We recently worked with a company trying to fix their high customer attrition rate with annual customer satisfaction surveys. Their survey project was successful. Fixing the attrition rate was not.
The company measured satisfaction, and the numbers said customers were not satisfied. To raise the numbers, the company formulated and implemented action plans. Sounds like a solid plan, right?
The problem: the company was measuring how their customers felt, but not why they felt that way. They knew perception of their services was low, but couldn’t figure out why. Measuring satisfaction provides no predictive analytics that score the likelihood of renewal.