Babak Shahbaz: The Importance of Satisfied Customers

Most people know that customer satisfaction is important. However, it is the few that realise just how much it means. It also varies how big of an emphasis companies choose to put on it. You will probably rarely hear a company say that do not value customer satisfaction at all. But there is still a big differenence between the companies where customer satisfaction is part of their core DNA to those where it is just something that is pronounced on the surface.

Babak Shahbaz - CEO and business owner - does not have a doubt in his mind that a large part of FuelSupply's succes is due to their great focus on customer service and customer experience. Within bunker operations some companies tend to abdicate their responsibilities once the order is confirmed instead of following through until the completion of the project. At FuelSupply the focus on the customer and the effort to take on responsibility is made a core value. This entails making customers feel that they are at the forefront and taking big steps in order to ensure that they are satisfied. Hence, all problems that may arise during a project are solved, customers are informed on an ongoing basis and customers are kept up to date in relation to deliveries. As Babak Shahbaz emphasizes this approach can be tranferred to other industries.

POWER HAS MOVED

With the advent of new media and new technology, we have witnessed a displacement in relation to the power relation between companies and consumers. One of the things that has changed radically is the consumers' ability to express their views and opinions. With media like Trustpilot, Facebook and Google, consumers now have the opportunity to share their shopping experience via a review. A negative review can quickly have major consequences for the individual business. Conversely, a good reputation enhances your chances of being chosen by the consumer. A thing like good reviews that appear when doing a company search on Google is very important in terms of reputation.

If we look at how much a customer is worth, loyal customers are also incredibly important. Acquiring a new customer can be expensive - and even more expensive if they do not become ongoing customers. The more you can improve your customer life time value, the better. In business, it is just as important to keep current customers rather than just focus on acquiring new ones. One of the methods to gain loyal customers is, of course, via customer satisfaction. Once you have convinced the customer of the fact, that you are the safe and secure choice, they will have less tendency to switch to a competitor. The same principle applies at FuelSupply, where Babak Shahbaz explains that they largely live on their loyal customers, who know what they are getting.

Is there any difference from industry to industry?

There is no doubt that customer service and customer satisfaction is important in all industries. However, there are industries in which it matters more. This depends on - among other things - what kind of purchase decision the consumer has to go through. There is quite a difference between buying a new mobile phone and a carton of milk. One of the main differences is the level of information research that you do before purchasing. When it comes to a purchase that you are deeply involved with, there are also more paramtres that affects your decision. One of them could be customer service. Hence, it does matter what business you operate in and what kind of product you are selling. However, you should always aim at having a high degree of customer service. In the end it just might be the thing that makes you stand out from your competitors.

From more insights from Babak Shahbaz, see here.