Analysis of customer satisfaction

Pierluigi Zerbino^*
*Correspondence: Pierluigi Zerbino, Department of Management and Business Studies, Kyoto University, Kyoto, Japan, Email:

Published: 23-Dec-2021

Descriptive

Customer satisfaction (CSAT) is a marketing phrase that is frequently used. It’s a measure for how well a company’s products and services meet or exceed consumer expectations. “The number of consumers, or proportion of total customers, whose reported experience with a firm, its products, or its services (ratings) surpasses established satisfaction goals,” according to the definition. Customers play a key part in keeping a product or service current, therefore ensuring customer pleasure and building customer loyalty is in the best interests of the company.

As part of its on-going Common Language in Marketing Project, the Marketing Accountability Standards Board (MASB) endorses the definitions, purposes, and measures found in Marketing Metrics. A customer satisfaction metric was deemed to be highly valuable in controlling and monitoring organisations by 71% of over 200 senior marketing managers polled. Customer satisfaction is commonly included in a Balanced Scorecard as a critical performance metric in the corporate world. Customer happiness is considered as a fundamental difference in a competitive environment where businesses compete for customers, and it has increasingly become an important part of corporate strategy.

Customers are more likely to be prioritised in growing businesses than in organisations with stable or declining sales. Customers that are successful can also become your best salesperson; according to our data, 77 percent of consumers have shared positive experiences with businesses. Keeping your current customers pleased is also helpful for business in the long run. Getting new clients is 5 to 25 times more expensive than sustaining current ones, according to conventional business thinking. Customer satisfaction measures how successfully you, as a product or service provider, meet your customers’ requirements and expectations. This rule applies to all interactions before, during, and after the sale. “A measure of how happy customers feel when they conduct business with a company,” according to the following customer satisfaction definition. The usage of the word “measure” in the above definition emphasises the significance of empirically assessing customer happiness. Customers’ opinions on various parts of your service are often gathered through customer satisfaction surveys. Other measures, such as customer retention and loyalty, can be used to make inferences about consumer pleasure. You may identify your flaws and find out how to enhance your service to increase customer satisfaction levels by measuring customer satisfaction this way.

Customer satisfaction can be measured in a variety of methods; they are Customer Satisfaction Score (CSAT), Net Promoter Score (NPS), and Customer Effort Score (CES). Customer satisfaction is measured by the Customer Satisfaction Score (CSAT), which is a crucial performance indicator. The CSAT measures consumer satisfaction with a company’s services, goods, business, or customer service staff. Customers are polled on how happy they are with one or more areas of the business. CSAT answers are expressed as a percentage ranging from 0% to 100%. A higher satisfaction percentage suggests a better level of satisfaction. Customer satisfaction has a beneficial impact on a company’s profitability; satisfied customers are the cornerstone of any successful business, as they lead to repeat purchases, brand loyalty, and positive word of mouth.