2024 Spring Customer Strategy & Planning (Virtual)

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Published on 02 August 2023

Reversing a decline in customer satisfaction can unlock productivity gains for business

With economic conditions tight and a possible recession looming, every customer purchase decision matters to businesses. Whatever sector you’re in, there are many facets to enticing customers to buy – quality, value for money, convenience – but one of the key ingredients is customer service. Keeping satisfaction high through service excellence will maximise levels of repeat business and increase brand advocacy to others. Investing in the service agenda has a clear ROI, as The Institute has long argued.

It is worrying, therefore, that our research at this critical juncture finds customer satisfaction is now on a downward trend. The UK Customer Satisfaction Index (UKCSI) tracks customer sentiment twice yearly and has been running since 2009. It covers the complete waterfront of the economy across 13 sectors and gathers data from thousands of customers.