Customers are the lifeline of many businesses and keeping them satisfied is understandably top priority. At Pure Money Making our team of market research
professionals have extensive experience of conducting research into
customer satisfaction and customer relationship marketing.
Let's first look at retention in relationship marketing. One MasterCard customer makes thousands of dollars of purchases and pays the minimum balance on time each month while another rarely uses the card, but calls ever year to avoid paying the membership fee and at least once a month to demand a lower interest rate. Are both customers of equal value to MasterCard? With limited time and resources, which customer would you tell MasterCard to drop and which to keep
What about satisfaction? The global norm score for customer satisfaction for any marketer is about 74%, a "C" grade.
The reality is that in B2B, user satisfaction does not equal customer retention. Remember, most customers who leave a company leave satisfied and what you can do about it?
As a small business owner, you should always keep a balance between customer satisfaction and retention.FREE APSense Recommendation
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Customer Satisfaction and Retention (CSR) - which is more important?
There are examples of satisfied customer, but still attriting. On the other hand, a business can have dissatisfied customer, but they still can be retained. But which one is more preferable?