Customer Satisfaction Needs a Perspective
Customer satisfaction is a useful business metric, but only with perspective. That perspective could be customer satisfaction over time. That perspective could be customer satisfaction as compared to the firm’s peers.
Similarly, knowing your customer satisfaction is 5.6 is not all that useful, but knowing that it’s increasing compared to last month or last quarter is helpful. Particularly in segments and markets that are very service-oriented. That’s because unlike your sales, customer satisfaction is often related to something that your employees do and that as a manager, therefore you can control.
In a recession, there are many factors outside of your control that will determine your sales, but customer satisfaction can easily provide a more useful window into the human dimensions of the services your company offers.
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