Why Customer Satisfaction is so crucial for your business
By Letizia Zappa
Customer satisfaction may be the single most important measure to grow your business.
Be customer obsessed. Start with what the customer needs and then work backwards
These Jeff Bezos words are at the core of Amazon’s distinctive vision and should work as a mantra for every single business: Be customer-centric. Always.
Being customer-centric means that everything you plan and design should have the aim of fulfilling your customers’ needs and expectations. But how do you know if your customers are content with your business?
The answer to this fundamental question is contained in one simple term: Customer satisfaction.
What is Customer Satisfaction?
Customer satisfaction is a marketing measure developed during the 90s that allows businesses to easily evaluate whether or not their customers are happy with their products. The level of satisfaction among the customers reflects the quality of the products and/or services: this is the concept underlying customer satisfaction, which makes it a valuable measure.
A customer is satisfied when her experience of a product or service meets her expectations and when she believes that her resources are well spent. Hence, the concept of customer satisfaction is rooted in the comparison that customers make between their expectations and their perception of the value and quality of a product or service. This strong link between clients and the evaluation of products and services is at the core of customer satisfaction.
However, at the same time, it is good to remember that even though customers are mainly focusing on products and services, all the touch points and the overall interaction with the company are important for the customer satisfaction as well.
Why is Customer Satisfaction Important?
This valuable measure allows businesses to collect insightful feedback, which can be extremely precious to improve and innovate products and services. There are many reasons to measure your customer satisfaction, but below we have presented the 6 most relevant ones:
Customer satisfaction helps you enhance your customer experience
Customer satisfaction is a great indicator of customer loyalty
Customer satisfaction can reduce customer churn
Customer satisfaction is directly linked to positive word of mouth
Customer satisfaction provides a clear benchmark both towards your own goals and your competitors
Customer satisfaction can represent a point of differentiation
By constantly keeping track of your customers and their feedback it is hence possible to create a virtuous cycle and generate continuous improvements to your business.
Get your hands on the ultimate guide about Customer Satisfaction! Download our White Paper “Customer Satisfaction: Everything you need to know about Customer Satisfaction to grow your business” and get well started measuring your own customer satisfaction.