Customer satisfaction helps you grow in business.

In simple words, customer satisfaction is a measurement that determines how well a company's products or services meet customer expectations. It's one of the most important indicators of purchase intentions and customer loyalty. As such, it helps predict business growth and revenue.

Customer satisfaction can make or break a company, proven by the fact that only one in five are willing to forgive a single bad experience with a business. That’s not exactly news to anyone who’s involved with (let alone owns) a business of their own.

But what is worth calling out is the huge role that customer service has to play in this. Yes, your products, services, and offers should be top-notch quality in order to attract buyers in the first place and retain them.

However, when you’re able to deliver personalized, highly efficient customer service, you’re proving that your business can match your buyers’ needs — and even exceed their expectations.

In this blog, I'am going to delve into the importance of customer satisfaction and how you can utilize the value of an effective customer service function to keep your customers coming back.

Why is customer satisfaction important?

Customer satisfaction rates and business prosperity go hand in hand. Happy customers are more likely to return and support a business over the long term. Beyond this simple benefit, though, customer satisfaction can work in many other ways to support business development and growth. This includes the following:

• The competitive advantage: It’s no secret that businesses are always looking for ways to set themselves apart from the competition. Customer satisfaction can provide this differentiation.
• Reduced customer churn rates: Customer churn is when a customer leaves a company and takes their business elsewhere. Satisfied customers are far less likely to churn than those who have had negative experiences with customer service.
• Reduced costs: Happy customers mean that businesses don’t have to spend as much money on growing and maintaining their customer base. This is reinforced by the fact that 82% of companies agree that retention is cheaper than acquisition.3
• Improved brand reputation: When customers are happy, they’re more likely to talk positively about a business and recommend them to others. This is known as word-of-mouth marketing, and it’s one of the most effective forms out there.

The benefits of great customer satisfaction

As can be seen, customer satisfaction is a vital component of any business. If successful in achieving great customer satisfaction there are several benefits not only to your customer service, but your business and its growth too.

Many positive outcomes can result from putting customer satisfaction first. Some of these include:

1. Greater customer loyalty: When customers are happy with the service they’ve received, they’re far more likely to be loyal and return in the future. This can be highly beneficial in supporting long term business viability.

1. Cost savings: Keeping existing customers happy is one of the most productive ways to support and grow business support and sales outlook. It can also save you a lot of time and effort, given that acquiring a new customer can cost five times more than retaining an existing one.4

1. Boosted brand popularity: Popularity is defined by the number of people who are positively associated with a brand. When satisfied, customers are more likely to talk positively about your business and recommend it to those they know. Enhanced brand awareness comes with better reach and appeal, equating to new customers and more sales for your company.

These benefits work together to create a virtuous circle that leads to more customers, more sales, and a more profitable business. Customer satisfaction should be the primary goal of any call Centre. Companies can profit from these benefits by focusing on meeting and exceeding customer expectations. How can you take advantage?

How to achieve and measure your customer satisfaction

Most companies agree that customer satisfaction is essential. Still, few have a plan in place for how to measure and improve it. Suppose you’re looking to put customer satisfaction first in your organisation. In that case, one of the most important things you can focus on is your customer service. Creating consistently high customer satisfaction comes from a positive customer experience, and this comes down to excellent communication through your customer-facing channels such as call centres. Providing excellent customer service is essential to customer satisfaction because it’s the direct line of communication between customer and company.