Canadian businesses ranked highly for customer satisfaction
If you've ever heard the saying "the customer is always right," then you already know how important customer satisfaction is for businesses of all kinds. Your customers are your business, so it's crucial that their satisfaction ranks high amongst your priorities.
In order to help you put your customers first, here are just a handful of reasons why the satisfaction of every patron, shopper, and client is so important.
Customer satisfaction statistics
Satisfied customers are the bread and butter of any successful business and according to a recent global customer satisfaction survey, it just so is the case that Canada ranks number two in the world for customer satisfaction.
That's right; the Great White North came in at 91 percent for customer satisfaction, which is only 2 percent below the top country, New Zealand. The survey ranks 125 countries in business-related categories such as top industries and best business practices.
From its continuous efforts to improve customer support to its top-notch personalized service and its ability to meet demand with supply, it's no wonder Canada is winning the worldwide customer satisfaction race.
Why customer satisfaction is important
Your customers are the reason your business is a business. Because of this, it's imperative that their satisfaction comes first.
With that said, here are 4 reasons why your business should be customer centric all the time:
Happy customer is a returning customer
When your customers have a great shopping experience, they're all the more likely to return. By making customer satisfaction your business's top priority, you'll keep them coming back time after time.
Satisfaction sets your business apart
There's plenty of competition out there, but if your business is consistently known for its customer satisfaction, it gives your business a step up on the competition.
Word of mouth goes a long way
In the digital age where online reviews can make or break your business, customer satisfaction results in positive word of mouth or, better yet, it helps your business avoid any negative press.
Return customers are cheaper to retain
From a purely business standpoint, return customers are much cheaper to retain than finding new ones. Why? Well, with all the campaigning and advertising it takes to get just one new customer in the door, you'll end up spending twice as much finding new customers as you would satisfying the ones you already have.
Other important customer satisfaction points to consider
When a customer walks away from your business smiling, then you know you've done your job. But, it sometimes takes more than a few happy customers to ensure your business is doing all it can in terms of customer satisfaction. With this in mind, it's important to measure your business's level of customer satisfaction on a regular or continuous basis.
Depending on the type of business you run, customer satisfaction surveys can give you a more detailed look into your customer satisfaction best practices. Surveys are a great way to find out how your business is doing in such departments as overall satisfaction, price satisfaction, and product satisfaction. Just make sure you put your customers' suggestions to good use.
By keeping in mind the importance of customer satisfaction, your business will thrive and Canada will remain at the top of the global customer satisfaction list.
About the author
Adam Groff is a freelance writer and creator of content. He writes on a variety of topics including home improvement and family budgeting.
Marketing matters: from IBM to Kyndryl
Prior to joining Kyndryl as Chief Marketing Officer, Maria had a 25-year career at IBM, most recently as the tech giant’s CMO where she oversaw all marketing professionals and activities across North America, Canada and Latin America. She has held senior global marketing positions in a variety of disciplines and business units across IBM, most notably strategic initiatives in Smarter Cities and Watson Customer Engagement, as well as leading teams in services, business analytics, and mobile and industry solutions. She is known for her work with teams to leverage data, analytics and cloud technologies to build deeper engagements with customers and partners.
With a passion for marketing, business and people, and a recognized expert in data-driven marketing and brand engagement, Maria talks to Business Chief about her new role, her leadership style and what success means to her.
You've recently moved from IBM to Kyndryl, joining as CMO. Tell us about this exciting new role?
I’m Chief Marketing Officer for Kyndryl, the independent company that will be created following the separation from IBM of its Managed Infrastructure Services business, expected to occur by the end of 2021. My role is to plan, develop, and execute Kyndryl's marketing and advertising initiatives. This includes building a company culture and brand identity on which we base our marketing and advertising strategy.
We have an amazing opportunity ahead at Kyndryl to create a company brand that will stand apart in the market by leading with our people first. Once we are an independent company, each Kyndryl employee will advance the vital systems that power human progress. Our people are devoted, restless, empathetic, and anticipatory – key qualities needed as we build on existing customer relationships and cultivate new ones. Our people are at the heart of this business and I am deeply hopeful and excited for our future.
What experiences have helped prepare you for this new opportunity?
I’ve had a very rich and diverse career history at IBM that has lasted 25+ years. I started out in sales but landed explored opportunities at IBM in different roles, business units, geographies, and functions. Marketing and business are my passions and I landed on Marketing because it allowed me to utilize both my left and right brain, bringing together art and science. In college, I was no tonly a business major, but an art major. I love marketing because I can leverage my extensive knowledge of business, while also being able to think openly and creatively.
The opportunities I was given during my time at IBM and my natural curiosity have led me to the path I’m on now and there’s no better next career step than a once-in-a-lifetime-opportunity to help launch a company. The core of my role at Kyndryl is to create a culture centered on our people and growing up in my career at IBM has allowed me to see first-hand how to prioritize people and ensure they are at the heart of progress in everything Kyndryl will do.
How would you describe your leadership style?
I believe that people aren't your greatest assets, they are your only assets. My platform and background for leadership has always been grounded in authenticity to who I am and centered on diversity and inclusion. I immigrated to the US from Chile when I was 10 years old and so I know the power and beauty that comes from leaning into what makes you different from other people, and that's what I want every person in my marketing organization to feel – the value in bringing their most authentic self to work every day. The way our employees feel when they show up for themselves authentically is how they will also show up for our customers, and strong relationships drive growth.
I think this is especially true in light of a world forever changed by the pandemic. Living through such an unprecedented time has reinforced that we are all humans. We can't lead or care for one another without empathy and I think leaders everywhere have been reminded of this.
What’s the best leadership advice you’ve received?
When I was growing up as an immigrant in North Carolina, I often wanted to be just like everyone else. But my mother always told me: Be unique, be memorable – you have an authentic view and experience of the world that no one else will ever have, so don't try to be anyone else but you.
What does success look like to you?
I think the concept of success is multi-faceted. From a career perspective, being in a job where you're respected and appreciated, and where you can see how your contributions are providing value by motivating your teams to be better – that's success! From a personal perspective, there is no greater accomplishment than investing in the next generation. I love mentoring younger professionals – they are the future. I want my legacy as a leader to include providing value in work culture, but also in leaving a personal impact on the lives of professionals who will carry the workforce forward. Finding a position in life with a job and company that offers me a chance at all of that is what success looks like to me.
What advice would you give to your younger self just starting out in the industry?
I've always been a naturally curious person and it's easy for me to over-commit to projects that pique my interest. I've learned over years of practice how to manage that, so to my younger self I’d say… prioritize the things that are most important, and then become amazing at those things.