{"id":14021,"date":"2021-02-02T17:04:40","date_gmt":"2021-02-02T17:04:40","guid":{"rendered":"http:\/\/www.customer-alliance.com\/resources\/article\/the-importance-of-customer-satisfaction-guide-for-businesses\/"},"modified":"2025-02-19T08:54:10","modified_gmt":"2025-02-19T08:54:10","slug":"the-importance-of-customer-satisfaction-guide-for-businesses","status":"publish","type":"articles","link":"https:\/\/www.customer-alliance.com\/en\/articles\/the-importance-of-customer-satisfaction-guide-for-businesses\/","title":{"rendered":"Why customer satisfaction is important: A guide for businesses"},"content":{"rendered":"\n

Why customer satisfaction is important?<\/span><\/p>\n\n\n\n

In short, your business\u2019 success depends on it. <\/span><\/p>\n\n\n\n

This guide provides convincing stats, the most popular customer satisfaction methods, and a 5-step framework for implementing a client satisfaction strategy at your company. So, we hope you’ll be…drumroll please…satisfied. <\/span> [ca-form id=”194451″ align=”left” var1=”http:\/\/www.customer-alliance.com\/wp-content\/uploads\/2021\/10\/customer-alliance-customer-satisfaction-pillar-download-2.pdf”]<\/p>\n\n\n\n

Table of contents:<\/strong><\/p>\n\n\n\n

What is customer satisfaction?<\/span><\/a><\/p>\n\n\n\n

Why customer satisfaction is important<\/span><\/a><\/p>\n\n\n\n

How to measure customer satisfaction<\/a> <\/span><\/p>\n\n\n\n

Customer satisfaction methods<\/span><\/a><\/p>\n\n\n\n

Spearhead customer satisfaction in your company <\/span><\/a><\/p>\n\n\n\n

What is customer satisfaction?<\/span><\/h2>\n\n\n\n

Customer satisfaction is the measurement of how content customers are with the overall customer experience<\/a>. This includes not only how happy a customer is with a purchase or service, but also how satisfied they are throughout the customer journey<\/a>. (Think: messaging, support, delivery, and availability of information). <\/span><\/p>\n\n\n\n

When a company is successful in its goal to satisfy customer needs and expectations<\/a>, then it\u2019s rewarded with returning customers. Ultimately, customer satisfaction is the most important indicator of customers\u2019 repurchase intentions and their loyalty. <\/span><\/p>\n\n\n\n

Why customer satisfaction is important<\/span><\/h2>\n\n\n\n

Customer loyalty, your marketplace competitiveness, the amount of money each of your customers spend and and hey, we\u2019ll say it\u2014profitability\u2014are all directly linked to customer satisfaction<\/a>. <\/span><\/p>\n\n\n\n

In fact, in a widely acclaimed study on customer satisfaction, researchers discovered that <\/span>an increase in<\/b> 11.5% net profitability for a company for every 1 percent per year increase in customer satisfaction<\/b> over a five year period<\/b> (1). <\/span><\/p>\n\n\n\n

So, consider these benefits which contribute to profitability and begin making client satisfaction your company\u2019s top priority.<\/span><\/p>\n\n\n\n

Competitive Advantage<\/span><\/h3>\n\n\n\n

First, let’s discuss competitive advantage. Why should your company be selected over your competitor if you both have similar product offerings and price points? Research by PWC indicates that <\/span><\/p>\n\n\n\n

86% of consumers will pay more for a great customer experience <\/b>(2). <\/span><\/p>\n\n\n\n

FYI: We can know what a \u201cgreat customer experience\u201d is by measuring client satisfaction<\/a>. We\u2019ll get to the actual metrics in a bit. <\/span><\/p>\n\n\n\n

\"Woman<\/a>
Online reviews revealing satisfied customers play a huge role in customer acquisition.<\/figcaption><\/figure>\n\n\n\n

Attract new customers <\/span><\/h3>\n\n\n\n

So, how will a potential customer know that your company makes customers happier than your competitors? They\u2019ll listen to what your current customers have to say about your brand, for better or worse.<\/span> <\/span><\/p>\n\n\n\n

25% of a company\u2019s market share is directly related to its reputation<\/b> (3). <\/span><\/p>\n\n\n\n

Wow. The most traditional avenue for business research is word of mouth. However, this isn’t limited to a conversation you have with your friend at a coffee shop. In today\u2019s digital age, online reviews\u2014the new word of mouth\u2014play a huge, and ever-increasing role in attracting new customers. <\/span><\/p>\n\n\n\n

Let’s admire these stats about online reviews: <\/span><\/p>\n\n\n\n