Is measurement really important?

If you never measure what customers think, you’ll never know how to fix
your deficiencies. Consider these proven statistics:

		It costs 5 to 10 times as much to acquire a new customer than to keep an existing one.
		For every customer that complains, 20 to 30 will not complain, they just won’t come back.
		Each dissatisfied customer will tell 10 friends about the experience.

Customer satisfaction is a leading predictor of future financial success.

		Multiple research projects (and common sense) have demonstrated the direct link between happy customers, loyalty, word of mouth referrals, repeat business, and profits.
		With Mindshare CONNECT™ you will have at your fingertips a management tool that will assist you in predicting future unit-level financial performance – you’ll be able to resolve problems before you lose customer loyalty.

Customers should be your best source of innovative ideas.

		Often, companies overlook their best source of innovative ideas. As Jackie Huba explains, “Asking customers to participate in your problem-solving and idea generation is an act of courage, not of weakness.”
		Inviting customers into your R&D process not only provides a great source of innovation, but it also solidifies their loyalty to helping you succeed.

Read an insightful article – The 10 Golden Rules of Customer Feedback.