The stats speak for themselves
Next to the many reasons why product satisfaction is important, the numbers actually speak for themselves already. So we figured we’d go over them first. For example, did you know that:
- 70 percent of senior marketing managers are convinced product satisfaction is a crucial metric for businesses to manage and monitor their progress?
- In an organization with high customer satisfaction such as Zappos, 70 to 75 percent of all purchases are made by returning customers. Moreover, again in the case of Zappos, returning customers tend to order more than twice the amount they ordered as new customers.
The importance of product satisfaction
Still not convinced? These reasons are definitely worth a read:
1. Stakeholders are more expensive to gain than to retain
Gaining new stakeholders is more expensive than retaining the ones you already have. Think about it: treating a stakeholder to a friendly smile
costs your organization nothing. The ad campaign that attracted the visitors to your business in the first place, however, does.
2. An unsatisfied stakeholder can never be a loyal stakeholder
No matter how great your organization compares to the competition, product satisfaction is important if you want stakeholders to stick with you. Unsatisfied people will always take their business elsewhere, even if it means giving up advantages only your organization offers.
- Did you know? Rather than pushing customer service staff to sell, sell, sell and hang up the phone as quickly as possible, Zappos encourages them to establish an emotional connection with the customers they talk to. It doesn’t even matter if they make a sale. Zappos’ longest call lasted for 8 hours – and the sales rep was lauded for it.
3. You can’t measure success without measuring product satisfaction
Sure, you’ve got your goals all set out and you’re meeting all the deadlines. But what if your target audience actually prefers a different approach? Without measuring product satisfaction, you can never be sure if you’re on the right track in the long run
Find out how happy your target audience really is
Can’t wait to start measuring product satisfaction? Create your survey today!
It’s fast. It’s easy. And the ROI is priceless.