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Friday, October 09, 2015

Can customer satisfaction kill a business?

Can customer satisfaction kill a business?
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Customer satisfaction can kill a business only if it is used as an indicator of loyalty. Nevertheless, customer satisfaction must be set as a high priority on a business mission statement. Customer satisfaction is crucial for businesses and it can be measured.

One of the top ways to increase a company’s profit is by retaining the customers. These satisfied customers will come back for more, repeat orders and refer the business to other people. The word of mouth is a very powerful marketing tool in the business world. One happy and satisfied customer could refer to four of other new customers and so forth.
Photo Credit: www.themsrgroup.com
This tremendous testimonial and referrals cycle will continue and boost business performance. However, business owners must always be aware of this behavioural pattern to ensure that they can gain loyal customers rather than just satisfied customers.

Thus, the goal of every company should be geared towards the customers’ satisfaction and provide them a reason to come back for more which in return will give a positive outcome to the company.
Photo Credit: www.bpmleader.com
Photo Credit: www.litaxidermy.com

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