Importance of customer satisfaction in business
Answers
Why customer satisfaction is important?
1. A Loyal customer is a treasure you should keep and hide from the world
According to the White House Office of Consumer Affairs, on average, loyal customers are worth up to 10 times as much as their first purchase. Some research says that it is 6-7 times more expensive to acquire a new customer than it is to keep a current one.
Banks or mobile providers know it best, so they don’t have any problem with going the extra mile for a customer who is not quite satisfied and often offer him something special. Not only it is more expensive but also much more difficult to keep existing and loyal clients (let alone keeping them fully satisfied and happy!) than to gain some new ones.
Take this rule into account while organizing your customer service processes and do your best to look after them.
2. They can stop being your clients in a heartbeat
Is not rocket science, nowadays clients easily switch their love brands. It is often caused by terrible customer service. Clients waiting for ages to get feedback or comment from a brand? Unacceptable! But it still happens. And gaining clients’ trust takes up to 12 positive experiences to make up for one unresolved negative experience.
“When customers share their story, they’re not just sharing pain points. They’re actually teaching you how to make your product, service, and business better. Your customer service organization should be designed to effectively communicate those issues.” – Kristin Smaby, “Being Human is Good Business”.
You can’t gain customers’ satisfaction forever, you need to look after them all the time. Try to talk to them, instead of to them. Ask questions, offer constant support, send personalized messages or offers, use targeted website surveys, email surveys or any other technique that will help you communicate with your customers.
Take care of each and every one of your clients’ need and you’ll be rewarded with their gratitude and loyalty. Sounds like a good deal, doesn’t it? Brands often take their audience for granted, and they’ve never been so wrong – one decision, or lack of it, can result in losing a lot of clients and their respect.
That’s why measuring clients’ satisfaction is so important.
3. It’s (all) about the money, too
It shouldn’t be surprising, but customer satisfaction is also reflected in your revenue. Customers’ opinion and feelings about the brand can affect, in both positive and negative way, the essential metrics – such as the number mentions and repeated transactions, and also customer lifetime value or customer churn.
Happy customers won’t look at your competitors offers – they will happily interact with your brand again, make a purchase and recommend the product further. If you meet all of their requirements and answer their needs while delivering the best quality of your services, they will be fully satisfied.
Not to mention your brand will increase sales revenue!
Measuring customer satisfaction should become your daily habit – not something you do from time to time and only if you’re about to face crisis management. If you don’t know how to do it right, you can take a look at our guide to measuring customer satisfaction to make things easier.
4. Customer satisfaction is a factor that helps you stand out of the competition
Kate Zabriskie once said that “Although your customers won’t love you if you give bad service, your competitors will.” and we couldn’t agree more.
Your competitive rivals are just waiting for you to make a wrong move. What is more, they can often play the role of an instigator. Being prepared for their provocations is not enough if you don’t know how to deal with the negative backlash.
However, if you provide your customers with amazing customer service, you will gain arguments to convince those uncertain of your services.
5. Great customer experience can take your brand places
The importance of customer satisfaction should never be neglected. You should consider it especially while planning your marketing and positioning campaigns. Satisfied customers are more likely to share your content across social media.
They will also more keenly interact with your posts, leaving some delightful and admirable comments. Later you can use it as the source for case studies and success stories. Being an example of a company that provides a ravishing customer satisfaction? Every brand should aim for it.
Final thought
Providing great customer service will satisfy both you and your targets. They get proper service, you get a proper revenue and everyone is happy.
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There are many literary works done on the importance of customer satisfaction.
Explanation:
- These papers say and insist the importance of customer satisfaction. Customer satisfaction is utmost information in any business.
- Depending upon the customer satisfaction only our business will grow or demolish. Hence the importance of customer satisfaction is insisted by many people.
- Also many papers are published on the basis of customer satisfaction. We have to research on the complaints made by the customer in the market and look to improvise it in our business.
To learn more:
1. Imaginary conversation between narayana murthy and you when you met him:
https://brainly.in/question/9127023
2. The software company promoted by Narayana Murthy is (a) Wipro (b) Infosys (c) Satyam (d) HCL:
https://brainly.in/question/9193714