What is Customer Satisfaction?
Customer satisfaction (CSAT) is a measure of how products and services supplied by a company meet or surpass customer expectations. Customer satisfaction is defined as "the number of customers, or percentage of total customers, whose reported experience with a product, or services exceeds specified satisfaction goals."
Customers play an essential role and are crucial in keeping a product or service relevant, so it is in the business's best interest to ensure customer satisfaction and build customer loyalty.
Why is Customer Satisfaction is important?
Customer satisfaction can be used to measure and improve business performance from a customer perspective. It is a leading indicator of consumer loyalty and helps understand if they will become long-term repeat customers or even advocates. It can also provide the initial warning signs that a customer is unhappy and potentially leaving. Customer satisfaction helps understand what aspects are succeeding and what needs improvements need.