Customers are buying more, but they aren’t happy about it. Here’s why.
Customer satisfaction dropped 0.5% to 75.3 on the American Customer Satisfaction Index (ACSI) 100-point scale this quarter. The ACSI hasn’t improved in nearly two years despite an economic recovery that has people spending more on everything from televisions and cable to vehicles and gasoline.
One reason is customers aren’t happy about rising prices in their neighborhood stores, online and at the pump, says ACSI founder Claes Fornell.
If your company has raised prices, or you hear customers grumbling about prices, it’s time to talk value. Keep a list of why your services or products provide more bang for the buck than your competitors (i.e., last longer, better quality, warranty options, liberal return policies, etc.) and remind customers of those that are most important to them.
