Why customer satisfaction is necessary?

There is a saying that “Retaining satisfied customers is cheaper than acquiring new ones”. Obtaining the attention of customers, gaining their interest and converting them costs up to 6 times more than retaining existing customers. This is why it’s worth focusing and spending resources on keeping existing customers satisfied with your goods and services. Don’t forget about your consumers after one-time deals and encourage them to keep up good relationships during a long-term period.
Customer satisfaction matters even more than price. Customers want to be treated right. Plenty of research proves that the majority of customers will choose the company that made them satisfied even if it offers higher prices over a cheap but low quality service option.
Customer satisfaction promotes customer loyalty. As long as you can retain trusting and loyal relationships with customers and keep them satisfied, they will keep on coming back to buy from you.
Customer satisfaction reduces negative word of mouth. As research shows, customers are more eager to share negative experiences than positive reviews and recommendations. Add to this the fact that people tend to believe other customers more than company representatives and advertisement.
So losing one unsatisfied customer means losing up to 20 more customers because of their bad experience spreading through word of mouth.