Happy customers are often the most loyal customers. Period. Measuring customer satisfaction has always been very crucial to the growth of any business across any industry. CSAT (Customer Satisfaction Score) and NPS (Net Promoter Scores) are the gold standards in the research industry for measuring customer satisfaction and loyalty. CSAT is a basic measurement of a customer’s satisfaction with a brand’s product and/or services. While, NPS is an index that measures the willingness of customers to recommend a company’s products or services to others. These are important indices for any business to measure the customer experience, take necessary action and predict growth.
Our client, a leading bank in Sudan wanted to understand the satisfaction level of their customers. Along with this, the bank wanted to understand the satisfaction with various parameters like presence of ATMs, pricing of various services, customer service representative etc. It further wanted to benchmark themselves with the competition to understand where they stand currently.
Primary research with a sample size of more than 1500 across customers of various banks was administered to understand the customer satisfaction and benchmarking. Along with measuring the overall CSAT scores, satisfaction with detailed aspects like presence of ATMs, diversity of services offered, offers & promotions etc were also measured. Further battery of statements were used to measure the perception of various banks. It measured factors like meeting their needs, high quality service, uniqueness etc. Finally, more aspects like their intend to continue with the bank and level of recommending the bank to others were also captured
Client was able to gain deeper insights on the customer satisfaction and problems faced across various pain points and act on areas where there was a scope of improvement. Further, they were also able benchmark themselves with the competition and also understand the expectation of the competition customers. It also enabled them to derive and focus on the marketing strategy to acquire new customers as well as retain the current ones.