There are a lot of factors that businessmen look at when they’re starting a business or keeping it going. These factors could be the marketing strategy that they have to build, the products that they have to produce, and the ways to attract customers and build assets of the business. But they sometimes overlook the most important factor: customers.
The business industry grows the same way the demand of people does. This industry exists because of people who consume the brands and keep the industry going. Without customers, there wouldn’t be any demand. And without demand, the business industry would be pointless. Customers are what gives the industry life.
The Importance of Customer Satisfaction
Businessmen see customers as a vital factor for their businesses’ success. All businesses, regardless of their products and services, aim to satisfy their customers. Failure to satisfy customers could lead to a company’s downfall.
You need to remember that your customers are the reason your business is still running. They are the most important aspect of your business. Satisfied customers are a way to attract potential customers.
There are four ways for a brand to know if their customers are satisfied:
1. Reviews
Getting a five-star review is every brand’s goal. A study shows that 36% of customers write online reviews of a brand. Customers leave different kinds of reviews to brands on selected social media sites. Customers often want to share their experience with the brand and how satisfied or unhappy they are with the products.
Brands should always expect that there are two sides of the coin to every customer review since not all customers have the same taste. Some customers critique the customer service given to them while they were at your business facility. Sometimes, they comment on the ambiance of your place.
Reviews are important because most people based their perception of a product on those reviews. Some potential customers look at reviews first before thinking of buying a particular product. If the reviews are good, a potential customer will be encouraged to buy the product. They feel assured of the product’s reliability because of the reviews.
2. Surveys
Customer survey sheets are somehow similar to product reviews but in a more direct way. These days, brands use software that creates product surveys to be sent to customers’ emails. This way, a brand can recognize unhappy customers, as most surveys are direct with their questions and choices.
Product surveys are also a good way for customers to voice out their concerns and feedback on a product. Customers can also suggest ways to improve the product and service of a brand. Brands also use surveys as a way to gather information from their consumers—to know what they want and need.
Customer and product surveys are effective. In a 2019 report by one of the most famous brand, Microsoft, 89% of the product consumers wanted companies to ask them for input. Businesses should let their customers know that they are willing to listen and learn from those surveys. Customer surveys are a great way to put the word through. A company that listens to its consumers’ demands and needs is a one that will stay relevant and needed by the consumers.
3. Visits
The same customer can visit your shop twice or thrice, but you’ll never know if that customer is a satisfied one. Identifying a satisfied customer is based on a few factors. First, if the customer visits the shop more than thrice, then that customer is a potential regular at your business. Second, if the customer brings somebody else along with them, this means that they have recommended your brand to others, which is already a win for you.
Study shows that 79% of satisfied customers tell their friends and relatives about a brand. Recommendations are vital for a business’ success because this is another form of marketing. Word of mouth is one of the best marketing strategies.
4. Loyalty Program
Customers who also come back a few more times are interested in joining your brand’s loyalty program. A loyalty program is a way to get regular customers. With customers who visit your shop on a regular basis, your brand is already on its road to success.
A study shows that 80% of loyal customers purchase twice the amount of products compared to new customers, leading to an increase in sales in your products.
If customers leave reviews for your products and recommend the brand to other people, this will eventually lead to an influx of customers. This happens to products that customers see as outstanding and to brands that have become trendy because of reviews from satisfied customers. This is how customer satisfaction affects your product. It helps your business grow.
