Leading by ten years – Part 5
Customer Satisfaction
Why Customer Satisfaction Is Important to any
organization ?
Customer satisfaction survey is a method to measure how
products or services supplied by a company meet or surpass a customer’s
expectation.
Customer satisfaction is important because it provides
marketers and business owners with a metric that they can use to manage and
improve their businesses. In one survey, 69 percent of marketing managers responded
that they found a customer satisfaction metric very useful in managing and
monitoring their businesses. Customer satisfaction is the best indicator of how
likely a customer will make a purchase in the future.
Here are the top six reasons why customer satisfaction is
so important:
- Increases customer lifetime value
- Reduces negative word of mouth
- Cheaper to retain customers than acquire new ones
- Leading indicator of consumer repurchase intentions and loyalty
- A point of differentiation
- Reduces customer churn
