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Online Research and Data-Collection – Why?
Feedback is a vital part of any organizations growth.
Weather you conduct regular focus groups to elicit
information from key players or, your account manager
calls up all your marquee accounts to find out how
things are going – essentially they are all processes to
find out from your customers’ eyes – How are we doing?
What can we do better?
Online surveys are just another medium to collect
feedback from your customers, employees and anyone your
business interacts with. .
Sending Out A Survey to Customers Can Double Sales
We all are well aware of a simple fact in marketing -
Acquiring a new customer is 10 times more difficult and
expensive than retaining an existing one. This is one of
the fundamental driving forces behind the wide-spread
adoption and interest in CRM and related customer
retention strategies.
In a research study by Rice University Professor Dr.
Paul Dholakia and Dr. Vicki Morwitz, published in
Harvard Business Review, the experiment concluded that
the simple fact of asking customers how a company was
performing by itself proved to be a great customer
retention strategy. In the research study, conducted
over the course of a year, one set of customers were
sent out a satisfaction and opinion survey and the other
set was not surveyed. After a year, twice the number of
people continued and renewed their loyalty towards the
company in the group that took the survey.
The research study offered a couple of interesting
rationales based on consumer psychology, behind this
phenomenon:
1. Satisfaction Surveys reinforce the customers desire
to be coddled and reinforce positive feelings.
This stems from part of the human psychology that wants
to "appreciate" a product or service they already like.
The survey feedback loop is merely a tool to express
this. The survey is a vehicle to "interact" with the
company and reinforces the customer's commitment to the
company.
2. Surveys may increase awareness of auxiliary products
and services.
Surveys can be considered vehicles of communication -
both inbound as well as outbound. Most people consider
surveys as a data collection exercise. When conducting
consumer surveys, they can also serve as a medium for
disseminating information.
Your Guide to Effective Customer Management
The very process of asking people their opinion can
induce them to form an opinion on something they
otherwise would not have considered. This is a very
subtle and powerful argument. This argument is analogous
to the "Product Placement" strategy currently used for
marketing products in mass-media like movies and
television shows. One example is the extensive and
exclusive use of the "mini-Cooper" in the blockbuster
movie "Italian Job." This strategy is questionable and
should be used with great caution.
Surveys should be considered as a critical tool in the
customer relationship dialog. The best thing about
surveys is its ability to carry "bi-directional"
information. The research conducted by Paul Dholakia and
Vicki Morwitz shows that surveys not only get you the
information that is critical for your business, but also
enhances and builds upon the established relationship
you have with your customers.
Recent advances in technology have made it incredibly
easy to conduct real-time surveys and opinion polls.
Online tools make it easy to frame questions and
answers, and create surveys on the Web. Distributing
surveys via email, or website links have made online
surveying a quick-win solution. |
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