This article talks about the amazing benefits of customer satisfaction….
In this article, which is a sequel to the one I wrote earlier on the subject matter of Customer Satisfaction , I want to talk about some of the importance of customer satisfaction in a customer centric enterprise. Before I do that, I need to revisit the definition of customer satisfaction as discussed in that article. You should know that having customer satisfaction in a customer centric enterprise is one of the ways of satisfying your customers and raise exit barrier for them.
What is customer satisfaction?
Customer satisfaction is a process of internal evaluation that compares the expectation of customers before they purchased your product or service to what they actually get after they have used your products or services. If you are able to surpass the expectations of your customers in terms of customer satisfaction and product quality, then we can say you have a satisfied customer base.
Now the importance…
#1 Understanding customer experience
The principle of customer satisfaction help you to understand what customers are really looking for in your products or services. If you noticed that customers have been leaving your organization and they are joining your competitor’s lifecycle , that means they are more comfortable with his products or services than yours.
#2 Improving quality
One thing you will notice in a competitive business environment is that organizations are fond of copying whatever their closest rival is doing. They feel that if they fail to do that, their customers might be forced to join their competitors’ lifecycle. That is why organizations are improving in their product quality in order to retain more customers.
#3 Good financial performance
I have often said it that your organization’s profit is not coming from new customers ,it is coming from your satisfied customer base. If you want to calculate your expected profit for the next fiscal year, you will based it on the number of stable customers that you have now. That is why you need to have a stable customer base in order to stay afloat.
#4 Key to success
How Viable an organization is always depend solely on the number of satisfied customers that they have and what their customers are saying about them. I do not know if you have noticed this, if your customers are not making good commendation about you, it will definitely affect your survival as an organization . That is why you have to improve the satisfaction level of your customers.
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