Customer Satisfaction and Loyalty

Customer Satisfaction and Loyalty

Monday 19 Apr 2021

  • Duration: One Week
  • City: Madrid 
  • Fees: Classroom: 4250 GBP / Online: 1940 GBP

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Introduction

Customer satisfaction is at the core of the human experience, reflecting our liking of a company’s business activities. The best customer satisfaction surveys measure how products and services supplied by a company meet, exceed or fall short of customers’ expectations

To achieve customer satisfaction and loyalty, it’s important to understand the difference between the two and how they can affect the success of marketing solutions.

The Customer Satisfaction and Loyalty is an advanced course that will help each participant to be able to understand and develop highly productive strategies around customer satisfaction and loyalty.  The course outlines are up to date and pertinent to marketplace requirements, thus catering well to all analytical prediction of training needs in the specified area. A customised proposal can also be arranged, to suit the training requirements of your team.

Course Objectives:

By the end of the course, participants will be able to:

  • Explain customer satisfaction, retention and loyalty and measure them in a meaningful and systematic way
  • Defend the use of a profitability dimension to any customer loyalty strategy
  • Arrange, plan and manage impactful customer satisfaction surveys
  • Define customer segments, profiles and models for maximum strategic as well as tactical impact
  • Create ‘customer value propositions’ that work
  • Develop effective loyalty schemes: know what to avoid and how to improve them

Who should attend?

All marketing staff at any level in the organization, CRM and data mining departments, market research, loyalty scheme managers and supervisors, product managers, business unit managers, sales managers and supervisors, customer care managers and supervisors, analysts and any interested decision-maker,   department head or supervisor.

Course Contents

Day 1

Key definitions

    • Customer satisfaction, retention, loyalty and delight
    • Setting customer expectations
    • Getting closer to customers, understanding value
    • Understanding customer needs and expectations

Day 2

Key loyalty measurements

    • Customer Satisfaction Index (CSI) and Customer Retention Rate (CRR)
    • Profit impact of CRR
    • Customer life expectancy
    • Customer loyalty index

Day 3

Loyalty and profits

    • The cost of loyalty
    • Generally Accepted Accounting Principles (GAAP) shortfall
    • Activity Based Costing (ABC)
    • Customer profitability and the whale curve
    • Customer profitability at best practice companies
    • The strategy quadrants

Day 4

Customer satisfaction surveys

    • Surveys and questionnaires
    • Customer surveys guidelines
    • Different survey metrics
    • Types of satisfaction surveys: transactional versus image-based satisfaction surveys
    • Who and what to measure

Day 5

Managing Customer Expectations

    • Exceeding customer expectations every time
    • Determining how to exceed expectations
    • It’s the little things that matter – increased satisfaction at minimal cost
    • Asking for feedback on performance
    • Ongoing evaluation of effectiveness to ensure satisfaction
    • Maximise the value you deliver
    • Understanding different customer styles
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