Customer Satisfaction (Cust Sat)
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Table of Contents
Measuring Customer Satisfaction (or Cust Sat)
Satisfaction, Loyalty and Commitment are often used interchangeably
While there is no foolproof definition, experience shows the following subtle difference
Satisfaction is experiential.
Loyalty is behavioral.
Commitment is psychological/
Measuring Customer Satisfaction (or Cust Sat)
Satisfaction, Loyalty and Commitment are often used interchangeably
While there is no foolproof definition, experience shows the following subtle difference
Satisfaction is experiential.
Loyalty is behavioral.
Commitment is psychological/
Using Factor Analaysis & Regression to Measure Satisfaction
Factor analysis is one among various multivariate statistical data analysis techniques
Primary purpose is data reduction and summarization
Factor analysis is used for data reduction (using principal component analysis) – a group of variables that explain a certain phenomena lead to a factor
Regression analysis provides weights to understand the relative importance of factor and variables within these factors
Charles Spearman pioneered the use of factor analysis in psychology in the early 20th century & is sometimes credited with its invention
Metrics: Customer Satisfaction
The Question:
How satisfied are my customers? How do I compare?
Approach:
Survey customers in three areas, with answers in a range of 1-10
Commentary:
By using the standard American Customer Satisfaction Index (ACSI) methodology, organisations can compare themselves with industry/ geography benchmarks, and with historical trends
The Formula:
Customer Satisfaction Index (0-100) = ((Satisfaction-1)*.3885 + (Expectancy-1)*.3190 + (Performance-1)*.2925)/9*100
Sales & Marketing
Marketing for Dummies Guides
- Marketing for Dummies
- Marketing Plan
- Marketing Strategy
- Positioning
- Differentiation
- Brand Equity
- Brand Marketing
- Direct Marketing
- RFM – Recency Frequency Monetary
- Breakeven Response Rate
- Customer Profitability
- CLV – Customer Lifetime Value
- Loyalty Program
- The 4 Ps
- The Campaign Framework
- The Marketing Budget
- The Marketing Mix
Measuring, Marketing, Metrics & KPIs
- KPI – The One Key Marketing Metric
- Marketing KPIs and Metrics
- Measuring Marketing
- ROMI – Return on Marketing Investment
- Marketing Finance
- Financial KPIs
- Market Share
- Mind Share
- Customer Satisfaction (Cust Sat)
- Net Promoter Score
- Kano Model
Online Marketing/ Digital Marketing
- CPM Advertising
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- Click Through Rate (CTR or Click Thru Rate)
- Conversion Rate
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