Customer Insight - Understanding your customer's needs
Goulden Reports has built a high level of expertise in providing clients with data that identify customer requirements and monitor customer satisfaction and loyalty. Goulden Reports customer surveys are designed to help you understand your company's brand/corporate awareness, in absolute terms and relative to the competition:
Your customers' expectations in terms of product and service features
Customers perceptions of your company's performance
The comparative performance of competitors
Reasons for dissatisfaction and performance gaps
Your company's strengths and weaknesses
Your customers' purchasing intentions - reasons for remaining loyal or switching to a competitive supplier
Studying the performance of competitors is an essential part of the process. Customers can become aware of exceptional performance by competitors and may be drawn towards them even if their current supplier is performing well. Equally, they may remain loyal even though they are not fully satisfied because they know that the competition is no better.
At Goulden Reports we pride ourselves on our ability to customise our approach to meet your needs. In addition to the core components described above we can expand the analysis to cover topics which deepen your understanding of the market situation and enhance your ability to define solutions that will strengthen relationships with existing customers and increase market penetration. These topics include:
Loyalty - high levels of satisfaction do not ensure loyalty. Goulden Reports research identifies loyalty drivers and measures purchasing intentions, extent of multiple sourcing, willingness to recommend and availability of alternatives.
Perceptions of market leadership
Market positioning analysis
Opportunity analysis - identifies the areas of opportunity for your company by taking into account the performance of your company and your competitors, and the importance of each attribute - the larger the opportunity score the less well served the market is as a whole.
Key account monitoring - key account perceptions require individual probing and reporting. The aim of key account research is not just to measure relationships but to provide qualitative insight to help you improve them.
The information gathered would enable you to focus your efforts on those areas that have the greatest impact on customer retention and acquisition, thus improving business performance. Goulden Reports can also help you to develop a winning product or service strategy by providing you with data on the product and service levels that generate the highest satisfaction amongst customers. This research approach uses conjoint analysis to measure the values attached to product/service attributes and levels.