Customer Satisfaction Score (CSI)

Assessing customer satisfaction using the CSI method is an assessment of a company’s performance based on a number of parameters. It provides answers to a number of important questions.

• - What is the general attitude of clients towards the company?
• - How do individual divisions of the company and individual employees work?
• - Are clients satisfied with the timing and ease of working with the company?
• - What parameters of the products or services provided should be changed to increase sales?
• - How to improve feedback with customers in general?

As a result of the customer satisfaction assessment, the company receives all the important information not only regarding the current performance assessment, but also about the level of loyalty. This information makes it possible to change the company's business processes or product/service characteristics that negatively affect purchasing behavior.

According to statistics, only 12–15% of consumers are completely satisfied with the quality of the products sold by the company or the services provided. This small group of loyal customers brings the average company between 55 and 90% of its profits.

An increase in the number of customers with maximum satisfaction and loyalty, even by 1-2 percent, leads to a significant increase in revenue.

Having received the results of a professional assessment of the satisfaction of existing customers, the company can get rid of the problems identified by customers and enhance the benefits within a reasonable time.

As practice shows, correctly used customer satisfaction assessment results help companies increase sales by up to +20%.

Many companies track the CSI index. Often this analysis of the indicator is carried out regularly (once a month, every quarter or every six months), since the profit received directly depends on customer satisfaction.

A great example is statistics from IBM. According to the company, every 1 point increase in its customer satisfaction score on a 100-point scale leads to a $5 million increase in revenue.

Moreover, satisfied customers are loyal customers. Retaining existing loyal customers costs on average 5–20 times less than attracting new ones. Satisfied customers support the desire to attract new customers because they refer friends and acquaintances. Customers are the best marketing tool because they have closer contact with potential customers than any sales manager.

The survey sample size depends on the size of your customer base. The average response rate to such surveys is about 40% (with a “live” database). Therefore, if the customer has a small customer base (less than 20,000 customers), a minimum representative sample size (400 questionnaires) is suitable for conducting a satisfaction assessment.

BCGroup specialists will conduct this number of interviews in 10 working days. It will take about 3-5 days to analyze the data.

The final cost of the satisfaction assessment depends on:

- number of questionnaires (payment is taken only for completed customer surveys, that is, for completely completed questionnaires);
- costs of analytics (10–15% of the cost of the survey)

You can calculate the cost of one questionnaire yourself using our calculator (you will need to enter the number of open and closed questions in the questionnaire, quotas)

The cost of such a study is from 2000 £ (the cost is indicated for a minimum sample).

Experts use the CSI composite index to assess customer satisfaction. It is used especially often in the B2B sphere.

The comprehensive CSI index takes into account a large number of important parameters (satisfaction with the quality of service, level of service, delivery times, etc.). Their list is determined for each company individually.

Customers perceive satisfaction surveys positively; often the very fact of conducting an assessment increases loyalty to the company.

Customer satisfaction assessment using the CSI method is constructed as follows:

1. A BCGroup specialist clarifies the parameters and their importance. If a company has operating standards, they are taken as a basis. Otherwise, the specialist develops a survey form, taking into account the specifics of the company’s activities
2. The final version of the questionnaire is agreed upon
3. An NDA confidentiality agreement is concluded
4. The company provides the BCGroup employee with customer contacts necessary for surveys. Once the collection of information is completed, this data will be deleted
5. Specialists conduct surveys in a short time. Interviewers can interview up to 5,000 people per day
6. Upon completion of data collection, a BCGroup employee transfers to the customer the entire array of information in SPSS or Excel format. Specialists begin to analyze the completed questionnaires
7. After 3–5 days, the customer receives a detailed report containing the research results and an executive presentation