Customer Satisfaction Research

There is no reality. What the customer feels is the actual reality. Customer perception is the only reality when we talk about the quality of service.

Why is the customer satisfaction so important? We can observe a kind of relation between the level of customer's satisfaction and the general condition of the company. Researchers from Michigan have stated that the increase in satisfaction by 1% depends on the increase of ROI by 2.37%.

Thousands of people maintain close contact with financial service providing companies every year. These contacts determine the success of the company. During these contacts we have to persuade the customer that he has made the right choice.

Concepts - quality and satisfaction - are used to substitute each other, though many researchers believe that the quality of service is one of the components of client satisfaction. Price and quality compliance, company image, personal and situational factors are also influencing customer satisfaction.

The aim of customer satisfaction research:

Studying the customer anticipation and defining changes of anticipation within certain period of time;

Studying the characteristics of service quality and identifying problem features;

Determining the weights of service quality characteristics in creating the customer satisfaction;

Calculating the index of customer satisfaction for financial institutions, their branches and separate financial products;

Studying the customer loyalty;

Studying the dynamics of service quality changes, satisfaction and loyalty indices in within certain period of time;

Working out recommendations for integrating research results in organization quality management strategy;


Customer satisfaction is a combined variable that is being influenced by many factors. At the first stage, the main goal of the research approach is to identify these factors, and service quality factors among them, which are important for the customer and influence the satisfaction. This problem is solved at focus groups. Focus groups are conducted with customers as well as the staff of financial service providing companies.

The second stage is qualitative research conducted with customers.

Satisfaction rating scales are used in evaluating different attributes. Analyzing these attributes gives us the result of combined evaluation of satisfaction. The weight of each attribute participates in calculating the customer satisfaction index.

Volume of Selection

The volume of selection depends on:

The number of branches of financial service providing company

The number of sales channels of financial service providing company

Periodicity of the Research

Periodicity of the research depends on the type of financial institution and the volume of sales.

Mostly spread periodicity - twice a year

Loyalty Index

The following variables participate in calculating the loyalty index:

Desire of recommending financial institutions

Desire of using financial products in the future

Desire of replacing the serving financial institution

Customer Satisfaction Research helps you

To plan trainings for your staff reasonably

To timely determine the necessity of changes in terms of service quality

To make service quality the top priority of your company

Field of application

Planning the organization quality management strategy

Forming the organization image strategy

Forming the complex vision of customer loyalty and introducing it in the company.