Customer satisfaction is of paramount importance in today’s scenario as a satisfied customer is one of the biggest assets for any business.
What makes a customer chose a particular product and service. The decision is effectively taken by evaluating various aspects starting from how unique is the product/service, long term usefulness, how will it fare when compared to other products/services, ease of resolution of pre-sales to post sales requirements, relationship with the company , branding/brand image of the company and definitely any good previous instances or reviews apart from the value the customer gets against the purchase cost.
A satisfied customer is likely t return for the same or other products or services and is also the most effective agent of advertising.
In order to achieve customer satisfaction and retain them- a company should focus on building a framework that facilitates customer service in every possible way- for example a practice to ask the customer to review the product or service at various points of time and incorporate them to better the product / service is one such measure.
In effect the companies should look to create value for their customers.
Customer awareness is very important as a pre sales function as it acquaints them with the product or service.
Companies need to establish a strong relationship with the buyers and make them their proponents/advocates. Customer retention can also be affected by providing financial advantages to customers like a discount for repeat buyers or sponsoring influential customers like YouTubers.
Companies should have a target base for a particular product or service and look to spend to acquire customers who would buy their products/services.
In brevity, customers have to be acquired and retained by providing value to them in returning earning profits to the company.