The ability to understand customer needs is key to the success of any business or public sector organization. Customer satisfaction market research has a central role in ensuring customer needs are properly understood. It is our ability to get behind the skin of customers and provide an independent view which is so critical to developing genuine customer insight.
Much of the value of customer research is derived from analysis of data sets rather than collecting new data, for example, key drivers analysis or segmentation analysis. A key element of customer satisfaction research is understanding the extent to which customers are loyal to the brand, product or service.
Key Drivers Analysis is a statistical technique used to understand which factors most influence a given outcome. It is typically applied in exploring customer satisfaction and customer loyalty data, but it can also be used for brand preference research. Market segmentation allows the marketers to identify specific groups or niches of customers with common interests or needs. Shaping new products, identifying resonant messages or understanding unique needs within those groups underpins market segmentation strategy.