For every business, be it big or small, customer satisfaction is one of the determining factors for customer loyalty. Customer satisfaction is a term widely used in marketing, which is used to determine whether a particular product or service meets customer requirements or not. The marketer uses this data through which they can manage and improve their business. Customer satisfaction will help in reducing customer churn and increases customer lifetime value.
The 5 P's will help you sort and organize several things you should understand about your company which can help your customers better than anyone else. The Five P’s of customer service are:
- Product: Businesses should create a product that customers want. Make sure that it covers their needs and provides the services which they desire.
- Policies: Make customer-friendly policies that will make your customers happy. It will consist of effective return policies and anything that helps customers feel satisfied.
- People: You want your employees to help your customers. If they will, people will refer them to your employees. They should do every single thing to assist your customers.
- Processes: The strategic implementation of plans to achieve your customer satisfaction goals can be termed as processes. You apply new ideas and ways to enhance customer service.
- Proactively: Making a process smooth for customers will easily make a purchase or return a product if they face an issue. Make it as fast as possible.