| Researchers in the US have shown that there is a | | | | increase in cash flow over time compared to |
| direct correlation between customer satisfaction | | | | those which saw a drop in satisfaction. |
| and future success of a business. They found | | | | In my own research career, I have also seen |
| that companies with increasing satisfaction scores | | | | similar results when looking at how satisfaction |
| faired significantly better in the downturn last year | | | | scores impact future usage of websites. Our |
| than those with declining scores. Companies with | | | | research showed that there was a definate |
| increasing satisfaction scores only lost 30% of | | | | correlation between future user engagement |
| their market value, against companies with | | | | and customer satisfaction. This all seems |
| decreasing customer satisfaction which lost 57% | | | | common sense, but there are a lot of |
| value on average. That's a huge discrepancy | | | | businesses out there which choose to ignore the |
| completely outweighing the investment needed to | | | | obvious, especially when the chips are down in a |
| boost satisfaction scores, and is an important | | | | recession. If your running a business and you |
| reminder we need to all focus on delighting our | | | | are not listening to your customers or reducing |
| customers, even in the tough times of a | | | | service to save money; I'd recommend thinking |
| recession. Here is the article: *Retail Stock Prices | | | | again, any decision that could damage |
| Correlate With*Customer Satisfaction: Study - 2 | | | | your customer satisfaction, could be the last one |
| 27/2009 10:57:00 AM - TWICE | | | | you make! |
| The above research agrees with another other | | | | I've created a practical guide on customer |
| study looking at how Net Proamoter (Customer | | | | satisfaction on my website which you may find |
| satisfaction metric) impacts future cash flow | | | | useful. Its aimed at helping businesses understand |
| (Customer satisfaction, cash flow and share | | | | what is customer satisfaction, how to measure it, |
| holder value by Thomas S. Gruca & Lopo L. | | | | techniques to build it and also how to build your |
| Rego). Using American Customer Satisfaction | | | | business around your most valuable customers. I |
| Index data, researchers showed that companies | | | | hope you find it useful, feel free to tell me what |
| with growing Net Promoter score, also saw an | | | | you think or ask questions. |