Competition among businesses is possibly the fiercest it has ever been. Consumers now have more choice than ever before, and the advent of the internet has brought a host of other purchasing opportunities.

As a result, pressure is on companies to make sure they offer something extra to their customers, otherwise they risk losing them to one of many competitors.

Customer satisfaction is therefore the difference between thriving and surviving – and the modern day environment makes this more important than ever.

Consumers become more vocal

People are not afraid to tell companies what they think and while this can bring advantages, it can also seriously detriment a business if not dealt with properly.

Social media has become increasingly prominent over recent years, giving firms a platform on which they can interact with customers – and one for consumers to air their grievances.

If your customer satisfaction levels are high in the first place then you shouldn’t have anything to worry about. Why not ask customer survey questions to deal with any issues before they become too much of a problem?

Social media needs to be seen as a positive tool that can be used to benefit your business in the long run, rather than something that should be feared.

Word of mouth boosts revenue

Personal recommendations are still one of the primary drivers of business growth, so satisfied customers are more likely to put your company’s name forward to family and friends.

Even the slightest mishap could encourage them to switch to one of your competitors – can you really afford to lose the business?

Evidence suggests it is much more profitable to keep existing customers on board than attracting new ones, so make sure those word of mouth recommendations work in your favour.

Click here for a free custom-branded demonstration of PeoplePulse to see what your customers think of your business.