Customer satisfaction is a measurement that determines how happy customers are with a company’s products, services, and capabilities. It impacts financial performances, such as sales growth, market share, stock price, and more. As you may know, customer satisfaction relies on good customer experience, thus companies invest time and money into CX tools. However, American Customer Satisfaction Index (ACSI) finds that customer satisfaction has declined for 4 consecutive years (2018-2022). So, how to improve customer satisfaction? 

Here are some things that need to be considered. 

1. Understand customers’ expectations. 

Customers would be satisfied when their expectations are met. However, many businesses aim to exceed customer expectations. This could backfire, especially for businesses that have limited resources. Companies should please customers with outstanding experience while maintaining reasonable goals. 

2. Quality surpasses the price. 

Contrary to what managers believe, quality (i.e. customizability and reliability) has a more significant effect in improving customer satisfaction than price. Moreover, we’re in a mass customization era, so happiness is more sensitive to the customizability of products and services. 

3. Listen to customers’ complaints. 

Complaints could be irritating and take time and resources to handle. However, companies that respond well to great complaints build stronger customer loyalty. In other words, good complaint handling could make customers as satisfied as before they complained, or even more. 

How do you agree with it and how have these strategies help your business?