Overview
Accepting the cost of retaining a customer is less than the cost of acquiring a new one or that the opportunity to upsell and cross-sell to existing customers adds value then it follows that making sure customers are satisfied is important. However, the odds are stacked against the supplier purely by the virtue of human nature. So, satisfying a customer is not enough, we must delight our customers rather than just make sure they got what they paid for.
Customer Satisfaction is the measure of how well we are doing as suppliers. Delight a customer and they will possibly recommend you to someone else. But underperform and customers, whether individual or corporate, will be much more likely to complain.
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