According to many research studies, it has been found that a single disappointed client will tell 10-15 other customers about their experience with the organization which can result in attrition to already established businesses.
Customer satisfaction assessment is the primary tool for keeping the tab on client feedback regarding the product and services. Also, it provides key inputs for improving client relationship management practices across business segments and sub-segments thereby builds long-lasting brand loyalty among clients. From a management fad, customer satisfaction measurement has changed into an effective tool for transforming a supplier-customer connection and driving continuous enhancement in the customer interface business processes. In short, customer satisfaction measurement needs an approach that is objective and scientific both.
MIC has a differentiated model which indexes Purchase and Use Satisfaction separately and also assesses relationship depth. Virtually every market leader uses MIC Customer Satisfaction Services to assist their customer retention and loyalty.
A global leader in agricultural harvesting equipment was witnessing a decline in its market share from 90% to 65% in wake of the competition led largely by several local players and to some extent by national and international majors. MIC conducted the customer satisfaction assessment with end users (farmers/ contractors) in all market geographies and brought to the fore that brand has serious gaps in after-sales services, particularly in harvest seasons, leading to the customers switching to competing brands and eroding the market share of the leader. In the aftermath of the study, rigorous customer connect initiatives such as customer workshops through dealer network and putting up service camps in target locations which restored the faith of customers in the brand.
