Loyalty Research & NPS Surveys
- Customer loyalty research has shown that most companies lose 45% to 50% of their customers every five years, and winning new customers can be up to 20 times more expensive than retaining existing customers. Moreover, just a 5% reduction in the customer defection rate can increase profits by 25% to 85%, depending on the industry.
Loyalty research is an important business tool. They provide companies a better understanding of their customers, namely how to engage them, and what initiatives are most likely to keep them satisfied.
An example of this type of research is NPS (Net Promoter Score) research, which helps assess customer loyalty. By asking customers questions, such as “Would you recommend this company to other people?”, the survey provides insight into the general public’s feelings towards a product, service, or brand.
At Insight Survey, we offer NPS surveys as part of our many customer satisfaction market research tools, allowing businesses to have the data they need to make sure their consumers stay happy and loyal over time!
In order to conduct successful customer satisfaction surveys, it is vital to employ an independent market research company so customers feel they can speak openly, confidentially, and without prejudice.
Insight Survey provides the following research solutions:
Customer Satisfaction & Customer ServiceExample of questions we help you to answer:
- Are you doing a good enough job in serving your customers, such that they will continue to buy from you in future?
- What aspects of your products or services need improvement?
- What are the steps that you can take to prevent defection to competitors and to attract new customers in future?
Our customer satisfaction and loyalty surveys can help your organisation:
- Measure customer satisfaction levels
- Improve customer retention
- Gauge interest in new products and service offerings
- Pinpoint areas for improvement
- Get actionable feedback at an affordable price
What is Brand Loyalty Research?
Insight Survey, one of the most experienced customer satisfaction survey companies in the industry, offers tailored brand loyalty research solutions that can be leveraged by businesses of any size, and in any sector. Our suite of services includes robust survey creation capabilities, actionable reporting and data cleaning tools, detailed customer segmentation options, personalised email campaigns, as well as in-depth benchmarking analysis.
Whatever your company’s customer loyalty research needs may be, partnering with Insight Survey guarantees an optimal approach to understanding brand loyalty.
Benefits of partnering with a customer satisfaction survey company
There are many advantages of teaming up with an experienced customer satisfaction survey company like Insight Survey, including:
- Improved customer retention: By understanding customer satisfaction, a company can identify areas for improvement and address customer complaints or concerns. This can lead to increased customer loyalty and retention.
- Increased sales and revenue: Satisfied customers are more likely to purchase from a company again and recommend the company to others. This can lead to increased sales and revenue.
- Competitive advantage: By understanding customer satisfaction, a company can differentiate itself from competitors and offer a better customer experience. This provides the company a competitive advantage in the market.
- Improved product and service development: Customer satisfaction research can provide valuable insights into what customers want and need. These valuable insights can help a company improve its products and services.
- Improved internal communication: Customer satisfaction research can help a company better understand the experiences and needs of its customers. Understanding this can improve communication and collaboration within the organisation.
- Improved overall business performance: By understanding and addressing customer satisfaction, a company can improve its overall business performance and better meet the needs of its customers.
NPS Research (Net Promoter Score)
NPS (Net Promoter Score) research is a specific type of customer satisfaction survey that provides a score to help measure customer loyalty. It’s been used by companies worldwide to understand the rate of customer satisfaction among their clients.
The number obtained from an NPS survey indicates how likely customers are to recommend the company in question to others. The overall score is determined by subtracting the percentage of customers who are unenthusiastic about your company from those who are passionate about it.
NPS research allows you to understand what works for your company and what can be improved in order to enhance customer experience and satisfaction. For any business, understanding customer preferences is essential for success. Net Promoter Score surveys can help you raise the bar!
Based on our experience, we usually conduct Online Surveys or Telephonic Surveys with customers using our in-house telephonic survey unit. However, depending on the target market and your needs, we conduct Personal In-depth Interviews or Focus Groups Discussions with B2B customers.
For more about our research process, click here.
Our B2B Market Research Services
Our B2B market research services can help your company make smarter business decisions by identifying key data and intelligence based on your specific needs.
