Customer Satisfaction Vital!

Customer Satisfaction Vital!

A continuing problem for businesses is how to keep your customer satisfied so that you’re discouraging them from taking their custom elsewhere.

It is generally accepted that today it is harder to retain customers because they have more choices than customers had in the past.

There are a number of contributing factors to the retention of a customer including:

* Many customers see businesses as being unethical e.g. banks and the finance industry and because of this customer loyalty can be very fragile.

* Customers are critical that from their perception some businesses that they deal with are not keeping up-to-date with technology, plant and equipment, marketing strategies and the use of social media.

* Businesses probably need to pay more attention to tailoring the offer or product to the needs of individual customers. The concept that “one size fits all” is probably not the right concept for the retention of customer loyalty in 2018/19.

* Some customers also perceive that some of the businesses that they deal with cannot deliver on their marketing promises – items such as delivery times, quality of products, warranty periods, response to a warranty claim etc.

Small and medium-sized business operators need to ensure that their team is closely listening to comments by customers and reporting those comments back to the team so that the business can react quickly to criticisms or suggestions for changes in the way the business promotes products and services and deals with customers.

A recent international study, that surveyed 3,000 people, indicated that 56% of the persons surveyed will only purchase products or services from businesses that are committed to:

* innovation on a continuing ongoing basis

* with that innovation being tailored to the needs of the business’ customers

The survey also indicated that businesses that don’t innovate will find it very difficult to continue in business in the future. The survey indicated that the businesses that stay the same and don’t change and don’t innovate, 80% of those businesses will be out of business within 5 years.

All of this creates a leadership issue for small and medium-sized business operations. Leaders need to be continually looking for ways and means to create a better service offering for their customers and in so doing achieve a high level of customer satisfaction.

If you would like to talk to us about the conduct of a customer survey or a meeting with customers, please do not hesitate to contact us for a discussion on this concept.