1. How can we start a New business?

3. I) What is Customer Satisfaction?

1. Definition

Customer Satisfaction is a term everybody knows and the ultimate goal of all customer service departments. At first, the concept can seem quite broad: in this article, we focus on customer satisfaction as the measurement of how customers are happy with a product or service.

Ian Golding shared with us his definition of Customer Satisfaction:

A good way to get a benchmark of CSAT is to look at the American Customer Satisfaction Index. According to their latest results, the overall U.S. customer satisfaction score equals 76.9% out of 100 for Q2 2018.

Over the same period, the top 3 sectors with the highest scores are Manufacturing, Accommodation & Food Services and Health Care & Social Assistance. 

2. Why measure Customer Satisfaction

Measuring Customer Satisfaction is a key area of Customer Care. To enhance their strategy and keep up to date with customer expectations, companies need to constantly measure satisfaction. Measuring CSAT is a way to keep in line with customers’ expectations.

Some of the key benefits of customer satisfaction include:

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  Showing your customers that you value their opinion and care about them
  
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  Identify unhappy customers to take actions
  
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  Identify happy customers to capitalize on their positive experience
  
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  Better understand which areas of your customer care strategy must be improved
  

Ian Golding explains why CSAT is important and how it compares to NPS (Net Promoter Score):

3. Why Customer Satisfaction is an important KPI for companies

Satisfied customers have a significant impact on the global activity . However, only 48% of consumers think that businesses are prioritizing their satisfaction and success. The same study shows that 83% of growing businesses rate customer satisfaction as “very important”. This outlines that customer experience is now a top priority and a factor of success.

Customer satisfaction positively impacts a number of other metrics:

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