Customer Satisfaction and Loyalty
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Customer Satisfaction and Loyalty Course
Introduction:
Customer satisfaction refers to the evaluation of a customer's attitude towards a product, service, or brand. It is typically measured using a numerical scale through customer satisfaction surveys. On the other hand, customer loyalty entails a set of behaviors and attitudes exhibited by a customer that demonstrate their allegiance to a product, service, or brand. This can include repeated purchases and choosing the brand over competitors.
Understanding the distinction between customer satisfaction and loyalty is crucial for the success of marketing initiatives. To achieve both customer satisfaction and loyalty, it is important to comprehend their impact and implement effective strategies.
The Customer Satisfaction and Loyalty Training course aims to equip each participant with the ability to understand and develop highly effective strategies centered around customer satisfaction and loyalty. The course combines customer service and marketing to provide practical insights into the workings of successful organizations. It covers key concepts such as customer satisfaction and loyalty, customer segmentation, profitability, customer satisfaction surveys, the customer value proposition, and loyalty schemes. By participating in this course, you will gain the knowledge and skills necessary to create a roadmap that propels your organization to new heights.
Course Objectives:
At the end of the Customer Satisfaction and Loyalty Training Course, you will be able to:
- Improve customer satisfaction, retention, loyalty and measure them in a meaningful and systematic way
- Include a profitability dimension to any customer loyalty strategy
- Plan, manage and analyze impactful customer satisfaction surveys
- Define customer segments, profiles and models for maximum strategic as well as tactical impact
- Create Customer Value Propositions that work
- Develop loyalty schemes: know what to avoid and how to improve them
Who Should Attend?
Customer Satisfaction and Loyalty Training, Course is Ideal for:
- All marketing staff at any level in the organization, Customer Relationship Management (CRM) departments, market research, loyalty scheme managers and supervisors,
- Product managers, business unit managers, sales managers and supervisors, customer care managers and supervisors, analysts and any interested decision-maker, department head or supervisor.
Course Outlines:
Introduction to Customer Satisfaction and Loyalty
- Customer satisfaction, retention, loyalty and delight
- Setting customer expectations
- Getting closer to customers, understanding value
- Understanding customer needs and expectations
Key loyalty measurements
- Customer Satisfaction Index (CSI) and Customer Retention Rate (CRR)
- Profit impact of CRR
- Customer life expectancy
- Customer loyalty index
Loyalty and profits
- The cost of loyalty
- Generally Accepted Accounting Principles (GAAP) shortfall
- Activity Based Costing (ABC)
- Customer profitability and the whale curve
- Customer profitability at best practice companies
- The strategy quadrants
Customer satisfaction surveys
- Surveys and questionnaires
- Customer surveys guidelines
- Different survey metrics
- Types of satisfaction surveys: transactional versus image-based satisfaction surveys
- Who and what to measure
Managing Customer Expectations
- Exceeding customer expectations every time
- Determining how to exceed expectations
- It’s the little things that matter – increased satisfaction at minimal cost
- Asking for feedback on performance
- Ongoing evaluation of effectiveness to ensure satisfaction
- Maximize the value you deliver
- Understanding different customer styles