CSAT - Gauging Success of Customer Relationships
Source: Prayag Consulting
Industry experts repeatedly emphasize that mining an existing customer delivers significantly higher RoI than acquiring a new customer, but are companies listening? There are several approaches to mining strategic accounts, but the end objective remains the same - ensuring high potential customers stick with one and remain impervious to competing offers. The recommended starting point is to understand customers better through a Customer Satisfaction Study (CSAT). After all, one needs to understand what customers think of one and expect from one before one can institute customer loyalty and stickiness programs. A CSAT will help companies understand the experience they are delivering to their customer - this goes much beyond meeting SLA's.