How many cars have you bought without asking the salesperson a single question or done any type of investigation on the vehicle? If you are like 9 out of 10 people, the answer is zero.

With this in mind we were shocked to learn that a growing number of businesses are shying away from customer satisfaction studies. In a nationwide poll conducted by Powerfeedback of 811 businesses we discovered that nearly 68% of them had not conducted any type of customer sat study in the last 12 months and that 66% had no intention of doing so within 2011.

Why is this significant and why does this matter?

Good economy or bad nearly every businesses has competitors. When the economic circumstances are as negative as what we continue to experience, businesses have to fight that much harder to maintain their current base of business as well as lure patrons away from their competitors. If you don’t scientifically know what your present clientele is thinking about the products and services that you offer how can you make improvements much less prevent customer leakage? Similarly, if you do not have a precise understanding of market conditions how would you efficiently and economically make adjustments to your product lines and services?

It is easy and a typical gut reaction to pull back on market research when business conditions are weak however the smartest and most successful companies know that these are the periods where knowing more than their competitors and fully understanding customer needs and desires is the catalyst of success.

To learn how we can help your business have even better and stronger relationships with your customers email us today.