Customer Satisfaction Entrepreneurship 6, 2013. Class Objectives 1.Students are aware how customer...

Customer Satisfaction

Entrepreneurship 6, 2013

Class Objectives

1. Students are aware how customer satisfaction plays a role in business sustainability

2. Students understand aspects that govern your customer satisfaction


Are your customers satisfied?


"Customer satisfaction is the degree to which the needs, desires, and expectations of the customers will come and met or exceeded through a transaction that will result in repeat purchase or loyalty that continues“ (Band, 1991)


Customer Satisfaction

Customer Loyalties

Positive Feedback

Repeat Order

Cross Selling

New Customers


Customer Satisfaction TypologyBefore Sales Satisfaction

Deals with ease of finding information, ease of shopping process and availability of alternative product in the market

Wikstorm (1981)

Product and Price

SatisfactionDeals with Price performance satisfaction

After Sales Satisfaction

Deals with after-sales service and product experience

Marketplace Structure /

Performance Satisfaction

Deals with marketing system process , advertising model and process oriented model


Factors of Customer Satisfaction

Topics


The Big 8 Factors

Performance

Features

*Hanan and Karp, 1991

Reliability

Conformance

Durability

Serviceability

Aesthetics

Perceived Quality

1

2

3

4

5

6

7

8Entrepreneurship 6, 2013

Performance


Features Entrepreneurship 6, 2013

Reliability


ConformanceEntrepreneurship 6, 2013

Durability


Serviceability


Aesthetics

KIA Sportage 2011, Red Dot Awards 2011 Entrepreneurship 6, 2013

Perceived Quality


Customer Loyalties

Topics


How to lose your Customer


Customer ReactionCustomer Reaction

• Loyal Customer will give positive feedback to you and other potential customers

• Satisfied Customer will recommend product to other people

• Satisfied Customer will give positive feedback when asked


What are some of the simplest ways to show your customers that you value them?• Smile at them and genuinely greet them.

• get to know your customers names and preferences.

• Learn how your customers use your products and services.

• Ask for their ideas and suggestions on how to improve or change your products or business.

Service Profit Chain

Employee Satisfaction Value Customer

SatisfactionCustomer

LoyaltyProfit & Growth

Result from high quality

support services

and policies

Create by satisfied, loyal and

productive employee

Influenced value of services provided

for customer

Result from customer

satisfaction

Stimulated primarily by

customer loyalty


“As your Customers needs change you company needs to change to meet them”


Improving Customer Service

Topics


Improving Customer Service

1. Stay in contact with customers on a regular basis

Ask customers if they want to be updated by e-mail.

Follow-up after each sale to see if they are satisfied with their purchase. Send an e-mail out a few days after their purchase, another in a week or two, and then another in a month.

*Catherine Franz, Ten Ways To Help You Improve Your Customer Service


2. Create a customer focus group by inviting 10 to 20 loyal customers to meet regularly. Alternatively, send out a monthly survey to this group asking for ideas and input on how to improve your customer service. Give them a reward. Pay them, give them a gift certificate, or send them free product.

3. Have a web site that is easy to navigate. Add a frequently asked question's "FAQ" page and explain anything that might confuse your customers or visitors. Follow-up with an electronic survey with questions on how to increase your site's user-friendliness.


4. Resolve customer complaints quickly and completely. Answer all e-mail and phone calls within a few hours. This will show your customers you really care about them.

5. Don't make your customers or visitors hunt for your contact information. Make it easy for them to contact you. Offer as many contact methods as possible. Hyperlink all your e-mail addresses so they don't have to find or type it. Offer a toll free number.


6. If you have strategic alliances or employees, make sure they are familiar with your customer service policy. Give your employees bonuses or incentives to practice excellent customer service. Tell employees to be flexible with each individual customer, each one has different concerns, needs and wants.

7. Give your customers more than they expect. Send thank you gifts to long time customers. E-mail them greeting cards on holidays or birthdays if you have their address or online cards if you only have their e-mail address and name. Give bonuses to your customers who make a big purchase or multiple purchases.


8. U-welcome, please, and thank you and can never be over used. Be polite no matter what. Admit and apologize for mistakes quickly and make it up to them in BIG ways if you want them to continue being a customer.

9. Reward in points -- give customers a point for every dollar they spend. Set up a points-earned sheet. E-mail the customer an update monthly. If they send you a referral they get 10 points, if they buy something add 10 more points.

10. If your business is local, invite customers to your office for lunches, parties, barbecues, dances, seminars or other special events.

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