Customer Insight Analysis (CIA)
Developed by Sensei Marketing Inc., the Customer Insight Analysis (CIA) is a survey-based management tool that identifies and prioritizes actions that will increase the value of your existing customers. The program is designed to identify all the touch points your brand has with customers, and measure the impact each has on the customer’s view of his or her relationship with your business.
By identifying, measuring, and benchmarking these touch points, Sensei can detect blockages in the customer journey – from lead generation to customer advocacy – that positively or negatively affect customer life time value and business profitability. This allows us to provide strategic recommendations, based on empirical data that will improve customer engagement, customer value, and overall customer satisfaction.
CIA Answers the Following Questions
The Customer Insight Analysis provides a powerful suite of tools to help your company improve the value of your customer relationships. The report is structured to answer the following 5 questions:
- ❒ How strong are my customer relationships and how are they changing?
- ● The Customer Insight Analysis (CIA) itself provides a numeric benchmark of the state of your customer relationships.
- ● Changes in the benchmark over time can be used to evaluate relationship trends and can also be used to evaluate the success of various initiatives.
- ● The customer Advocacy Ratio measures the relative size of your most loyal customer base.
- ❒ Do I have problems in how I deal with my customers?
- ● CIA is a diagnostic index that is derived from the scores of the various customer touch-points that are pertinent to your customers. (E.g. Product/Service, Call Centre, Web Site, Sales Agents, Distributors, etc.)
- ● In turn, each customer touch-point score is derived from the scores of a series of service attributes that measure key emotional and functional aspects of each relationship dimension. (E.g. Service Attributes for a call centre could include “problem resolution on first call”, ”promptness of answer”, “issue ownership by telephone representative”, etc.)
- ❒ What Are My Action Priorities?
- ● Each customer touch-point and service attribute is individually rated and prioritized on an Impact Index by its importance to your customers.
- ● A prioritization tool called an Initiative Matrix combines the results of the CIA and the Impact Index to quickly rank areas of your company from those requiring immediate repair to those from which best practices examples can be drawn.
- ❒ Which customers represent the most risk?
- ● A unique Risk Segmentation Model categorizes your customers according to their value and their risk of defection to help focus your efforts on the highest priority segments.
- ● The size and the demographics of each segment are analysed to detect common characteristics and to allow targeted action.
- ❒ Which customers represent the most opportunity?
- ● Similarly, the CIA Opportunity Segmentation Model categorizes your customers according to their “size of wallet” and your “share of wallet” to focus you on the highest opportunity segments.
- ● The size and the demographics of each segment are analysed to detect common elements and to allow targeted action.
Is the Customer Relationship Index (CRI) for you?
A company with 250 customers and an annual gross margin/customer of $10,000 can achieve a 1,250% return on their CRI investment by just keeping 5 customers from leaving and convincing 10 customers to buy 50% more. CRI helps you identify customers at risk and customers who are ripe to increase their purchases from your company.
Contact us for a sample report or to learn more about how this service can increase the health of your business’s customer relationships and bottom line.