Cedar Consulting delivers customer loyalty analysis for two clients
With consumer and supplier demands rapidly evolving, keeping a close eye on stakeholder experiences is the need of the hour across sectors. Cedar Consulting recently helped two of its clients in India with leveraging the Net Promoter Score (NPS) approach to measure their customer loyalty, and address pain points and opportunities.
The first project was at a client in the building construction landscape. A market leader in the architecture segment, the client brought in the expertise of Cedar Consulting to support with a Net Promoter Score analysis for its activities across India. The key objective: gain insight in customer loyalty and the likelihood of promoter referrals.
The project followed a three-stage approach: data collection, spanning an NPS survey, interviews and desk-analysis of previous NPS surveys; analysis of results across target groups and regions; and recommendations, which saw a final report including suggested actions delivered to the client’s management team.
Overall, the project found that the building construction company enjoys an NPS of 49% – which suggests a strong market standing based on the client’s high product quality, brand value and technical support. A significant variation is however visible across the main target groups, with dealers (the channel partners), contractors (the final users) and architects (delivery partners) scoring an NPS score of 50%, 38% and 56% respectively.
From a competitor viewpoint, the client was found to have a market leading customer loyalty position. The only area of concern identified in this regard was in the commercial space, with dealers and contractors seeking more room to be able to use alternative brands or local sourcing.
Meanwhile, for another client, a leading player in the aluminium and copper manufacturing industry, Cedar Consulting conducted a similar NPS-based benchmarking study to help the company understand how stakeholders perceive its product and service offerings. The outcome of the analysis serves as an important input to its growth and marketing strategy formulation for the coming years.
In similar fashion, Cedar Consulting designed a survey, ensured the delivery to stakeholders, and complemented the data gathering with input from over 100 primary research interviews.
The final report put forward a number of findings, one of which being that price and payment flexibility are critical drivers of customer purchasing decisions. The same accounts for consistent product quality and availability. The recommendation: consolidate and invest further in these elements to maintain a competitive advantage vis a vis competitors.
Other recommendations were geared at how market share could be improved through enhanced pricing perception management in the specialised alumina segment, and rolling-out initiatives that boost customer-centricity such as product workshops, co-working on product development, and more sales and marketing efforts.
