Completely satisfied customers spend more money

What are you trying to achieve when you carry out a customer satisfaction survey? Is it to find out what you’re doing really badly and improve that?  Is it to truly excel?

In a previous post we emphasised the importance of taking a pragmatic approach to improving customer satisfaction.  For example, as a first step you may wish to move dissatisfied customers to at least be moderately satisfied.  This might be to simply avoid bad publicity.

However, is it worthwhile trying to get to the next stage and completely satisfying your customers?  You may in theory say or claim that your aim is to deliver excellent customer service.  But, in these difficult times, is it financially worthwhile for you to make the required investment to do so?  Here’s a fascinating blog by Vovici’s Jeffrey Henning arguing that you should.

In essence, “a totally-satisfied customer contributed 2.6 times the annual revenue that a somewhat-satisfied customer generated and 14 times the revenue of a somewhat dissatisfied customer”.  Food for thought!

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