Customer Service

1399 Words6 Pages
Companies are misguided nowadays by the notion that customers depend on them, when the truth of the matter is that companies are dependent on those customers. Customer satisfaction and customer loyalty is now essential for a business or company to survive. So what is the difference between customer satisfaction and customer loyalty and how to companies and or business achieve this? Also when you have difficult customers how do you achieve customer satisfaction? It’s essential that companies or businesses today listen to their customers. No company or business today can afford to disregard the importance of customer satisfaction and loyalty. Aren’t they the same thing? No, they are absolutely not and they are enormously different. “Customer satisfaction is a self-reported measure of how much customers ‘likes' a company and how happy they are with goods purchased or services obtained from the company. Customer loyalty, on the other hand, is a company-calculated metric of likelihood to purchase again or not defect to a competitor” (Klein, 2013). Achieving customer satisfaction is paramount in the business world today. Customer satisfactions assists you, assists the customer, as well assists the company and or business as a whole. According to Nelson “The level of satisfaction a customer has with a company has profound effects. Studies have found that the level of customer’s satisfaction has a positive effect on profitability: • A totally satisfied customer contributes 2.6 times as much revenue to a company as a somewhat satisfied customer. • A totally satisfied customer contributes 17 times as much revenue as a somewhat dissatisfied customer. • A totally dissatisfied customer decreases revenue at a rate equal... ... middle of paper ... ...faction is not customer loyalty. Retrieved from http://www.dmnews.com/customer-satisfaction-is-not-customer-loyalty/article/313592/ Kotler, P., and Keller, K.L. (2009). A framework for marketing management: integrated with PharmSim. (4th Ed). Pearson Prentice Hall. Upper Saddle River, NJ Mckeown, L. (2013, Sept 4). How to fiercely loyal customers. Retrieved from http://www.inc.com/les-mckeown/how-to-get-loyal-customers.html Nelson, R. (n.d.). Retrieved from http://www.wparesearch.com/uncategorized/the-importance-of-customer-satisfaction/ Street, C. (n.d.). Retrieved from http://highered.mcgraw-hill.com/sites/dl/free/0072938056/147626/lucas_chap007.pdf http://www.bestmark.com/web_and_email_surveys.htm http://www.briantracy.com/blog/business-success/four-rules-customer-satisfaction-customer-loyalty/ http://blog.clientheartbeat.com/dealing-with-difficult-custo

More about Customer Service

Open Document