Why is provider satisfaction so important?

This article lists three reasons why measuring provider satisfaction is crucially important for any organization.

 

If you’re like the majority of business owners and managers, you need no convincing that provider satisfaction should be high on your organization’s list of priorities. However, some market researchers believe that provider satisfaction isn’t worth measuring at all. They argue that provider satisfaction doesn’t necessarily translate into target audiences loyalty and that tracking the latter is all that’s important. Are you not quite sure if provider satisfaction should really matter to your organization? This article lists three reasons why provider satisfaction is crucially important for any organization.

 

What is provider satisfaction
Trusted by companies of all sizes
  • T-Mobile
  • BBDO
  • iAmerica
  • Accor hotels

First, let’s talk numbers

Next to the many reasons why provider 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 provider 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 provider satisfaction

Need more convincing? No problem! There are plenty of reasons why provider satisfaction is important:

1. Stakeholders cost more to gain than to retain

Attracting new people is more expensive than keeping the ones you already have. It’s only logical: a friendly smile doesn’t cost your organization a dime. Launching an ad campaign to acquire new visitors, however, does.

2. A satisfied visitor is likely to become a loyal stakeholder

Sure, your organization may outperform the competition in more than one way. But if you really want your stakeholders to stick with you, you can’t ignore provider satisfaction. If people are not satisfied with the overall way you handle things, they will simply move on.

  • Did you know? Rather than pushing customer service to make a sale and then 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 sell something or not. Zappos is even known to help potential customers purchase products from rival companies if they don’t have the items in stock themselves.

3. Measuring success and measuring provider satisfaction go hand in hand

Reaching all your goals and meeting all your deadlines is great. But what if your target audience actually prefers a different approach? Unless you measure provider satisfaction, you can never be sure if you’re as successful as you think you are. Curious to see how satisfied your stakeholders really are? Start measuring provider satisfaction today! Creating an online survey with Survey Anyplace is fast and easy.

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