Customer Satisfaction Archives - Making Every Word Count

Why Customer Retention Strategy is the Ultimate Competitive Advantage

I recently read about research conducted by Gartner that shared an encouraging insight for business leaders. A Gartner survey of 243 CSOs and senior sales leaders found that 73% are prioritizing growth from existing customers, with 57% ranking account retention and growth as a top three priority heading into 2026. I found this to be a welcome change in perspective – and evidence that a customer retention strategy is now well recognized as a great move.

I wrote about this topic 10 years ago, from a different perspective, Is there a Link between Customer Satisfaction and Loyalty? That article provided insights on this important alignment, which still rings true today!

Just a few years ago, it seemed that a disproportionate amount of time, effort, and budget continued to be devoted to winning new “logos” rather than retaining existing customers.

Marketing is More Than Advertising

I find it interesting when I speak with new acquaintances and they ask me what I do. I’ll typically respond with “I’m a marketer” or “I’m part of a marketing team.” Nine times out of ten, the response I’ll get back is “Oh, you do advertising.” I used to be surprised with this response, given that advertising is really just a small part of the marketing discipline. Now, I have come to expect it.

Of course, advertising is a part of the marketing mix. It comes in many forms, as shown in this recent media share chart.

Average allocation of advertising budget for marketers in 2013. Source: BIA Kelsey.

Each of these categories is part of the advertising spend, with each component offering unique advantages and opportunities, depending upon what you are selling and where your audience resides.

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Is there a Link between Customer Satisfaction and Loyalty?

Few would argue the importance of customer satisfaction. Every business owner strives for happy customers. In practice, however, what does it mean to achieve customer satisfaction? What makes a happy customer? Are they more profitable? More loyal?

Fortunately, considerable research has been performed on this subject, which will be quite helpful to address these questions. The first challenge is to understand what is actually going on versus what business owners think is going on. According to Lee Resources, 80% of companies say they deliver “superior” customer service, but only 8% of people think these same companies actually deliver this type of service. That is quite a perception gap. A big part of the reason why such a gap exists is that most unhappy customers don’t tell you – only about 4% – according to “Understanding Customers” by Ruby Newell-Legner.

Continue reading Is there a Link between Customer Satisfaction and Loyalty?