Customer Satisfaction & Monitoring Satisfaction of Customers (Marketing Video 19)

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Customer Satisfaction refers to the number of customers whose reported experience with an organization and its products or services exceeds set satisfaction goals.

Customer Satisfaction in simple terms is the overall impression made by the customer about a supplier.

If the product performance matches the expectation then the customer is satisfied and if not then dissatisfied.

Satisfied Customer – Benefits

Stay loyal to the brand and the product.

Continue buying from the company when they introduce a new or upgraded version.

Talk positively about the brand and the product.
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Be less sensitive to the product price.

Paying less attention to the rival brands.

Retaining customers is less expensive than adding new customers

Monitoring Satisfaction – Methods

Monitoring satisfaction refers to a continuous process of measuring how the product or service of an organization meets or surpasses customer expectation.

Methods

1. Regular repeat orders
2. Referrals
3. Customer satisfaction surveys
4. Complaints trends
5. Mystery shopping
6. Net Promoter Score
7. Customer Effect Score

Monitoring Satisfaction – Net Promoter Score

Net Promoter Score refers to the measurement of customer loyalty and satisfaction by asking the customers how likely are they to recommend a product or service to others on a scale of 0 – 10.

Example of companies and their NPS

1. Netflix – 68
2. Starbucks – 77
3. Amazon – 62
4. Airbnb – 74
5. Tesla - 96

Customer Effort Score

Customer Effort Score refers to a customer service metric used to measure user experience with a product or a service on a seven-point scale from Very Difficult to Very Easy.

Example

1. Amazon’s 1 Click Patent

This video is on Customer Satisfaction and how to monitor the satisfaction of customers. It has the following sub-topics.

Time Stamps

0:00 Introduction to Customer Satisfaction
00:42 Satisfied Customer Benefits
01:12 Monitoring Satisfaction
01:36 Monitoring Satisfaction Methods
01:55 Monitoring Satisfaction Net Promoter Score
02:38 Net Promoter Score Tesla NPS
03:02 Customer Effort Score
03:29 Example Amazon’s “1 Click” Patent