Customer satisfaction is defined as a measurement that determines how happy customers are with a company's products, services, and capabilities. Customer satisfaction information, including surveys and ratings, can help a company determine how to best improve or changes its products and services. Customer satisfaction is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction (often abbreviated as CSAT) is a term frequently used in marketing. It is a measure of how products and services supplied by a company meet or surpass customer expectation. Customer satisfaction (CSAT) is a metric used to quantify the degree to which a customer is happy with a product, service, or experience.
Top six reasons, why customer satisfaction is so important in business and services:
It’s a leading indicator of consumer repurchase intentions and loyalty It’s a point of differentiation It reduces customer churn It increases customer lifetime value It reduces negative word of mouth It’s cheaper to retain customers than acquire new ones