Marc Wouters

2021

Start-ups in the transition stage are often facing the problem of commercializing their product, gaining new customers, and generating customer loyalty, even when they have a great and innovative product and could reach market acceptance. This study presents a framework of how customer satisfaction and customer value can be measured in common. The aim is to get a better understanding of the customers, increase customer loyalty, and modify the market offering to improve the selling process. Therefore, a case study at Tomes GmbH, an eHealth start-up in the transition stage, is conducted. The Customer Satisfaction Index (CSI) is applied to measure the customers' satisfaction with the product, while the monetary quantification of Customer Value Propositions (CVP) is used to measure the customer values. The paper illustrates how the satisfaction dimensions of the company and the points of difference towards the next-based alternative are identified and how the customer values can be converted into monetary terms. To evaluate these, the development of a customer survey is shown. Based on the data, an individual CVP calculation is developed. The implications of the results for the market offering, management, and sales process show the success of this combined measurement. Thus, the research extends the literature by presenting a reference case with exploitable implications for start-ups in the transition stage to confront the challenges that occur at this time.