5 Reasons Why Customer Satisfaction Is Important to Your Business

Have you ever had a customer come back and tell you the product delivered was excellent and I would like to have another new product done by you. This basically shows the customer is not only satisfied but also trusts your work. Customer satisfaction is basically a marketing term that measures how products or services supplied by a company meet or surpass a customer’s expectation. 

Here are some 5 reasons why Customer Satisfaction is important to your business

1. Reduces customer churn

Customer churn is the percentage of customers that have stopped using a company’s product or service during a certain time frame. A study has found that price is not the main reason for customer churn; it is actually the overall poor quality of customer service which in turn affects customer satisfaction. By measuring and tracking customer satisfaction, you can put processes in place to increase the overall quality of your service.

2. Satisfied customers are the ones who return

It is important to keep in mind that only those customers who are satisfied with your product and service are likely to return for more. Well, not every satisfied customer will come back, but it’s certain that a dissatisfied customer will never return, especially with the variety of options available in today’s market.

3. Getting new Business through good reviews

If you are planning to buy a certain product what would be the first thing you would do? Most of us would probably check the product reviews or testimonials by the other clients to make a purchase decision. The more positive reviews or testimonials a business has, the more chances to get business. On the other hand, negative reviews will turn away potential customers. Customer Satisfaction is therefore closely related to getting good reviews or testimonials.

4. Returning customers are cheaper to retain than acquiring new customers

The cost involved in getting a satisfied customer to return to your business is much cheaper than the marketing time and cost required to acquire new customers. One thing successful businesses have in common is a high volume of returning customers.

5. Helps build relationships

A business relies on the relationship they built it builds with their audience. This is only built with the help of customer satisfaction. For example, building a brand helps a business form a good and long-lasting relationship with their target audience. But, if a customer is not happy with how you operate, even the branding will not do much good for your business. Customer satisfaction, therefore, helps you establish good relations with your customers.

With these important reasons, we need to make sure we go the extra mile to please our customers, communicate well with our customers, ensure our products are of high quality with the goal of ensuring the highest levels of customer satisfaction. We will be glad we did it! And our customers will be too!

 

Yolanda Menezes