Monday, February 25, 2008

Customer Satisfaction is Still Important

I saw two pieces of information recently that reminded me that customer loyalty is not sustainable without customer satisfaction. There were two very important pieces of information that need to be considered when planning your budget for the year.

The first is the most recent finding from the American Customer Satisfaction Index that is compiled quarterly by the University of Michigan. Their index rates more than 200 companies on a 100-point scale. In the most recent quarter the index fell 0.4 percentage points to 74.9 and, MORE IMPORTANTLY, it marked the second straight decline after more than two years of consecutive improvements.

The second concern is that Bain & Co., a large consulting company located in Chicago, found that 80% of the companies they surveyed believe they deliver a "superior experience" to their customers. When Bain asked the customers of those same companies about their perceptions, ONLY 8% REPORTED A SUPERIOR EXPERIENCE.

The Bottom Line: Gimmicks and giveaways are not enough to create customer loyalty. Customer satisfaction is always an important component.

1 comment:

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