Why is provider satisfaction so important?

This article explains why measuring provider satisfaction is important for any organization that wants to take things to the next level.

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

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, provider 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 provider 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 provider 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

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