How to Retain Customers Using Feedback - (Archived)

In an increasingly competitive market, the companies winning repeat business have a finger on the pulse of what their customers think about their performance.

In the federal government there are systems like the Contractor Performance Assessment Reporting System (CPARS), which assesses a contractor’s performance and provides a record, both positive and negative, on a given contract for a specific period of time. In the commercial sector, many companies conduct internal debriefs or ask for specific feedback when a job is done. But neither of these provides the full picture of how a company can improve performance … and retain key customers and contracts.

Third-party customer and contract evaluation surveys augment this feedback with insights that can inform strategic and operational improvements.

“The right research, such as contract satisfaction evaluations or brand image studies, can provide a comprehensive, 360-degree view on the health of a contract or broader market perceptions,” said Laurie Morrow, Director of Research Services and resident customer satisfaction research expert at Market Connections, Inc.

“In addition, research allows you to dive deeper into the various aspects of a contract, as opposed to gaining very generalized information about one component of the work, which doesn’t allow for probing into any areas of concern.”

With continual customer feedback, which is often very honest and candid when coming through an independent third party, companies can arm themselves with the right knowledge to keep existing work.

Custom contract evaluations and customer satisfaction research garner actionable insights on specific performance areas. With this information, companies can quickly address any issues head-on with their customers, and course-correct before a contract is in jeopardy or comes up for recompete.

In addition, companies can implement research on a quarterly or biannual basis, and not have to wait for CPARS feedback, which only happens annually, or a project debrief. L-3 STRATIS does this as part of a larger customer loyalty and quality management program. See the case study.

Knowledge truly is power and insights directly from customers can help guide any company through these most difficult times.

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