Total Customer Satisfaction
Total customer satisfaction is the satisfaction a customer gets, by buying and using a product, that far exceeds his expectations. It is the whole process of looking for a product, selecting it, buying it, using it and the after sales experience. The decision to buy depends mainly on the customer’s demographics and psychographics and his expectations and on the market image and positioning of the supplier. In today’s competitive scenario, customer satisfaction is an important performance metric and a basic differentiator of marketing strategies. Hence, the more the customer satisfaction, the more the business and the engagement with the customer.
This satisfaction could be related to various business aspects like marketing, manufacturing, quality of products and services, responses to customer’s queries, after sales services, complaint handling etc.
The following factors can be thought of as offering total customer satisfaction:
-First identify who your target customer is. Meet his wants and expectations at a reasonable price.
-Offer a qualitatively high level product. For this, streamline your processes, use the best quality raw materials and strengthen your research & development.
-Show genuine care for the customer even after your product has been bought.
Importance Of Total Customer Satisfaction
Customer satisfaction is very important to an organization as it provides the organization with a metric that can help them manage and further improve their business. It is important in the sense that it indicates repeat purchase and customer loyalty, differentiates the company from its competitors, reduces customer turnover, increases customer life time value, and reduces negative word-of-mouth publicity.
Although it is hard to find a company that delivers total customer satisfaction, still there are some points to be kept in mind to improve customer satisfaction. Most of the people think that companies do not have customer satisfaction in their minds unless they ask the customers about their experience. It should therefore be mandatory to ask customers about their experience by way of customer satisfactions surveys. Even if your product or service is not very good, you form a good opinion about a company if it is concerned about your experience.
Basic Requirements For Total Customer Satisfaction
The essence of customer satisfaction is the whole buying experience. If you are genuinely concerned about your customers, you will not sell them a product or service but sell them satisfaction. So the first thing is to have a good product and then full faith in your product. You should be aware of your product’s physical and functional attributes and also of your nearest competitors’ product. Customers will like to engage with you if you have the knowledge and the expertise. This combined with genuine care for your customers is a sure shot way of growing your business.
The most publicized customer satisfaction statistic is that it is cheaper to retain existing customers than to acquire new ones. Normally, it costs six to seven times more in acquiring new customers than in retaining the existing customers.
It costs a lot of money to acquire new customers. Thousands of rupees are spent in gaining customer attention and in making them purchase your product. This means it is wise to spend one sixth of the marketing budget on customer retention. Moreover, to retain customers, you could educate them via blogs, send across special promotions via email, use customer satisfaction surveys or delight the customers by offering personalised experiences.