Practical Methods to Understand What Drives Customer Satisfaction
This post is adapted from a live webinar, Practical Methods to Understand What Drives Customer Satisfaction, which you can replay in full by clicking here.
Feedback to Action is our latest rallying cry at Clicktools. Indeed, action is the main reason why any organization should collect feedback in the first place. Acting on feedback allows you to improve customer satisfaction, engagement, experience, and ultimately, business outcomes. But, in order to strategically act on feedback data, you must first be able to analyze it.
Among the numerous statistical approaches to analyze feedback data, there are many to consider, including benchmarking, thresholds and target setting, structural equation modeling, and others. The best, most useful method(s) will vary depending on your organization’s specific goals.
For today, let’s take a look at two basic statistical analysis methods that can help you better understand what drives overall customer satisfaction. The first method — key driver analysis — enables you to extract greater value from your survey responses. The second — gap analysis — helps you measure satisfaction with what your customers feel are the most important areas of your business.
1. Key Driver Analysis: This method correlates a set of variables (questions) against a dependent variable (question) to establish the strength of the relationship between them. The dependent variable is one that is impacted or influenced by another variable – also called an “outcome variable.” Common dependent variables would be things such as Overall Satisfaction or NPS. The independent variable is one that directly impacts or influences a dependent variable. In a service or call center environment, these would be things such as “Time to get through to an agent,” “Knowledge of the agent,” and “Friendliness of the agent.”
Once you’ve collected both the dependent and independent data in your surveys, you can then use Clicktools to plot that data into a graph (dependent data on the Y axis and independent on the X axis). This will reveal the key drivers of your dependent variable. For example, you may discover that “Time to get through to an agent” has the strongest influence on Overall Satisfaction.
2. Gap Analysis: This method allows you to identify gaps between your existing customer journey(s) and the ideal journey(s). In other words, it helps you determine the areas within your business that require the most attention and the greatest need for action.
Using your Clicktools surveys, you can ask customers how you’re doing in certain performance areas, again via questions such as “Time to get through” or “Friendliness of the agent.” Using Gap Analysis, however, you also ask customers to rank how important each of these areas are to them. This method will reveal the difference (i.e. the gap) between what matters to customers and how well you perform against those rankings.
That’s a very quick overview on two analytical methods that allow you to extract greater value from your feedback data. Please reach out to us at email@example.com at any time for personal direction on applying these or other statistical approaches. For a much more detailed presentation on this subject, including insights into The Strategic Window and how best to act on your feedback data, please watch the webinar Practical Methods to Understand What Drives Customer Satisfaction, which you can replay in full by clicking here.