Why Customer Satisfaction is Critical
Firms may be wise to focus on meeting customer expectations rather than exceeding them.
Customer satisfaction is one of the most powerful predictors of re-purchase behaviour and the essence of the business, says Prof. Laurence Ashworth, Distinguished Faculty Fellow of Marketing at Smith School of Business, Queen’s University. As such, marketers are eager to know not only their customers’ level of satisfaction but what’s causing it, such as service, price, customer expectations and perceptions of fairness.
In this video, Prof. Ashworth cautions that as customer expectations get higher and higher, it becomes ever more difficult for businesses to meet those expectations. As a result, firms may be wise to focus on meeting expectations rather than exceeding them. He also cautions businesses to not be too friendly in the customer interactions; his research shows that’s a customer turn-off. Friendliness works in friendships, he says, but doesn’t work when you’re trying to create a friendship.
Prof. Ashworth advises businesses to do their core product or service well and meet expectations; make it easy for customers to review the business offerings and complete their transactions; and show they value their customers.