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Customer satisfaction is a reflection of the overall business strength of an organization. Higher renewal and recommendation rates, plus increased cross-selling opportunities are directly related to customer satisfaction. Additionally, acquiring a new customer can cost six to seven times what it costs to retain an existing customer.
Each year, J.D. Power & Associates1 conducts a National Auto Insurance Customer Satisfaction study. The top five companies in regard to customer satisfaction for 2010 are among The Institutes’ most active supporters, with an average of 15% of their employee base participating in Institutes programs and courses. Conversely, the five companies with the lowest satisfaction rates are among The Institutes’ least active supporters with less than 2% of their employee base participating in professional development with The Institutes.
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