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Satisfaction and Loyalty Research    

Customer Relationship Stages

At Accelerant Research we know that customer development in the form of acquisition, retention, cross-selling, and winning-back those who attrite are key business objectives for any organization, given the financial benefits of doing so. We also know that the stages of the relationship between an organization and its customers are analogous to those stages of the relationship between two spouses.

For example:

Purchase Cycle – the period when consumers are shopping different companies for the products and services they seek – is analogous to the courtship stage between spouses. The Purchase Cycle is a program of research that uncovers the most effective strategies and tactics to attract customers – it reveals the rules of dating. Findings in this study are used to inform the development of ad campaigns, new product/service development, on-boarding strategy, and other customer acquisition initiatives. Of course, these “rules” are, from a research standpoint, key drivers of satisfaction at the earliest stage in the relationship. As stages progress, these rules change, just as they do in spousal relationships. Understanding the drivers at each stage provides a textbook on customer development and the basis to implement strategies that accelerate customer development.

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Satisfaction and Loyalty Research

Customer satisfaction and loyalty research, when applied to each of the customer relationship stages, provides a roadmap on how to accelerate the development of customer relationships.

Customer satisfaction research should include all aspects of the relationship as seen, heard, and felt by the customer (e.g. services, products, fees, delivery channels, communications, policies and procedures).

From all these variables, we can identify the key drivers of customer satisfaction and dissatisfaction. With this information, organizations can develop initiatives centered on these drivers to enhance customer satisfaction. Further, performance on these key drivers can be tracked over time to measure the effectiveness of these initiatives.

Yet, we believe customer loyalty measurements enhance efforts in business planning and performance measurement. Why? Loyal customers are satisfied; satisfied customers aren’t necessarily loyal. Accelerant Research’s ADV+IMMTM Model of Customer Loyalty enhances customer satisfaction research programs to be more actionable and business-focused as loyalty, more so than satisfaction, is strongly related to the bottom-line financial health of an organization.

Accelerant Research’s ADV+IMMTM Model of Customer Loyalty

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