The success drivers of Customer Satisfaction and Retention include Service and Support, customer trust relationship, meeting customer expectations, maintaining customer touch points, sales experience and exit barriers.
Customer retention can be enabled by ethical exit barriers, which not only helps retain the customer but also add to customer satisfaction. These include understanding customer domain, exit clauses in contracts, your terminal in customer's premises, providing value-added services etc.
Customer Satisfaction and Retention (CSR) are closely but not completely interlinked. CSR needs to be optimized for maximizing shareholder value. Sticking to fundamentals is key to CSR over and above the customer expectation and perception management.
Single customer view is key to doing any kind of analysis on CSR. Another challenge is the customer feedback and survey data which can be incomplete and also descriptive. Either way it is recommended to having frequent gathering of customer feedback.
