Now, instead of settling for mere satisfaction, organizations must strive to exceed buyers' expectations .
With the advancement of technology, customers are now just a click away from an infinite variety of products and services. As a result, their expectations are at unprecedented levels.
To support this importance, a report from Grand View Research revealed that the customer experience management market is worth an estimated $7.6 billion globally . That means that customers around the world are investing to figure out what, how, and when their buyers want it.
In this article, you'll learn free philippine number for whatsapp why it's important to keep customers happy and how businesses can maintain long-lasting relationships with them and increase their profits. Find out below:
What is a satisfied customer?
Why is it important to have satisfied customers?
How to treat a satisfied customer?
5 types of clients and how to satisfy their needs
5 characteristics of current customers
What is a satisfied customer?
Satisfied customers are those who show a higher degree of satisfaction with the experience provided by a company.
This type of buyer is not only happy with the product or service purchased, but is happy with most of the interactions they have with the company, including the sales or support team, quality, delivery, among others.
Beyond conventional satisfaction, satisfied customers often become brand advocates or ambassadors by sharing their experiences with friends and family. These recommendations expand the company's reputation in the market.
In fact, 72% of consumers say they will share a positive experience with a brand with more than 6 people.
This is no small feat, as another study highlights that 92% of customers around the world trust recommendations from friends and family about products or services.
Why is it important to have satisfied customers?
Having satisfied customers has a significant impact on a company's profitability because they are willing to pay a higher price for products or services that exceed their expectations.
For example, according to Zendesk's Cx Trends 2023, 70% of consumers buy more from companies that offer seamless conversational experiences.
Furthermore, this brand loyalty makes them less likely to buy competitors' products. This translates into greater retention, stability and profits for companies.
To put it into numbers, acquiring a new customer is 7 times more expensive than retaining an existing one. And, what's more, companies that increase their investment in customer retention by 5% can increase their profits by up to 95%.