Customer satisfaction is no longer enough

Andrew Wiseman

Andrew Wiseman, a director at Nunwood's Market Analytics business division, argues that though customer satisfaction is recognised as an important contributor to business success, the measurement of the return on investment in these programmes is not.

Customer satisfaction is no longer enough

Andrew Wiseman

The measurement of customer satisfaction in an increasingly service-based economy has become a central key performance indicator for many of today's large corporations, sharing territory with more traditional indicators such as market share and profit. However, the whole premise that improving the customer experience will drive significant customer value, and hence bottom-line profit, is based on a relatively unheralded assumption that the customer experience will yield benefits through financial gain.

MAKE MONEY OR SAVE IT

Given the increasing downward pressure on marketing and research budgets, there is an increasing need for all...

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