How Can Customer Satisfaction Increase Your Business Value?
Being able to objectively demonstrate that your customers are happy and intend to re-purchase in the future will make your business more valuable than an industry peer that does not have a means of tracking customer satisfaction.
Like a rising tide that lifts all boats, your industry typically defines a range of multiples within which your business is likely to sell for; but whether you fall at the bottom or the top of the range comes down to factors that have nothing to do with what you do, but instead, how you do it.
Customer Satisfaction is one of the eight key drivers of adding value to your business. If you can prove customer satisfaction to a potential buyer, they are more likely to prefer your business over another. They are also more likely to offer you a higher than average offer.
If you don’t already have one, introduce a system for capturing customer satisfaction using a simple Net Promoter Score (NPS). Identify the most appropriate point along your customer’s journey to ask one simple question, measuring their answer on a 0 – 10 scale:
How likely are you to recommend [brand / company name] to a friend or colleague?
0 = Not at all likely
5 = Neutral
10 = Extremely likely
Here at Uscita we are Certified Value Builders. We help business owners grow the value of their company using The Value Builder System™.
Uscita Solutions have produced a guide which covers Customer Satisfaction along with 7 other key areas that can improve the value of your business. To download your free copy of this guide, please click on the link below;