer-Focused As You Think?

To become a customer-focused organization requires senior executives to open up communication with people throughout the organization so they can hear what is actually going on — as opposed to a sanitized version. Few companies make this leap, even though not doing it can hurt long-term performance. However, managers can come to terms with their company’s weaknesses in the realm of customer focus by posing a set of five questions specifically designed to uncover their vulnerabilities.

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Finding the Right Job For Your Product

Most companies segment their markets by customer demographics or product characteristics and differentiate their offerings by adding features and functions. But the consumer has a different view of the marketplace. He simply has a job to be done and is seeking to “hire” the best product or service to do it. Marketers must adopt that perspective.

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