Exhibit 6.7 Structure of a relationship survey.
Whereas transaction surveys
focus on the immediate, and are tactical in nature, relationship surveys are
more strategic, measuring in detail the relationship between customers and the
company. They encompass perceptions of service and product quality, range and
variety, competitiveness of the offering, and service culture and ambience.
The structure of the relationship survey is
depicted in Exhibit 6.7. Whereas the transaction survey is centred on individual
transactions, the relationship survey cuts across the totality of the
relationship with the customer. As such, it
should not be linked to the incentive scheme for line management and staff.
The first step in analysing the data from a
relationship survey would be to summarize information contained in the large
number of attributes into a smaller number of factors, through factor analysis.
Exhibit 6.8 Large number of attributes summarized through factor
analysis.
Taking the hypothetical retail banking example, Exhibit
6.8 depicts the output of a factor analysis. Note that the factors are named
post factor analysis by the researcher based on the attributes that define the
factor. For instance, the attributes “Bank close to home/office”, “Convenient
ATM locations” and “Superior internet banking facilities” suggest
“Accessibility”.
Relationship surveys are usually conducted on a periodic
basis, annually or quarterly. Since they tend to be relatively long, computer-aided
phone interviews are preferred over online surveys.
Hybrid Surveys
While in theory customer
satisfaction research adopts two different instruments (transaction and
relationship survey), each serving a distinct purpose, in practice it is
possible to combine the studies into a single hybrid survey. The hybrid, unlike
the transaction survey, is more likely to be administered quarterly than on an
ongoing basis. It is nonetheless feasible to link the feedback to specific
transactions. And though this approach might not be as elegant as the separate
transaction and relationship surveys, it does reduce costs.
