INSIDE
THIS EDITION..
Emotional Experience
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PLUS..
ECMW - European Customer Management World Conference
Employee Engagement
Using NLP to improve customer satisfaction
The Voice of the Customer
Fast Guide - Treating Customers Fairly
UKCSI Wave 3 Results
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Does Customer Satisfaction Pay?
With growing emphasis on customer satisfaction as an organisational goal, managers need to justify its business benefits. Nigel Hill, MD of The Leadership Factor, examines the approaches.
In 1987 the American Consumer Association revealed that it cost five times as much to win a new customer as it did to keep an existing one. This was the trigger that propelled many organisations in the advanced economies into a customer focused business strategy. The 1990's saw a huge expansion in the customer service function in most companies, a greater emphasis on service quality and widespread adoption of customer satisfaction measurement. More recent evidence that it might cost twenty times as much to win customers than to keep them seemed to ratify the 'customer is always right' stance adopted by most businesses.
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