Customer Satisfaction Mastery

Importance of customer satisfaction

• 96% of customers will leave a company due to bad customer service

• Customer satisfaction is key to repeat sales and business success

• Opportunistic companies may take advantage of customers for short-term gain, but will eventually lose in the long-term

• Building customer trust, satisfaction, and loyalty is a better long-term investment

• Dissatisfied customers are more likely to speak out about their negative experiences than satisfied customers are about positive experiences

• The silent majority principle suggests that just because customers don't complain, it doesn't mean they are satisfied

• The 11/4 rule states that a dissatisfied customer will tell 11 others about their bad experience, while a satisfied customer will tell 4 others about their good experience

• A&B Service's assumption that they are satisfying 80% of their customers based on the number of complaint calls is flawed, as it doesn't take into account the silent majority or the 11/4 rule

• R&R Repair's assumption that they are still satisfying customers based on the number of positive emails and complaints is also flawed, and they need to measure customer satisfaction properly

• Measuring customer satisfaction through a CSI survey is common, but there may still be a silent majority that doesn't respond

• Companies need to intentionally and consistently ask all customers about their experience and use their responses to improve their service

• The 11/4 rule shows that dissatisfied customers have a significant impact on a company's future success or failure, and it's crucial to identify and resolve their problems.Maximizing Customer Satisfaction: Tracking and Responding to Customer Feedback

• The text describes a customer satisfaction survey with various categories and ratings for service.

• The survey also includes questions about service follow-up and concern handling, as well as overall satisfaction with the dealership and the vehicle.

• The text highlights the importance of reducing non-response rates and providing immediate feedback to customers through live telephone surveys.

• Monitoring and tracking customer satisfaction is essential for success in the competitive repair market, and it should be a performance measurement for every employee in the service operation.

• The text includes a chart of customer satisfaction as an example of tracking data.

• Even companies with limited resources should strive to obtain customer feedback through electronic or mailed surveys and provide a monitored phone number or link for dissatisfied customers to reach someone who can resolve their concerns.

• The data obtained from customer satisfaction surveys is valuable as a management tool to identify the percentage of satisfied customers.

• The text provides a real-world example of a dealership that hired a part-time customer relations specialist to call every customer and ask about their satisfaction, resulting in improved customer climate and increased sales and profitability.

• The ultimate benefit of tracking and responding to customer feedback is the opportunity to identify and address problems and turn dissatisfied customers into satisfied customers.

• Proactive customer satisfaction work can result in sustained growth and increased reputation, as well as the ability to save customers and prevent negative word-of-mouth advertising.

• The willingness to address problems quickly can turn a potential critic into a strong advocate.

• Companies should actively solicit responses from every customer and obtain specific data on every service transaction to maximize customer satisfaction.