The American Customer Satisfaction Index defines customer satisfaction as a ‘strategic asset’ that should be optimized—not necessarily maximized. For instance, as a company becomes larger, it naturally gains a more diverse customer base which, in turn, makes consistently delivering high satisfaction more difficult. Some of the top 10 suggestions include: Understand What Customers Expect—companies should focus on satisfying customers while also creating greater profit at lower risk. In other words, delight the customer with an amazing experience but with realistic aims. Quality Performance Matters: Quality trumps price, and more broadly, quality also trumps value as a driver of customer satisfaction. One of my favorites is ‘Stick Around and Be Loyal’. Since P&C works with so many iconic brands and multi-generational businesses, we see firsthand the powerful benefits of longevity. Not surprising to us, customer loyalty has actually increased in the past 12 years. Reach out to us to learn how we work with our clients to bolster this strategic asset.
