The essence of consumers’ satisfaction is your customer gets your
products regularly without fail at fair prices without compromising quality
with periodic upgradation of the product according to the changing market
The company must continually try to find out how the consumers feel
about the products. To keep itself updated with regard to the level of
satisfaction the consumers feel about the products, companies generally ask for
feedback rating satisfaction on the 1-10 scale. If the rating happens to be 9
or so, it is clear that the consumer will not leave the company and moreover,
it is likely he will recommend your product to others as well. Rating 7 is safe
but if it goes down rating 6 or 5, it is a signal that the consumer is not
satisfied with your product and is quite likely to exit at the earliest.
The successful business strategy focuses on consumer satisfaction
which in a way differentiates companies. The sustainability of a business
concern is directly linked to consumer satisfaction and a company that tends to
give inadequate attention to consumers satisfaction will face set back in its
business volume. It is a well-known fact that acquiring a new customer is
rather costly compared with retention of a customer.
Consumer satisfaction shields the company from possible bad name and
report on the product by word of mouth.
Consumer satisfaction, after all, helps generate more profits for the
company compared with the company that is tagged on with less of consumer
In fact, analysts point out that customer loyalty is more significant
than customer, consumer satisfaction.
All innovative initiatives can be undertaken to build consumer loyalty.
It is suggested that the company must be able to spot out some consumers who
are different, distinct from the rest and they must be treated with some
special kind of attention like greeting them on their b’days or even their
wedding days, so on.
A loyal customer for all intents and purposes is a real asset to the
company and he must not be lost. One sure way to lose him is using automated
machines or emails to contact him. Automated emails will do more harm than good
to the company. The customer knows that the email does not recognize him for
his worth nor does it accord any particular attention to him. He is considered
one among the crowd. Therefore, automated contacts will not bring any benefit
to the company but on the other hand they will negatively influence the
customers who will not hesitate to leave the company at the least temptation
from another rival.
All these arguments go to prove that a company cannot afford to lose a
loyal customer. Business promotion and retention of loyal customers are