Cvent Survey

Netflix was ranked #1 for customer satisfaction for the fifth consecutive year, beating the other Top 100 online retailers. The new customer satisfaction survey, released by FGI Research, has Amazon falling a short second, and Avon.com, DrsFosterSmith.com, Newegg.com and QVC.com tied for third. The FGI survey report estimates a single point increase in customer satisfaction could result in an increase of 9% of the online retailer's year-over-year sales. Furthermore, satisfied online visitors are 44% more likely to make purchases through the retailer's other channels (like in the store). More importantly, they're 72% more likely to recommend the brand. Customer satisfaction has a direct correlation to customer loyalty.

These survey findings are very similar to another FGI Research report we shared with you back in December 2008. While Netflix and Amazon still top the ratings, other rankings have shifted - for better or worse. Back in December Apple.com, Barnes & Noble, LLBean.com, Newegg.com and Wal-Mart.com shared the number three spot. Everyone except Newegg.com saw their rankings fall a few points. If FGI's estimate holds true, those fallen points could translate to drops in year-over-year sales figures.

What does this mean for you? Just because you have a high customer satisfaction ranking today, it doesn't mean you'll be able to hold on to it tomorrow. Netflix is continually improving their offering and delivering on their promises. Competitors will always try to best you to gain market, wallet or mind share - or perhaps all three. Don't sit back and rest on past rankings. Organizations should be trying to improve, always offering a better customer experience, always trying to boost customer retention.

How does your customer satisfaction compare to last month, last quarter or last year?