Tag: Customer Satisfaction

Customer satisfaction analysis

Packaging Company Improves Customer Retention with Infiniti’s Customer Satisfaction Analysis

Customer Satisfaction Analysis for a Packaging Company

Packaging directly influences purchasing intent and customer satisfaction. A recent study shows that customers are 20% more likely to purchase and use products if they are happy with the packaging. This is pressurizing companies in the packaging industry to innovate packaging by focusing on not only on the appearance, but also their functionality and safety. Moreover, as packaging is key to brand image, product trials, and repeat purchases, companies in the packaging industry are also forced to constantly measure customer satisfaction and make changes in their processes to enhance brand loyalty and customer retention. This is where companies realize the importance of leveraging customer satisfaction analysis.

Are you interested to know how satisfied your customers are with your products or services? Our customer satisfaction analysis can help. Request a FREE brochure to learn more about our services and other benefits of leveraging customer satisfaction analysis.

Business Challenge

The client is a global player in the packaging industry based out of Ireland. The company supplies packaging products to pharma, healthcare, and food industry. The client noted a dip in their sales rate due to their inability to adapt to rapid market changes. Also, lack of market access and advanced technology were making it more difficult for the company to satisfy their customers’ needs and requirements. The packaging company also started losing customers to their competitors.

The client, therefore, approached Infiniti Research to leverage their expertise in offering customer satisfaction analysis solution. With Infiniti’s customer satisfaction analysis solutions, they wanted to assess the changes in their customers’ behaviour and understand their needs to devise value maximization strategies to enhance the customer experience.

By leveraging Infiniti’s customer satisfaction analysis, the client also wanted to:

  • Understand the reasons behind customer churn and identify the market requirements
  • Identify competitors’ unique strategies that drive customer satisfaction
  • Identify the needs and requirements of customers regarding packaging
  • Understand the satisfaction rate of customers regarding various packaging materials
  • Understand the common characteristics of customers to target their unique needs
  • Understand customers’ perspective and build capabilities to gain a leading edge compared to their competitors

Solutions Offered

To help the client gain detailed insights into their customers’ requirements and measure customer satisfaction level, the experts at Infiniti Research conducted a customer satisfaction analysis. The factors such as customers’ needs, buying patterns, and reasons for customer churn were analyzed. Also, the experts analyzed the strengths and weaknesses of their competitors to build value maximization strategies to enhance market share.

Infiniti’s customer satisfaction analysis helped the client to improve their products according to customers’ requirements. The customer satisfaction analysis further helped the client to realize the increasing demand for sustainable packaging. This helped the client to focus more on sustainable packaging materials to drive sales. Also, the client was able to differentiate their product offerings according to customers’ needs and demands. This increased customer retention and gradually resulted in higher outcome for the company. With Infiniti’s customer satisfaction solution, the client was also able to enhance customer lifetime value. Moreover, customers’ suggestion for product improvement enabled great improvements in sales for the company.

Request a FREE proposal to know how our customer satisfaction analysis can help you improve customer loyalty and identify best practices to reduce customer churn.

Importance of Customer Satisfaction Analysis for Packaging Company

BENEFITS OF LEVERAGING CUSTOMER SATISFACTION ANALYSISWith rising customer expectations and demands, customer satisfaction analysis is becoming important for companies in the packaging industry to understand customers’ perspective of their products and services. Also, recent studies show that packaging directly influences customers’ buying behaviours and satisfaction levels. Therefore, it becomes imperative for packaging companies to leverage customer satisfaction analysis to understand customer’s evolving needs and adapt to today’s competitive marketplace.

CONTACT US to learn how customer satisfaction analysis can help you understand your customer’s experience with the brand.

benefits of market segmentation

Tackling Customer Churn and Elevating Sales for a CPG Company – Infiniti Research’s Customer Needs Analysis Engagement

Customer Needs Analysis for a CPG Company

The Canadian consumer packaged goods (CPG) industry is growing exponentially and presents huge opportunities for CPG companies around the globe. Despite this steady growth, convenience and rapidly changing market realities makes it vital for CPG companies to understand customer needs and buying patterns. Also, the increasing market volatility necessitates companies operating in the CPG industry to have an agile operating model that keeps pace with evolving customer needs and demands. This is where CPG companies realize the importance of leveraging customer needs analysis.

Customer needs analysis solutions can help CPG companies to keep pace with their customers’ needs and requirements. Request a FREE brochure to gain more insights into our services portfolio and to know how our customer needs analysis solution can help your business thrive in today’s competitive marketplace.

Business Challenge

The client is a CPG company based out of Canada. The client launched a new product in the market. But, the newly launched product was losing ground to competitive products due to their inability to meet customer needs and demands. Also, the client was facing difficulties in identifying profitable customer segments to promote their product offerings. With this, the company witnessed a decline in their sales rate. Also, the client noted an increase in customer churn rate. The client, therefore, approached Infiniti Research for a solution.

With Infiniti’s customer needs analysis solution, the CPG company wanted to identify their customers’ unmet needs, purchase behaviors, and spending habits. Furthermore, with Infiniti’s customer needs analysis solution, they wanted to better understand product features that would drive consumer purchase and satisfaction.

Solutions Offered and Value Delivered

The experts at Infiniti Research followed a three-phased approach to customer needs analysis. In the initial phase, the experts conducted market research of the Canadian CPG industry to identify unmet needs of the customers’ and understand other purchasing drivers and barriers. The next phase involved conducting internal sales data assessment and customer surveys with the client’s target customers. This phase also included analyzing the vital features of competitive products that drove consumer satisfaction. In the final phase of customer needs analysis approach, the experts segmented the client’s customer group based on their needs and demands.

With Infiniti’s customer needs analysis solution, the client was able to increase their sales and market share by focusing on personalizing their product offerings according to customers’ needs and requirements. Also, by segmenting customers into various categories based on their demands, the client was able to realign their marketing activities and distribution process to meet customer needs.

The client was able to reduce customer churn rate by 11%. Also, the CPG company gained 7.5% retail share in their new product category over the course of two years, generating millions of dollars in revenue.

With customers’ needs and demands changing dynamically, companies often lose track of their changing customer needs. Are you finding it difficult too? Request a FREE proposal to know how our customer needs analysis solutions can help your business to attract new customers and reduce churn rate.

What is customer needs analysis?

Customer needs analysis is defined as the process of identifying the evolving needs and demands of customers relative to a product or service. Customer needs analysis is used in various phases of the business process, including product development, product marketing, customer value analysis, and customer segmentation approaches. For businesses to be good at marketing, it becomes imperative to understand and satisfy important needs of customers in relation to their products and services. By doing so, companies can increase sales conversion and customer satisfaction.

Customer need analysis methods

The radical shift of consumerism in the CPG industry demands CPG companies to understand the needs and demands of customers to gain a competitive edge in the market. Wondering where to start? Our customer needs analysis solution can help. CONTACT US to leverage our customer needs analysis solution.

customer satisfaction

Weekly Round-up: A Storyboard on Customer Satisfaction Analysis and its Importance in a Fast-Evolving World

LONDON: Infiniti Research, a leading customer intelligence solution provider, has announced the release of their new storyboard series on the benefits of leveraging customer satisfaction analysis for businesses.

In today’s rapidly changing business scenario, customers are more empowered and connected as they have access to information anytime, anywhere. This makes it vital for businesses to analyze customer behavior and measure customer satisfaction. By leveraging customer satisfaction analysis, companies can gauge the degree to which their product and service offerings meet or exceed customer expectations.

Infiniti’s customer satisfaction analysis has helped several organizations to glean customer insights and drive sales through growth, customer acquisition, and retention. Below we have listed some of the latest articles and success stories which will give you concrete reasons on why customer satisfaction is important for your company.

Request a FREE brochure to know more about our portfolio of customer satisfaction analysis services and their importance for businesses.

#1: Quintessential Guide to Measuring Customer Satisfaction: Most Fortune 500 companies today accept that analyzing customer satisfaction helps companies reduce customer churn. Today, organizations have no choice when it comes to satisfying their customers. Analyzing customer satisfaction has become vital for businesses. However, at this point, it is essential to explore customer satisfaction metrics. This latest article from Infiniti Research explains some of the best practices to measure customer satisfaction.

The Quintessential Guide to Measuring Customer Satisfaction

#2: Reducing customer churn with customer satisfaction analysis: Identifying and retaining profitable customer group is a daunting task for every business. Are you facing a similar challenge? Infiniti can help as they helped another client facing similar issue. With Infiniti’s customer satisfaction analysis, the client was able to understand the needs of their patients and improve their services. As a result, they were able to build more trust among their customers, which subsequently elevated patient experience and reduced customer churn.

Customer Satisfaction Analysis: Elevating the Patient Experience and Reducing Customer Churn for a Home Health Care Services Provider – Infiniti Research

#3: Customer satisfaction engagement enhanced customer lifetime value: Offering personalized services to customers is a real challenge. But, leveraging Infiniti’s customer satisfaction analysis can make a difference. This success story explains how measuring customer satisfaction helped the company offer personalized services to their customers and increase customer lifetime value.

Infiniti’s Customer Satisfaction Engagement Helped a Financial Services Provider to Increase Customer Lifetime Value and Decrease Churn Rate by 20%

#4: Enhancing customer experience for a retail company: Personalized customer experience is a proven method for organizations to improve sales and customer retention rate. But this is extremely difficult understanding customers’ demands and requirements. Find out how Infiniti’s solution has helped a retail store examine customer requirements and improve their standards of product offerings by bringing them in line with the demands of customers. This has further helped the company improve customer experience and loyalty.

Infiniti’s Customer Satisfaction Analysis Helps a Retail Store to Improve Customer Experience

#5: Enhancing customer satisfaction rating for an airline company: Obtaining meaningful insights from vast customer datasets is one of the most difficult tasks for businesses to perform. Infiniti has helped a leading airline industry client facing  similar business challenge. The analysis further helped the client generate insights around various relevant business aspects such as marketing costs and competitors’ impact on their customers, by using multiple optimization techniques.

How Infiniti’s Customer Satisfaction Survey Helped an Airline Industry Client to Improve Their Customer Satisfaction Ratings

Companies who have not yet begun tracking customer satisfaction level are dealing with increased customer churn. Are you one among them? If yes, request a FREE proposal to know how our solutions can help you in improving customer experience.

 

#6: Advantage of customer satisfaction surveys for a packaging company: Conducting customer satisfaction surveys can help businesses decrease customer attrition. Wondering how? By predicting customers that are more likely to churn and then developing the right proactive campaigns to retain them. Infiniti’s client adopted the same approach and gained insights on market trends that helped them make necessary adjustments in their product development approach and marketing strategies.

Indubitable Advantage of Customer Surveys for a Returnable Packaging Company: Understanding the Drivers Behind Customer Satisfaction and Loyalty

#7: Improving customer satisfaction level by 10%: Identifying high-value customers and proactively interacting with them are two essential components behind the success of every business. This success story from Infiniti Research highlights how our analysis helped a private banking firm meet the requirements of their customers through a targeted approach. Also, this study explains how the company developed effective marketing strategies to generate maximum value.

Customer Segmentation Study: How Infiniti Helped a Renowned Client in the Private Banking Sector Improve Customer Satisfaction Levels by 10%

#8: Customer satisfaction survey for a financial services provider: Customer satisfaction survey for a financial services provider proved to be very helpful in identifying customer data for actionable insights and paved a way for developing the right approaches. Also, this resulted in increasing customer experience and improving satisfaction levels. Read this success story to know how.

Global Customer Satisfaction Survey for a Leading Financial Service Provider

#9: Developing customer segment-specific action plans for an equipment manufacturer: We recently completed a study for a fuel handling equipment manufacturer. The company wanted to measure the satisfaction of customers regarding its products and services. By conducting a ‘voice of customer’ study, the experts at Infiniti Research helped the client develop customer segment-specific action plan to improve satisfaction rate.

Customer Satisfaction Study for a Fuel Handling Equipment Manufacturer

#10: Improving product and service quality: Embracing change is the only way by which companies can stay ahead of their competitors. Traditional research and customer surveys can no longer help. This success story highlights how the client was able to understand the key concerns of customers regarding their product and how they improved their product and service quality to drive greater satisfaction.

Customer Satisfaction Assessment for Fetal and Neonatal Care Equipment

CONTACT US to learn more about our services.

Answers to the questions

Analyzing Customer Behavior and Understanding Purchasing Drivers and Barriers for a Food Industry Client with the Aid of a Customer Needs Analysis Engagement

Identifying Unmet Needs and Customer Perceptions 

About the Client 

For over 7 years, the client has been a leading firm in the food and beverage industry, serving customers throughout the Western United States and South America.

Business Challenge:

With rising competition, latest technological advancements, and changes in customer preferences, companies in the food industry need to embrace new models and strategies to compete in the marketplace. This makes it vital for companies in the food industry to gain detailed insights into the competitors, understand customers’ needs and preferences, latest market trends, and consumer buying patterns to better position their products and services in the target markets.

A leading firm in the food and beverage industry wanted to assess customers’ perception of their current offerings and strength of competing brands. The client realized that as technology improves, and the customers’ need advances, identifying the unmet customer needs was the only way to keep up their market position. Moreover, without a strategic approach to customer needs analysis, they encountered costly risks from demand and supply mismatch, which affected their customer satisfaction and resulted in revenue losses for the company. By leveraging Infiniti’s customer needs analysis, they wanted to define current and future customers’ unmet needs and understand customers’ buying criteria.

Are you looking to identify and meet your customer needs? Well, this can be a daunting task if you haven't paid close attention to customer needs before.

Learn how Infiniti’s customer needs analysis can help. Request a FREE brochure.

Top Challenges Faced by the Food Industry Client 

Problem Statement 1: Demand for convenience

Tech-driven delivery systems have disrupted the traditional business model. With technological advancements in the food industry, customers have become more demanding. This compelled the client to leverage Infiniti’s customer needs analysis solutions to meet customer demands and ensure convenience.

Problem Statement 2: More discerning tastes

Today, customers have become more discerning. They are seeking out exciting and higher-quality meals. Due to this trend, the client realized the need to leverage customer needs analysis to better meet customers’ demand and sustain their market position.

Problem Statement 3: Opting for healthier foods

The modern customers’ emphasis on health has extended beyond the gym, leading to healthy eating habits. Hence, the client’s unstructured approach to customer needs assessment resulted in revenue losses for the company, leading to a sharp decline in their market position. With the help of Infiniti’s customer needs analysis solution, the client wanted to continuously improve the quality of their products by monitoring the initiatives undertaken by their competitors.

Problem Statement 4: Retaining profitability

Owing to commodity price shifts and dynamism in the market, the client found it challenging to retain their profit margins. By leveraging our customer needs analysis solution, they wanted to develop a standardized set of processes and competitive benchmarking metrics.

Customer needs are dynamic, and most companies often lose track of their changing customer needs. Are you finding it challenging too?

Get in touch with our experts to leverage our customer needs analysis.

Solutions Offered and Value Delivered 

The experts at Infiniti Research recommended a two-phase study to meet the client’s challenges.

Phase 1: Qualitative analysis

The initial phase of the customer needs analysis engagement focussed on identifying customers’ unmet needs, understanding purchasing drivers and barriers, and assessing customers’ perceptions of current offerings. By conducting interviews, surveys, and discussions, the experts figured out the needs of the customers and the market. This helped the client to implement better branding strategies and marketing initiatives to enhance their service offerings for the target market.

Phase 2: Quantitative analysis

The second phase of customer needs analysis engagement revolved around quantifying market perceptions, evaluating the most preferred product features, and the introduction of new products. The experts at Infiniti performed a thorough internal sales data assessment and an extensive customer survey to segment customers by needs, to compare performance against competitors, and develop value propositions to stay ahead of the competition.

With the help of Infiniti’s customer needs analysis, the client was able to increase their sales and market share by focussing on upgrading their product features. This further helped the client in successfully implementing the new customer segmentation approach and realigning their delivery system, as well as distribution and sales process based on customer needs.

The customer needs analysis solution further helped the client to understand their customer needs and their position in the overall market. They were able to introduce new products in the market, which subsequently enhanced the customer experience and improved profit margin by 13% in a year.

Finding it difficult to identify unmet customer needs? Our customer needs analysis solution can help. Request a FREE proposal!

What is a customer needs analysis?

A customer needs analysis is used in product development and branding to provide an in-depth analysis of the customer to ensure that the product or message offers the benefits, attributes, and features needed to provide the customer with value. To find the right customer priorities, businesses need to create buyer personas and uncover consumer trends, look at customer’s long-term retention patterns, establish a clear company vision, provide premier customer service to valuable customers, and communicate with the ideal customer in their preferred social media space.

How can you identify customer needs?

To be good at marketing you need to be good at understanding and satisfying the most important needs of your customers in relation to your products or services.  By understanding their most important needs you can tailor your product and service offering and shape your brand to meet their needs. Given our expertise in performing customer need analysis for various businesses, we’ve listed out the customer needs analysis methods.

  • Identify what your customers need through research, focus groups, or social listening.
  • Mapping customer journey is a great way of undertaking the customer need analysis. It is a visualization of processes that a customer encounters with a product or service.
  • Knowing what your competitors are doing will help evaluate where you stand in the market and identify gaps in your offerings.
  • Analyzing cause-effect relationship ensures better customer need analysis and helps in addressing root-cause problems, thereby enhancing user experience.

Request for more info to know how our customer needs analysis can help your business.

competitive pricing

The Quintessential Guide to Measuring Customer Satisfaction

Measuring customer satisfaction is all about gauging the degree to which the product or service offerings of a company meets or exceeds customer expectations. A customer satisfaction survey highlights the aspects of the products, services, or operational processes that are leaving their customers less than satisfied. Customer satisfaction survey is a great tool for measuring customer satisfaction and loyalty. Moreover, customer satisfaction is integral to business as satisfied customers stay loyal to the brand, buy more, and promotes their experience through word-of-mouth. Several studies show that the cost of retaining an existing customer is only one-tenth of acquiring a new one. So, once you win a customer, it is vital to keep them hooked on to your brand.

How to measure customer satisfaction 

One of the key objectives of business is to create happy and loyal customers. However, measuring customer satisfaction often proves to be more difficult than measuring revenue streams or website visitors. In this blog, Infiniti Research explores some excellent metrics and methods of measuring customer satisfaction.

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telecom industry

The Basics of Creating a World-Class Customer Experience Strategy

Companies that focus on customer experience become successful in reducing churn and increasing revenues – leading to higher profits.

Customer experience definition 

Customer experience(CX) has become the new buzzword for most companies across industries. It may be defined as the customer’s perceptions and related feelings caused by the one-off and cumulative effect of interactions with a supplier’s employees, products, channels or systems. In other words, it is essentially how customers perceive their interactions with your company.

Customer perception and customer interaction are two basic elements of CX. Customer’s overall perception about a brand can occur as a result of single or multiple interactions with a brand while seeking any information or support at different phases of the customer lifecycle. Customer’s interaction with a brand includes various touch points including talking to customer support agent on call and self-service options or live chat.Brochure CTA

What is customer experience management? 

Customer Experience Management is the process by which an organization organizes and manages each customer interaction with their brand across the buyer’s journey. Customer experience management can be defined as the practice of designing and reacting to customer interactions to meet or exceed customer expectations and thereby increase customer satisfaction, loyalty, and advocacy. The objective of customer experience management is to optimize customer interactions, align with the customer’s ideal brand perception, and exceed their expectations to nurture and lay the foundation for long-term customer relationships. In today’s hyper-competitive marketplace, customer experience management is emerging as the key strategy to gain competitive advantage. Most organizations are expected to redirect their investments towards CX  innovations in the future. This also means, that your competitors are more likely to be focusing on customer experience in the future, thereby making it necessary to have a customer experience management software in place. The three essential pillars of customer experience management include:

Know your customers

Brands that have a good understanding of their customers will be able to create awe-inspiring experiences for their customers. It is essential for brands to pay more attention to customer data in order to gain insights about their needs and preferences for delivering personalized experiences.

Devise an optimal customer experience strategy

After identifying the buyer persona, it is crucial to define the customer experience strategy map all the relevant touch points throughout the customer journey. This helps to better plan and organize the brand’s interaction with their customers at each touchpoint.

Measure customer satisfaction

It is imperative to measure customer satisfaction in real time to estimate the success of the customer experience strategy. Customer satisfaction is devised based on regular customer feedback. This will give a clear indication regarding customer perception of the brand.

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