Never Underestimate the Importance of Customer Satisfaction
Customer satisfaction is essential to any company's growth. When you meet or exceed a customer's expectations, they can do wondrous things for your reputation and even give you free advertising by recommending you to others. However, if you fail to meet their expectations, you'll likely never see them again. In fact, they might even complain about their experience on public forums, such as social media. The value of customer satisfaction According to Bain & Company, it costs 6 to 7 times more to find a new customer than to keep an existing one. Holding on to old customers and building customer loyalty gives you the chance to improve the bottom line drastically compared to a mindset that focuses exclusively on finding new customers. Satisfied customers can also be fantastic brand advertisers. In the age of digital media, both complaints and compliments can go viral. A customer who takes to Twitter to speak about a poor customer experience can influence untold...