The importance of keeping customers satisfied

In a full-page feature about the Customer Satisfaction Index of Singapore (CSISG) released by the Institute of Service Excellence (ISE) at SMU, ISE Executive Director Neeta Lachmandas commented that businesses must continue to keep on making efforts to raise customer satisfaction as this is important for them and the overall health of the Singapore economy. "The CSISG model postulates that better customer satisfaction performance is positively correlated with customer loyalty and therefore the long-term competitiveness of a business. Higher customer satisfaction levels also predict lower incidence of customer complaints.” Asked what the institute aims to achieve by producing the CSISG and focusing on different sectors of the economy each quarter, Ms Lachmandas said: "The CSISG provides an objective, independent benchmark that allows companies to track their relative performance in customer satisfaction year on year.”