Customer satisfaction

Definition

Customer satisfaction is the extent to which a customer's expectations are met or exceeded by a company's products or services. It is an important indicator of the quality of customer relationships and a decisive factor for customer loyalty and long-term business success.

Background

Since the 1980s, measuring customer satisfaction has established itself as an significant indicator in corporate management. Companies realized that satisfied customers are more likely to buy the products or services again and make positive word of mouth, which in turn leads to an increase in the number of customers and sales.

Areas of application

Customer satisfaction is relevant across industries and is systematically recorded and analyzed in all sectors, from the consumer goods industry to financial services and the B2B sector. In industrial companies, it is often measured through regular customer surveys, feedback systems and quality controls.

Benefits

The benefits of high customer satisfaction include stronger customer loyalty, lower turnover, and the ability to enforce premium pricing. In addition, companies can continuously improve their products and services through direct feedback from customers and thus strengthen their market position.

Challenges

One challenge in ensuring customer satisfaction is managing customer expectations, especially when they are very high or rapidly changing. Companies must be flexible and adaptive in their strategies in order to be able to react promptly to changes in the market or in customer behavior.

Examples

One example of promoting customer satisfaction is the use of Self-service portals, which enable customers to independently obtain information about products, place orders, or submit support requests, resulting in faster and more efficient customer service.

Summary

Customer satisfaction is a fundamental requirement for building trust and loyalty in a customer relationship. It not only influences the repurchase rate, but also the overall perception of a company in the market.