The difference between a good business and a great one is how satisfied its customers are with it. Most companies prioritize cost reductions and meeting deadlines, which are essential, but they tend to overlook going the extra mile to increase their customer satisfaction levels. Since a business primarily exists to serve its existing customers and try to get more, it is only logical that whatever would make the customer happy should be a top priority.
Businesses that do prioritize customer satisfaction levels invest heavily in engaging them. The reason why they choose to do so is not solely because a customer is likely to purchase their product or service but because it leads to positive ‘word-of-mouth.’ In simple terms, word-of-mouth is a customer not only praising your business but also recommending it to others. This is traditionally in the form of a conversation with peers, with its modern version being an online review. All a business needs to know is that its free publicity that will bring a high number of leads because:
- With respect to Nielson’s report, 92% of consumers believe in suggestions from friends and family more than advertising.
- BrightLocal’s Consumer Survey states 88% trust online reviews just as much as they trust recommendations from their peers.
- According to Invesp, word-of-mouth drives $6 trillion annual customer spending and in return is estimated to contribute to 13% of consumer sales.
One can find it alarming that despite all of the statistics as mentioned above, only 33% of businesses actively seek and collect reviews. Arrivy’s project management software with its customer review feature allows businesses to never miss out on getting a review from their customers instantly. This means a company with Arrivy will always know how satisfied its customers are and precisely what needs to be improved to increase customer satisfaction levels further. With excellent reviews and word of mouth, a business can enjoy getting more customers and higher profitability with no additional costs. How ingenious is that!’