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Monthly Archives: June 2011
The Impending Cell Phone Customer Satisfaction Nightmare
What happens to customer satisfaction one of the lowest rated cell phone companies buys out one of the most limited cell phone companies whose sole benefit is the low cost option they give consumers? We’re about to find out. Read more…
Rethinking the “Would You Recommend This Product” Question on Marketing Surveys
• Customer satisfaction surveys are valuable tools, but one has to imagine that, on average, when a recurring customer has to pick between two choices where one is favorable to the company and one is unfavorable, most people are likely going to choose the favorable option. It seems (although this may be wrong) that those that would have answered this question would be more likely to choose that they would recommend a product that they may otherwise not care much about. Read more…
Exploring the Final Conclusion of Dr. Chuck Chakrapani’s article on Customer Satisfaction
One can assume that even if the increase in customer satisfaction doesn’t lead to more revenue, a decrease in satisfaction likely would lead to a decrease in revenue. Knowing that you have moved customers from a 5 to a 7 on the customer satisfaction scale gives you a buffer – now you know that your satisfaction efforts were successful, and you have the advantage (most likely) when it comes to keeping customers. Read more…
Stats vs. The Subjective Value of a Comment/Response
The qualitative section of customer satisfaction surveys is not always a place with useful information. As much as it would be nice to believe that “the customer is always right,” the space itself is often used as a place to simply rant about some subjective experience that may not always be indicative to the company as a whole, nor will it necessarily be a shared experience with other customers. Read more…
Student Incentives Research
Many marketers today tend to use the “enter for a chance to win $XXXX” approach where the odds of winning are astronomically low. One wonders if that is the most effective approach for getting respondents, as the University study shows that people like the idea of winning something more than a high likelihood of winning nothing. Read more…
The Youth Change Jobs Part 2
The issue here is not that hiring younger employees is necessarily a bad investment. Indeed, if you can get the younger employee to stick around and improve their employee loyalty, your business can benefit substantially. What it means, however, is that laying off the older employees to bring in younger, cheaper employees may not be the best strategy, and should your business decide to enact that strategy, you will have to maximize your employee satisfaction and employee loyalty efforts in a way that may require a considerable investment. Swapping one for the other and expecting to maintain the status quo seems, at least logically, like a bad strategy, and one that could result in considerable losses for your company. Read more…
The Youth Change Jobs Part 1
Young employees are the most notorious for quitting work to find a new job elsewhere. In fact, most estimates put the average timeline at a job of about two years. With very little to tie them down, no job experience, and very little idea of the career they want in life (beyond what they imagined during college), there is a high probability that a younger employee is going to be upset at their early jobs and continue to find work in other locations. Read more…
Using Predictive Analytics in Marketing Campaigns
The entire goal of predictive analytics is to optimize your business strategies to when they are most effective, in order to generate the best response. Whether you are targeting customer retention, cross selling, or predicting the best time to target potential customers in order to generate more revenue, predictive analytics is a set of strategies that can easily help you manage all parts of your business’s strategy if you use them correctly. Read more…
What Are Predictive Analytics?
Businesses need more than simply a successful revenue stream in order to ensure their long term success. They need to be able to set themselves up for a successful future – leveraging what they know in order to figure out what will be expected to occur in the future. They need tools for analysis that will help them drive their business practices in the right direction. Read more…
3 Tips for Improving Youth Employee Loyalty
Employee loyalty in the younger population is shockingly poor. Young employees tend to jump around from job to job at the start of their career as they learn what they like, what they don’t like, and the ins and outs of the business world. Sometimes they leave for just reasons – for example, not being treated with respect or given the right compensation because they are a younger employee. Other times they leave for the wrong reasons, such as not respecting management’s superiority. Read more…
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