nearest competitor

Customer Satisfaction

Firms Fail to measure Customer Satisfaction

Firms are missing out on critical feedback on their products and services, because they are failing to monitor customer satisfaction effectively, according to market research firm Shape the Future. The research revealed that while 70% of businesses monitor their customers’ satisfaction, 56% of these are only using basic and informal techniques. The remaining 30% of businesses do not measure customer satisfaction at all as they believe customers would approach them if there were problems, or they are too busy. Shape the Future managing director Peter Martin said; “Businesses think that customers will come back to them with problems, but in reality they will just walk down the high street to the nearest competitor. The only time you get unsolicited feedback is when people either ... »