There are several reasons why it’s important for a business to measure customer satisfaction. You are most likely aware that the first time someone makes a purchase or utilizes your services is critical. This is the point at which most consumers will decide whether or not they will be loyal customers or choose a competitor instead.
A recent consumer survey revealed that 48% of the participants agreed the initial point of contact was critical to creating loyalty. Whether they’re beginning a service or making a first purchase, these consumers want to have a positive experience. When they experience poor service, however, 78% of consumers will not finalize their transactions. Furthermore, when customers are unhappy with the service they receive, 91% won’t willingly conduct business with that company again.
More and more adults are using social media sites. As of January 2014, for example, this amounted to 74% of the United States’ adult population. While businesses may not receive a large number of direct consumer complaints, this doesn’t mean adults aren’t posting these on social media sites. It’s interesting to note that on average, businesses are only contacted directly by four percent of their dissatisfied customers.
According to research, when consumers have a single negative experience or unresolved issue, it will take 12 positive experiences to make up for this. There are, of course, a variety of ways a business can make up for a negative experience. Since this will depend on the underlying reasons, such as not being able to speak with a live customer service representative, it’s essential to address these issues as soon as possible. Within the last year, for example, 67% of customers have ended a call because they were frustrated that they weren’t able to speak with a real person.
Another way to enhance brand loyalty is to have effective content marketing. This can make consumers feel more connected to a company, according to the Content Marketing Institute. They determined that 70% of consumers will feel closer to a sponsoring company as a result of reading relevant content. When consumers have been asked why they have a relationship with a particular brand, 64% replied that the main reason was shared values.
Since it can cost your company six to seven times more to acquire just one new customer than maintain an existing one, it makes good business sense to focus on customer service and the customer experience. Costumer loyalty is obviously valuable. In fact, it can actually be ten times more valuable than a single purchase. In addition to posting positive reviews on social media sites, these individuals will also share their experience with family, friends, and colleagues. An added value is that nine out of ten American consumers are willing to pay more for products and services when they have a superior customer experience.
Since you’re in business to succeed, when you focus on providing the best possible experience, it can make a significant difference in your business growth due to customer loyalty. In order to accomplish this, a professional market research firm can provide you with a variety of strategic services. Effective content marketing is just one of the valuable services that they can provide. When you work with a professional market research firm, they will be able to determine the best strategies for your business.