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Tag Archives: customer types
Thoughts on Extreme Responses to Market and Customer Research
Without knowing your specific survey or what it includes, it is difficult to know if the extreme answers are indicative of anything. But there is a strong possibility that extreme responses are actually more telling of what your business needs to do – and it is possible that the extreme responses are showing you interesting information. While you should look at averages, pay close attention to extreme responses as well, and see if there are anything worth exploring. Read more…
Types of Loyalty Part 2
Far too many companies fall into the trap of believing the only kind of loyalty is committed loyalty. The reality is that customers shop at dozens of places every week, and employees have countless jobs they would rather be doing. Your company should be working for committed loyalty, since that is the only loyalty type that is based on true belief in the company. The other types of loyalty are not nearly as strong. Read more…
Do Twitter or Facebook Represent Useful Data Analysis?
Not all social media is used by regular people. Many businesses, including spammers, use social media to market their products, con people into paying more money, etc. These people may easily look like regular users and may say things about your product that are not representative of the truth, only to try to market their own products instead. Read more…
Thoughts on Small Businesses, Samples, and Populations
Often when your customer base is small, the reality is that you simply need to “reach as many customers as you can” without worrying about specific numbers. While this is not necessarily a good idea mathematically, the reality is that the limitations of your population is going to prevent you from reaching an adequate sample anyway, but the data you receive from that sample should have more meaning (not necessarily statistically, but practically) to your business. Read more…
3 Reasons to Be Wary of Benchmarking
Benchmarking refers to the act of seeing where your scores “Stand” when compared to businesses in the industry. Your goal is to be the best, because as the best you are more likely to attract new customers from your competitors and experience fewer losses. Many companies use benchmarking as a way to analyze their own business’s success. Read more…
Basic Customer Research with Priority Ranking
There are many ways to gauge what customers want out of a product. There are ample market research tools at your disposal that you can use to find out how to create the perfect product (or services) that will lead to high customer satisfaction levels and a better product than your competitor. Read more…
How Customers Can Influence Customer Satisfaction
Satisfaction, although extremely important, is not as easy to understand as simply reading a number and believing that your satisfaction methods are working. Experienced customer satisfaction researchers often understand how important it is for you to come up with a baseline that is specific to your company, and judge satisfaction by that number accordingly. Read more…
3 Times You May Not Want to Include Demographic Questions in Customer Surveys
When it comes to the surveys and the data that you collect, it is important that you only collect information on what you need, when it makes sense for you to collect it. When the survey is too long already or the sample is too small to get any meaningful information – or you believe that the demographics are going to be so similar as to be essentially useless – you should leave demographic questions off of your survey. Read more…
Running Your CRM Surveys – Are Objectives Important?
Market researchers are often debating how to draw conclusions from the data they collect in surveys. One of the primary points in this debate is the idea of objectives – namely, is it important that you know in advance what you hope to find with the survey, or is it better for you to look at all of the data you have on hand and use that data to form both your hypotheses and your conclusions. Read more…
10 for $X.XX Deals – Are They Using Their Research?
An important aspect of CRM research is product pairings – products that customers tend to buy together. Product pairings are useful from a CRM perspective for several reasons. Product pairings increase revenue at the time of sales and add extra value for customers. Read more…
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