Satisfy customers, make money | CNET News.com: "The link between customer satisfaction and financial success is a lot more than anecdotal, according to a report released Tuesday.
The University of Michigan's American Customer Satisfaction Index, or ACSI, reflects Americans' sense of approval about some of the country's most famous companies and brand names during the first quarter of 2005. And it concludes that companies that concentrate on meeting customers' needs are the ones most likely to make sales and lure new devotees.
The most stark reflection of that fact is the correlation between the near doubling of revenues by both Google and Yahoo and their dominance of the search engine and portal categories, respectively, that researchers put them in.
'It's not a surprise that Google and Yahoo not only do a great job at satisfying their customers but are also both financial successes,' said Larry Freed, president and CEO of ForeSee Results, which co-sponsored the report. 'So that's a great testament to customer satisfaction.'
The flip side to the success of Google and Yahoo, explained Freed, is the smaller advances in revenues and satisfaction ratings received by the two Silicon Valley companies' major rivals, MSN and AOL, which, he said, 'have had minimal growth, if any at all, in revenue, and trail Yahoo and Google significantly in satisfying their customers.' "
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