Beyond satisfaction: Connecting with customers to maximise business performance

In this slow growth/no growth business environment, many companies make the mistake of following three common myths about customer satisfaction: that merely satisfying customers is sufficient to garner improved business performance results; that tracking customer satisfaction scores will help improve performance; and that all that is needed to improve customer service results is a ‘silver bullet’. J.D. Power and Associates data indicate that companies must do far more than just keep their customers satisfied however — they must truly delight them if they are to achieve the kind of customer loyalty that leads to significant financial results. Additionally, they must do more than simply measure their customers’ satisfaction — they must create a customer-focused culture. Finally, companies must recognise that meaningful improvements in customer satisfaction are realised not by doing just one thing, but by a series of actions that are predictive of customer satisfaction improvements.