Definition of Consumer Satisfaction

Companies that do not focus on customer satisfaction have a high price to pay, according to the Destination CRM website. A study conducted across 16 countries revealed that companies lost an aggregate of $338.5 billion due to unhappy customers a year, the website reports.

Definition

According to BNET, customer satisfaction is "the degree to which customer expectations of a product or service are met or exceeded." Each person has their own set of expectations, so customer satisfaction is unique to the individual.

Features

Businesspeople who work with customers or clients should exhibit professionalism, patience, respect and good communication. Also, going the extra mile for your customers is a good way to enhance customer satisfaction, because it increases your chances of exceeding their expectations.

Function

Companies want their customers to be happy because happy customers bring in more business and add to a company's viability. When customers are dissatisfied they are likely to stop returning as a client, and may tell friends and family about the poor experiences they had with your company.

Satisfaction Surveys

You can provide satisfaction surveys to your customers to continuously measure their level of satisfaction. Satisfaction surveys will give customers a chance to let you know how things can be done better to enhance customer service.

References

• BNET: Customer Satisfaction
• Destination CRM: Poor Customer Service Costs Billions