Importance of Customer Satisfaction for a business

For the success of each and every business customer satisfaction is very necessary. This term is usually used in the business to determine how products or services by a company meet a customer’s anticipation and needs. Usually companies conduct surveys to measure customer satisfaction to improve the quality and standard of their products as well as services.

Customer satisfaction is very necessary as it leads to the brand loyalty. Customer satisfaction surveys usually work as vital tools for improving your business and ensuring your customers are contented, happy and loyal. Online surveys are simple and convenient way to find out that your customers are really satisfied by your services and products.

Related Statistics

There are some stats according to some surveys that demonstrate that why in marketing and for the success of your business customer satisfaction is necessary.

  • A “totally satisfied” customer contributes 2.6 times more profit to your company than a “dissatisfied” customer.
  • A “totally satisfied” customer contributes 17 times more income to your business than a dissatisfied customer.
  • A totally dissatisfied customer decreases revenue to your business 18 times more than a totally satisfied customer contributes to a company.

Importance of Customer Satisfaction for a business

  • Important indicator of consumer repurchase intentions and loyalty

By measuring the results of customer satisfaction you can indicate consumer repurchase intentions and loyalty. For example by taking the rating from 1 to 10 and the customer who gives you 7 and above indicates satisfaction as well as great chances of repurchasing. Rating of 9 and 10 shows customers having brand loyalty and below 6 indicates dissatisfaction of customer.

  • Point of differentiation

What makes a difference, ‘Who takes good care of their customers’. It’s actually a key to success in every business.

  • Decreases customer’s disconcert

As customer satisfaction is very necessary and according to a survey good customer services all the disconcert of customer and used as a metric for success in a business.

  • Increases Revenues and profits

A good and a wise business man understand that satisfaction of customer as well as customer retention has direct effects on the business in terms of profits and income.

  • Reduces negative Reputation

A happy and satisfied as well as satisfied customer always promote a good repute of your business that plays a vital part for making more customer and ultimately more and more income.

  • Retention Of customers

To retain a customer is easy than to make new one. So retention of customer plays a very important part too. There are different retention strategies like use blogs for educating customers, Launch Promotions, Customer satisfaction surveys and best customer services etc.