ENTREPRENEURSHIP

Detailed explanation-1: -Why is customer satisfaction important? Satisfaction is important because it means your customer base likes what you are doing. Research shows that customer satisfaction leads to greater customer retention, higher lifetime value and a stronger brand reputation.

Detailed explanation-2: -Keeping your existing customers happy should always be a priority. Customer satisfaction is important because it hugely increases the chances of a customer returning to do more business. Customer loyalty won’t come easy if you’re not focused on pleasing your base.

Detailed explanation-3: -What is customer satisfaction? In simple words, customer satisfaction is a measurement that determines how well a company’s products or services meet customer expectations. It’s one of the most important indicators of purchase intentions and customer loyalty. As such, it helps predict business growth and revenue.

Detailed explanation-4: -Repeat sales are an example of brand loyalty. If a customer is happy with a particular brand of shampoo, for example, they may purchase the same product-or another related product of the same brand-when it’s time to replace it.