Market Research for Customer Insights
BSC was initially founded in 2002 to serve companies with ISO 9000 compliance. The ISO 9000s are a set of standards related to customer satisfaction, managed by your quality assurance department. Launching satisfaction surveys at a User level is a quick and easy way to comply. However, it often lacks the capacity to be a valuable business management tool.
From a Market Research point of view, the very least Customer Satisfaction Surveys should give you is:
Who should you survey?
To use this type of research to its full potential at your decision-maker level and grow your business, you need to consult your company’s customers at a decision-maker level, not at the bottom. The product users cannot predict the future of an important business relationship. In fact, the numbers may say they are completely satisfied while their top tier employer is at a point where he is considering changing suppliers. You simply need to talk to the person at the top. This includes the people who have an impact on revenue and future growth: Big customers’ CEOs, CFOs and anyone else central to the business relationship. We refer to them collectively as Stakeholders.
Is your company big enough?
BSC has assisted companies with a Stakeholder base of only 20. If a company is that small, it is even more important to gather Customer Insights because losing one contract due to a dissatisfied Stakeholder is a serious matter.
Where should you start?
The first step to take is to communicate with all your Account Managers and collect lists from them with all their important contacts at Stakeholder companies. It is great to have more than 2 stakeholders to contact at one company so as to gain a broader view of the relationship.
Even in this first step, you will notice the importance of this exercise:
What’s next?
BSC will host a workshop for you and your team at your offices. During the workshop we will discuss which questions other brands include in their surveys and then finalise your questionnaire.
The basic questions should include satisfaction with touch points, commitment, benchmarking and suggestions. Additionally, the CEO will be requested to email all Stakeholders about the project. A template will be provided to ensure POPI and GDPR compliance.
BSC will also demonstrate our three different reporting systems for you to choose from:
How will the stakeholders be surveyed?
BSC uses multiple methodologies to suit your requirements:
Final reporting
At the end of the project, it is often best for your account managers to hear the results from an unbiased third party. BSC hosts workshops with your management teams as well as account managers and makes sure that ‘champions’ are assigned to each action plan.
It is advised to budget for this project to launch once per annum. With the next survey we will evaluate each champion’s successes. Additionally, when interviewing stakeholders again, we can discuss their previous comments /complaints, discuss the resolutions applied and measure how their experience has improved.
Let’s begin
Set a date for your first meeting with BSC. During the meeting we will elaborate on the above and answer any questions your team might have. We are standing by to assist, please complete contact us.
From a Market Research point of view, the very least Customer Satisfaction Surveys should give you is:
- An overview of the health of your most important business relationships / contracts – to show which ones are excelling and which are in jeopardy.
- A comparison between your Account Managers and company divisions – to pinpoint bad apples before they cause customers to leave.
- A benchmark of your company against its competitors.
- A set of case studies.
- A realistic action plan and way forward based on the recommendations of other industry experts.
Who should you survey?
To use this type of research to its full potential at your decision-maker level and grow your business, you need to consult your company’s customers at a decision-maker level, not at the bottom. The product users cannot predict the future of an important business relationship. In fact, the numbers may say they are completely satisfied while their top tier employer is at a point where he is considering changing suppliers. You simply need to talk to the person at the top. This includes the people who have an impact on revenue and future growth: Big customers’ CEOs, CFOs and anyone else central to the business relationship. We refer to them collectively as Stakeholders.
Is your company big enough?
BSC has assisted companies with a Stakeholder base of only 20. If a company is that small, it is even more important to gather Customer Insights because losing one contract due to a dissatisfied Stakeholder is a serious matter.
Where should you start?
The first step to take is to communicate with all your Account Managers and collect lists from them with all their important contacts at Stakeholder companies. It is great to have more than 2 stakeholders to contact at one company so as to gain a broader view of the relationship.
Even in this first step, you will notice the importance of this exercise:
- You are building a valuable tool. Make sure to collect as many details as possible including each stakeholder’s line of business, job position, contact details, products/services used as well as who will take responsibility for any queries he/she voices. We also like to ask Account Managers to highlight anyone they see as a VIP. These will receive priority.
- You will see which Account Managers have good responsiveness and attention to detail.
- Similarly, it will show you who has poor availability, who is resistant and who makes excuses instead of cooperating.
- Some account managers may send you just one contact, other may send you ten. Don’t be surprised if one or more of the account managers provide you with incorrect details for their stakeholders. As a solution to this problem, BSC makes a point of tracking the correct contacts down online or asking around to find out who deals with who.
- Once you have a complete list, ask your company’s executive team to review it and add notes about what they expect a stakeholder will say. This will be interesting later. Also consider offering stakeholders incentives for responding. We suggest informing them that X amount will be donated to a charity for each response or giving away tickets to an event.
What’s next?
BSC will host a workshop for you and your team at your offices. During the workshop we will discuss which questions other brands include in their surveys and then finalise your questionnaire.
The basic questions should include satisfaction with touch points, commitment, benchmarking and suggestions. Additionally, the CEO will be requested to email all Stakeholders about the project. A template will be provided to ensure POPI and GDPR compliance.
BSC will also demonstrate our three different reporting systems for you to choose from:
- Live reporting system with recordings of your stakeholders’ comments/complaints.
- Blog reporting where responses take the form of a newsfeed.
- Progress emails and a final report upon closing.
How will the stakeholders be surveyed?
BSC uses multiple methodologies to suit your requirements:
- The stakeholders highlighted as VIPS by your Account Managers will be interviewed face-to-face at their offices by an accredited interviewer from BSC.
- Other stakeholders will be contacted telephonically to arrange a Skype/telephone interview.
- If a stakeholder is unavailable after 7 attempts, he/she receives a printed copy and/or electronic survey.
Final reporting
At the end of the project, it is often best for your account managers to hear the results from an unbiased third party. BSC hosts workshops with your management teams as well as account managers and makes sure that ‘champions’ are assigned to each action plan.
It is advised to budget for this project to launch once per annum. With the next survey we will evaluate each champion’s successes. Additionally, when interviewing stakeholders again, we can discuss their previous comments /complaints, discuss the resolutions applied and measure how their experience has improved.
Let’s begin
Set a date for your first meeting with BSC. During the meeting we will elaborate on the above and answer any questions your team might have. We are standing by to assist, please complete contact us.
