Customer Satisfaction: The Ultimate Objective of Every Entrepreneur

According to Wikipedia, “Customer satisfaction is defined as the number of customers, or percentage of total customers, whose reported experience with a firm, its products, or its services (ratings) exceeds specified satisfaction goals." Customer satisfaction is a great indicator of customer response to your products and services and your brand identity. While figures pertaining to sales or market share reflect company’s current performance in the market, the level of customer satisfaction defines the sustainability of your brand in the market. If customers are satisfied with your company, they will not only trust you for their future purchases but also recommend your products to friends, relatives and colleagues. It will help you expand your reach to potential customers. Check out some important business techniques to build a satisfied customer base: Maintain High Quality Standards Maintaining high quality standards is the golden rule to succeed in any business. Use high quality material and employ cutting-edge technology to develop your products. Low-pricing or tempting schemes can attract first-time customers but it is the quality that helps you strengthen and sustain your position in the market. Communicate Customer Service Policy Clearly Miscommunication often leads to misunderstandings that result in customer dissatisfaction. Make sure all your products are packed along with the customer service policy document that should clearly mention all the terms and conditions regarding maintenance and repairing services. For example, if you are a TV manufacturer, you should clearly mention the warranty period and its coverage limit. Do not forget to mention the defects or parts that are not covered in warranty and are separately chargeable. Instruct your dealer or agent to ensure that the customer is aware of all customer service policies. It will help you avoid any conflicts with customers and maintain your goodwill in the market. Train Your Employees to Deal with Customers Effectively Remember, customers always prefer personalized service. Prepare a customer service manual and make sure your every customer service representatives is well aware of your service policy and fully trained to deal with your customers’ queries. Your executives should be instructed to be humble and patient with the customers and should possess all the required skills to meet customer requirements. Maintain a Complaint Management Tracker on Website You can maintain a complaint management tracker on your official website where customers can post feedback and complaints regarding their purchases. Make sure your customer service representatives proactively attend to genuine complaints. Apologize for the inconvenience caused to customers and provide a prompt resolution followed by a regular follow up. Compensate the customer wherever required. Such personalized and prompt customer service is usually talked about among customers and brings you word-by-mouth publicity at no cost. Respond Proactively to Customer Queries Customer queries, either through online media, or through telephone, emails or storefront queries, are potential business opportunities. When you ignore such queries, you may lose a potential customer. Develop a system and hire active and skilled customer service executives to respond to such queries proactively. Offer Something “More” The customer loves surprise gifts, special discounts or tempting offers. Give your customers something “More” along with what they have bargained. You can offer minor services, bonuses, or other items free with the purchase. We call it “value-added” in selling. Value-added selling is an effective way in earning and retaining customer. If a high quality product or service helps in meeting client expectations, value-added selling exceeds their expectations and ensures complete customer satisfaction. Conduct Regular Surveys Surveys are a very strong medium to know what your position is in the market; what your customers think about your product and services; and what are your future prospects are in the business. The most commonly used techniques to get customer feedback include direct meetings, questionnaires, and comment cards. A successful survey allows you to identify your weaknesses and overcome them. These are some of the effective techniques to ensure maximum customer satisfaction. To get some hands-on practical tips into gaining customer satisfaction, consult with your CEO peers at a CEO Group. CEO groups bring together experience and knowledge of business leaders from non-competitive industries under one roof. At CEO Peer Groups, CEOs from start-up companies can get business leadership coaching that includes everything from finance to ensuring complete client satisfaction.