Customer satisfaction is vital for a business to continue thriving. Gone are the days when people barely knew other options as monopoly was the name of the game; with multiple competitors vying to get a dip from their wallets, the interest of today’s customers have become volatile as vapor on a hot summer day. Customer satisfaction is inarguably a key indicator of a business’ health.
Basically, more customers mean higher sales. The benefits of customer satisfaction, however, go far beyond the initial purchase; it creates resonance that can increase profits for your business. A Forbes.com article citing Larry Freed’s “Innovating Analytics” says that not only do businesses benefit from customer satisfaction through retention and product upsell, they also attract more customers through “word of mouth”, when customers talk positively about them in channels of wide coverage like social media.