CUSTOMER SATISFACTION & LOYALTY Prepared by: Mustafa AYDIN
Customer Satisfaction Difference between your cost to your customer and your perceived value to the customer M easure of how products and services supplied by a company meet or surpass customer expectation YOUR PERCEIVED VALUE YOUR COST SATISFACTION S E R V I C E E X P E C T A T I O N
The Kano Model of Customer (Consumer) Satisfaction classifies product attributes based on how they are perceived by customers and their effect on customer satisfaction
The Kano Model of Customer satisfaction divides product attributes into three categories: threshold, performance, and excitement.
A competitive product meets basic attributes (threshold) , maximises performances attributes, and includes as many “excitement” attributes as possible at a cost the market can bear. Threshold (or basic) attributes are the expected attributes or “musts” of a product, and do not provide an opportunity for product differentiation Performance attributes are those for which more is generally better, and will improve customer satisfaction. Conversely, an absent or weak performance attribute reduces customer satisfaction Excitement attributes are unspoken and unexpected by customers but can result in high l evels of customer satisfaction, however their absence does not lead to dissatisfaction.
1 st Priority!!! What did you do for your customer today and did you share it with them? Honour Your Promises Anticipate Your Client's Needs Attention to Detail Listen to the voice of your customer (VOC) & Evaluate it Measure customer satisfaction Be Accessible !!! Be Proactive !!!
Customer Loyalty T he tendency of a customer to choose one business orproduct over another for a particular need THE GOLDEN RULE: Keeping old customers is cheaper then getting new customers
Factors to build a loyal customer base:
Products that are highly differentiated from those of the competition.
Higher-end products where price is not the primary buying factor.
Products with a high service component.
Multiple products for the same customer.
What Makes Them Special? Cult brands are special class of magnetic brands that command super-high customer loyalty and almost evangelical customers or followers who are devoted to them. ANSWER: Excellent Relationship with their customers
Satisfaction Vs Loyalty SATISFACTION relates to the results of a process (short-term) LOYALTY relates to a relationship (long-term) Based on a study by Cornell University’s Center for Hospitality, which examined the habits of several hundred guests at two typical Midwest hotels, the study found, among other things, that while 36% of business/leisure travelers were “satisfied” with their hotel—and even professed loyalty to it—they weren’t sure they’d stay at the same place on a subsequent visit.