Industries Served

Energy

A demonstrable statistical link between overall customer satisfaction scores from the C-CUBES.

Energy

C-CUBESTM Energy Benchmark?

  • Started in November 2017 as an industry-specific deep dive into perceptions of the most prominent energy firms in the country.
  • Respondents rate the top 50 national energy companies on the same dimensions captured in the B2B benchmark.
  • Respondents also rate energy companies on industry-specific issues such as safety
  • C-CUBESTM researchers have developed a demonstrable statistical link between overall customer satisfaction scores from the C-CUBESTM Energy Benchmark and financial performance such as sales, EBITA, margins and pricing power.

Briefs

Growing Sales in the Oil and Gas Sector

By | Briefs, Energy: Briefs

CUSTOMER SATISFACTION

Companies in the oil and gas sector are beginning to feel optimistic in 2018. The average price of crude oil in 2017 was 24.6% higher than it was in 2016 and 2018 seems to be shaping up positively.

With this enthusiasm, companies may wonder what strategies may help them increase sales. One proven strategy would be to focus on increasing customer satisfaction.

 

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Power-Up PPI

By | B2B: Briefs, Briefs, Energy: Briefs

COLLABORATIVE FOR CUBES™ BREAKS DOWN PRICE ELASTICITY.

To remain profitable, companies must have pricing power. They must have the ability to raise prices while maintaining relatively stable unit sales. And at the 100,000-foot level, where CEOs are looking to examine the financial outcomes of their actions, B2B companies struggle to increase pricing power.

The concept of pricing power is associated with price elasticity, or price sensitivity. The more price-sensitive a consumer, the more negatively the consumer will react to an increase. Companies with higher relative pricing power find customers react less negatively to a price increase. Thus, they are able to maintain stable unit sales when they enact an increase.

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Multiplier Customers

By | B2B: Briefs, Briefs, Energy: Briefs

COLLABORATIVE FOR CUBES™ HELPS TARGET PROFITABLE NEW CLIENTS.

All customers are not the same. Some generate only one-time business. Others can help grow a firm organically through repur- chasing, recommending the business to peers, inviting bids on new business, and offering positive word-of mouth. Customers who engage in these behaviors are “multiplier customers”: they help firms multiply their business growth.

Multiplier customers who offer peer recommendations and repeat business are especially critical for industrial business-to-business (B2B) companies that offer specialized products and solutions to meet complex customer needs and for whom the cost of customer acquisition can be high. Without multiplier customers, B2B companies see increased customer acquisition costs, may have lower sales per customer, and fail to deliver the desired financial results.

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Research Articles

B2B: Research ArticlesEducation: Research ArticlesEnergy: Research ArticlesResearch ArticlesRetail: Research Articles

Customer Satisfaction, Loyalty Behaviors, and Firm-Financial Performance: What 30 Years of Research Tells Us

CARLY FRENNEA AND VIKAS MITTAL The authors synthesize research on the relationship between customer satisfaction (CS) and customer- and firm-level outcomes in a meta-analytic framework. Overall, the results point to positive associations between CS and customer behaviors, financial performance, and shareholder value. However, the magnitude of the relationship between CS and firm-level outcomes is smaller than that between CS and customer-level outcomes. Moderator analysis shows substantial variability in the effect sizes reported across customer-level studies, which can be partially attributed to contextual factors and measurement characteristics. The authors conclude with a discussion of the theoretical and managerial implications of these…
February 20, 2018
B2B: Research ArticlesEducation: Research ArticlesEnergy: Research ArticlesResearch ArticlesRetail: Research Articles

Four Fatal Flaws of Strategic Planning

EDWARD A. BARROWS JR. Strategy execution is drawing a lot of attention these days, but that in no way means companies have abandoned their time-tested strategic planning processes. In fact, as far as management tools are concerned, strategic planning is as popular as ever, with 88% of large organizations engaging in some form of formal strategic planning, according to Bain & Company’s global 2007 Management Tools and Trends survey. This number may still be on the rise as economic conditions force companies to search for new ways to jump-start business growth. Barrows, Edward. "Four fatal flaws of strategic planning." Harvard…
February 20, 2018
B2B: Research ArticlesEducation: Research ArticlesEnergy: Research ArticlesResearch ArticlesRetail: Research Articles

Customer-Centric Org Charts Aren’t Right for Every Company

JU-YEON LEE, SHRIHARI SRIDHAR AND ROBERT W. PALMATIER The new conventional wisdom on corporate structure is that companies can do better by organizing themselves around customer groups. The logic sounds compelling: A customer-centric structure, as the approach is known, can help a company understand its customers better, develop deeper relationships with them, and improve customer satisfaction. Some 30% of Fortune 500 firms, including Intel, Dell, IBM, and American Express, are already on board, and the numbers are growing all the time. READ MORE
February 20, 2018

Press Features

Why Houston energy companies should focus on customer satisfaction over tech

April 27, 2018

The Unequal Effects of Partisanship on Brands

March 26, 2018

Oil and gas customer satisfaction leads to increased sales

March 16, 2018

What would happen if Houston-based companies got Yahoo-ed?

December 23, 2016

Seven Ways to Maximize Your Company’s Customer Satisfaction ROI

American Marketing Association

How global companies can market to local customers

October 20, 2016

Do Oilfield-Services Companies Strategically Manage Customers and Employees? Halliburton, National Oilwell Varco, and Schlumberger

March 1, 2016

Employee Layoffs in Oilfield Services Companies: Panacea or Poison?

August 19, 2015