The Importance of Customer Satisfaction

fergrtgerProviding excellent customer service to your consumers is crucial if you want to keep them coming back to your business. Understanding what your customers are looking for is important, and the UK customer satisfaction index research can help with this. It can particularly help business owners as you can calculate how to improve your business and the areas of it that require improvement. Therefore, by taking this index into account, you can strengthen your weak areas and create a business loved by all of your customers, improving your profits.

Reputation & Loyalty

If your customer is satisfied with the customer service that you’re providing them, they are much more likely to return to your business in the future. An excellent way to measure customer satisfaction is by providing your customers with a feedback survey, encouraging them to score the service that they have received.

For customers that score you particularly highly, those are the ones who are more likely to use your services again, so it’s crucial to target these clients but to also attempt to make other customers as equally satisfied. Therefore, it’s clear to see how a satisfied customer can remain loyal to your business and give you a good reputation.

Exceeding Your Competitors

If selling the same product or providing the same service as businesses around you, it’s important to consider what makes you better than them. If you’re providing bad customer service, your clients will leave in a heartbeat and dislike your business immediately. However, there is a group of people who will adore your inadequate customer service, and these people are your competitors. The world of business is hugely competitive, and so to exceed your rivals and gain a greater bracket of customers, you need to ensure that the satisfaction of your customers is optimal.

If your customers are highly satisfied, it’s likely that they will recommend your services to their friends and family, raking in more customers for you to earn a profit off of. Therefore, not only will you maintain the existing customers who are loyal to your company, but you’ll also attract new customers who will hopefully become loyal to your business in the long-term.

Lifetime Guarantee

Studies have found that customers who are completely satisfied with your product/service will contribute 2.6 times more revenue than a customer who is reasonably satisfied. This slight differentiation in customer opinion shows you how important their satisfaction is if you want to make a good sum of money. Customer lifetime value is vital for your business to excel, as it will earn you more money than if you were to lose customers and then gain new ones on a frequent basis. This is because you can monitor their wants and needs, and therefore target their desires to keep them highly satisfied. Where, if you were to lose and gain customers on a regular basis, you would need to adapt how you’re targeting them and change your marketing tactics, which will cost you more money if done frequently. Ultimately, the longer your customers are with you, the greater revenue you will generate.

Reduction in Negative Views

It isn’t rocket science to work out that unsatisfied customers will place a huge burden on your business. 13% of unsatisfied customers will warn at least 20 different people about their experience at your business, encouraging others not to use your services. Consequently, your reputation will be ruined and the likelihood of incoming customers will be reduced. It’s important to consider losing one customer as a huge loss, as you will probably lose several more because of that single individual.

Therefore, the solution to this spiralling problem is easy – you need to ensure that your customers are extremely satisfied with the service that you’re providing them with. You can identify what product or service your customer is impressed with and optimise it as highly as possible. On the flip side, anything that customers aren’t satisfied with can be modified to prevent rejection occurring in the future.

Customers Cost Money

As previously mentioned, it’s much more important to focus on retaining customers rather than chopping and changing them on a weekly basis. Did you know it costs approximately 6.5 times more to acquire new customers rather than keeping existing ones? This is because your marketing team will need to adopt new marketing strategies on a constant basis, spending valuable business money to grab the attention of potential customers. Whilst this may work to attract these customers, it will be made more difficult to make profits and keep the business growing due to the added expense.

So, keeping your existing customers should be made a priority, and you can target this bracket by sending emails informing them about special promotions or offer personalised experiences for your customers to keep them happy. By selecting strategies like this, your existing customers will have a larger incentive to stay with your business as opposed to moving to a new one.

Benefits of Social Media

Now that we’re living in a digital age, word of mouth has been made much simpler as you can express your thoughts to thousands of people with the click of your fingers. A totally satisfied customer is likely to share their positive experience at your business with others, increasing the likelihood of gaining new customers as well as maintaining your current ones. Any posts that you may have on your website will also give them the opportunity to leave comments talking about how impressed they are with your services and encourage others to use them. With social media and online interaction being a huge part of our lives now, any business should aim to use this to their advantage and ensure customers spread the world about how delightful the company is.

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