Why is measuring customer satisfaction important, even for small companies?

Customers have the power to make companies grow or make them disappear, simply by deciding whether or not to buy their products. So, whatever the size of a company, it's vital to implement a customer satisfaction strategy to retain customers and even acquire new ones at lower cost.

SatisFactory, the feedback management specialist, supports small, medium and large companies in building a strategy and measuring customer satisfaction in all areas of their business. So don't hesitate any longer, and come and discover our different solutions!

Customer satisfaction definition

Customer satisfaction is defined as a comparison between what the customer expects and what he or she perceives of the company's performance, whether in acquiring a product or a service. It encompasses a wide range of data and concerns all areas of the company. The definition of customer satisfaction depends on the perception of each individual customer.

The definition of customer satisfaction is often complex to grasp, since it is subjective and relative to each customer. For example, a company's performance may appeal to certain target groups, while displeasing others. Customer satisfaction is also evolutionary, since customers' expectations and perceptions of a product or service can vary over time.

Why is satisfaction so important?

Customer satisfaction is essential for all companies, whatever their size or sales figures, and can even be vital for SMEs. Indeed, small businesses need a steady customer base to survive, and if they want to grow they'll even need to win new customers, and then keep those new customers.

If the customer is satisfied, he will return to buy from the company, and may even recommend it. Conversely, if they're dissatisfied, they won't come back and may even spread negative opinions about the company, damaging its image and sales. The customer therefore wields a great deal of power. All the more so since, with the numerous means of ordering and comparison available via the Internet, customers are extremely versatile. Good customer satisfaction can therefore be a competitive advantage.

From a financial point of view, measuring customer satisfaction is all the more important for small companies with limited resources, since retaining customers is far less expensive than acquiring new ones. In fact, according to the Harvard Business Review, customer loyalty costs 5 to 25 times less than customer acquisition.

Why and how to measure it with a customer satisfaction form or other tools?

If customer satisfaction is so important, measuring it is logically indispensable. Indeed, it's necessary to opt for a customer satisfaction measurement to gain perspective on your performance, so as not to move forward blindly. This measurement, via the customer satisfaction form or other measures, enables you to identify areas for improvement and the exact expectations of your customers.

For this, you can call on SatisFactory, your company specialized in customer satisfaction, which will support you in building the tools you need and creating a real customer satisfaction strategy. Thanks to SatisFactory, you'll know how to create a customer satisfaction questionnaire and obtain relevant feedback on your actions and performance.