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Branding and Customer Satisfaction
Posted: Jan 25, 2019
Branding is the process of recognizing a product with a name or image that describes the features and qualities of a product to customers. Actually, a brand can add additional value to the product. Basically, the brand was identified by the elements that differentiated the product and service from the market competition.
Today branding has become is a bit more complicated, but even more significant in today’s world of marketing.
Therefore, many organizations develop brands as a way to attract and keep customers by promoting value, image, or lifestyle. Branding is essential to nearly every business, from those promoting new technologies to those providing logistic support to other companies.
So, why is branding so important?
- Strong branding can promote recognition for your business
- Your brand sets you apart from the competition
- Strong branding generates referrals
- Branding sets expectations
- Strong brands add value
On the other hand, customer satisfaction is the vital aspect to evaluate the quality of a product and attached attributes in a product. Normally, customer satisfaction is important because it produces marketers and business owners with benefits. So that, they can use to maintain and improve their businesses. In a review of nearly 200 senior marketing managers, 71 percent responded that they observed a customer satisfaction metric very useful in controlling and monitoring their activities.
The Importance of Customer Satisfaction for Your Marketing Strategy
1. Encourages customer retention and reduces customer churn
Most of all, many marketers observed that the main reason behind the customer churn is not price, but it is the poor quality of products and services offered. If you work hard to satisfy your clients, they will keep doing business with you.
2. Assists repeat buying
Satisfied customers manage to come back and do business with you. This will not only help you increase your revenue, but also establish a good business relationship with you.
3. It limits corporate changes
If your customers are happy with your services and products, they will want your company or business to survive any change that may come around. They may even try to assist you in ensuring the industry survives.
4. Publishing your brand through positive word of mouth
Actually, happy customers can sell your brand and business to you. They promote your products and services to their friends and relatives through the word of mouth communication.
5. Boosts market share and revenues
Especially, customer satisfaction encourages customer retention. This fact contributes to increased market share and revenues.
Consequently, giving an excellent customer service will satisfy both you and your target audience.
As a result, they get a right service, you get precise revenue, and it becomes a win-win situation for both parties. That’s why you should never ignore the benefits of customer satisfaction. It’s high time to face the truth – your brand can always do better!
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Minal Chavan Sales and Marketing at Global Advertisers - The Ultimate Choice in Outdoor Advertising. (Mumbai, Maharashtra, IndiaMarketing and Advertising)