What if you knew…
Which customers will leave in 12 months?
What performance issues result in poor value delivery to your customers?
Which customers are willing to pay more?
Which customers would be receptive to expanding purchases of your services/products?
Which customers are promoters?
The CSM F.A.C.T.O.R.
A number can only tell you so much, high or low, and maybe how you compare to a competitor. CSM focuses on the narrative. We want the stakeholders to prioritize what to improve and tell you how you can improve to deliver more value that keeps customers coming back.
CSM uses highly sophisticated quantitative and qualitative analytical tools to provide you with the most actionable information, prioritized by your customers.
CSM collaboratively develops a brief, highly focused survey to obtain insightful and meaningful responses from your customers using a paired methodology: closed-ended rating followed by an open-ended question.
Our nimble, responsive process starts and completes a project in a timely manner.
When a company speaks directly with stakeholders, relationship bias may influence how they respond to questions. Stakeholders are more willing to talk more openly and candidly with an objective, third-party versus someone who has a direct link to their account and has developed a relationship with them.
Higher contact rate = More reliable results. With telephone surveys, CSM typically achieves a 70% to 80% response rate. Online surveys typically yield much lower response rates, usually around 10% to 20%. It’s simple. The larger your sample size, the more reliable your information.
According to Forrester it is 5X more expensive to acquire a new customer than to retain a current one.
A 2% increase in retention has the same effect as decreasing costs by 10%, according to Emmett Murphy ‘Leading Edge of Chaos.’
According to Bain & Company, increasing customer retention by 5% increases profits by 25% to 95%
A report from McKinsey shows higher customer satisfaction scores = revenue growth of 10% to 15%.
What customers say:
“I think with these sort of things, if we can get one actionable item, one really good, strategic, actionable item, then it’s been a successful engagement. We got that one really good, strategic, actionable item.”
George Manak, Southeastern Mills
“CSM takes it to the next level by giving us more information beyond just our client’s scores and verbatim by telling us what they’re really saying and that is super helpful to us. There were several ‘ah-ha’ moments.”
Mike Jones, System Enerprises