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    CORRECTIONS

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    Archana Kalaiselvan
    1. Loyal customers are much more valuable than new customers, as it costs 6-7 times more to acquire a new customer than retain an existing one. It is important to prioritize customer satisfaction and retention. 2. Dissatisfied customers can switch to competitors easily. It takes 12 positive experiences to outweigh one negative experience. Constant communication and support is needed to maintain customer satisfaction. 3. Happy customers are more likely to purchase and recommend a brand, increasing sales revenue and the customer's lifetime value. Regularly measuring customer satisfaction is important for business success.

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    CORRECTIONS

    Uploaded by

    Archana Kalaiselvan
    70 views2 pages
    1. Loyal customers are much more valuable than new customers, as it costs 6-7 times more to acquire a new customer than retain an existing one. It is important to prioritize customer satisfaction and retention. 2. Dissatisfied customers can switch to competitors easily. It takes 12 positive experiences to outweigh one negative experience. Constant communication and support is needed to maintain customer satisfaction. 3. Happy customers are more likely to purchase and recommend a brand, increasing sales revenue and the customer's lifetime value. Regularly measuring customer satisfaction is important for business success.

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    1. Loyal customers are much more valuable than new customers, as it costs 6-7 times more to acquire a new customer than retain an existing one. It is important to prioritize customer satisfaction and retention. 2. Dissatisfied customers can switch to competitors easily. It takes 12 positive experiences to outweigh one negative experience. Constant communication and support is needed to maintain customer satisfaction. 3. Happy customers are more likely to purchase and recommend a brand, increasing sales revenue and the customer's lifetime value. Regularly measuring customer satisfaction is important for business success.

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    70 views2 pages

    CORRECTIONS

    Uploaded by

    Archana Kalaiselvan
    1. Loyal customers are much more valuable than new customers, as it costs 6-7 times more to acquire a new customer than retain an existing one. It is important to prioritize customer satisfaction and retention. 2. Dissatisfied customers can switch to competitors easily. It takes 12 positive experiences to outweigh one negative experience. Constant communication and support is needed to maintain customer satisfaction. 3. Happy customers are more likely to purchase and recommend a brand, increasing sales revenue and the customer's lifetime value. Regularly measuring customer satisfaction is important for business success.

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    IMPORTANCE OF CUSTOMER SATISFACTION:

    1. A Loyal customer is a treasure you should keep and hide from the world

    According to White House Office of Consumer Affairs, on average, loyal customers are worth up to
    10 times as much as their first purchase. Some research says that it is 6-7 times more expensive to
    acquire a new customer than it is to keep a current one. Banks or mobile providers know it best, so
    they don’t have any problem with going an extra mile for a customer who is not quite satisfied and
    often offer him something special. Not only it is more expensive but also much more difficult to keep
    existing and loyal clients (let alone keeping them fully satisfied and happy!) than to gain some new
    ones. Take this rule into account while organizing your customer service processes and do your best
    to look after them.

    2. They can stop being your clients in a heartbeat

    Is not rocket science, nowadays clients easily switch their love brands. It is often caused by terrible
    customer service. Clients waiting for ages to get feedback or comment from a brand? Unacceptable!
    But it still happens. And gaining clients’ trust takes up to 12 positive experiences to make up for one
    unresolved negative experience.

    You can’t gain customers’ satisfaction for ever, you need to look after them all the time. Try to talk
    with them, instead of to them. Ask questions, offer constant support, send personalized messages or
    offers, use targeted website surveys, email surveys or any other technique that will help you
    communicate with your customers. Take care of each and every of your clients’ need and you’ll be
    rewarded with their gratitude and loyalty. Sounds like a good deal, doesn’t it? Brands often take
    their audience for granted, and they’ve never been so wrong – one decision, or lack of it, can result
    in losing a lot of clients and their respect. That’s why measuring clients’ satisfaction is so important.

    3. It’s (all) about the money, too

    It shouldn’t be surprising, but the customer satisfaction is also reflected in your revenue. Customers’
    opinion and feelings about the brand can affect, in both positive and negative way, the essential
    metrics – such as the number mentions and repeated transactions, and also customer lifetime value
    or customer churn. Happy customers won’t look at your competitors offers – they will happily
    interact with your brand again, make a purchase and recommend the product further. If you meet all
    of their requirements and answer their needs while delivering the best quality of your services, they
    will be fully satisfied. Not to mention your brand will increase sales revenue!

    Measuring customer satisfaction should become your daily habit – not something you do from time
    to time and only if you’re about to face a crisis management. If you don’t know how to do it right,
    you can take a look at our guide to measuring customer satisfaction to make things easier.

    4. Customer satisfaction is a factor that helps you stand out of the competition

    Kate Zabriskie once said that “Although your customers won’t love you if you give bad service, your
    competitors will.” and we couldn’t agree more. Your competitive rivals are just waiting for you to
    make a wrong move. What is more, they can often play a role of an instigator. Being prepared for
    their provocations is not enough if you don’t know how to deal with the negative backlash.
    However, if you provide your customers with an amazing customer service, you will gain arguments
    to convince those uncertain of your services.
    5. Great customer experience can take your brand places

    The importance of customer satisfaction should never be neglected. You should consider it
    especially while planning your marketing and positioning campaigns. Satisfied customers are more
    likely to share your content across the social media. They will also more keenly interact with your
    posts, leaving some delightful and admirable comment

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