Flour Mills of Nigeria plc (FMN), owners of the iconic Golden Penny brand has recorded another milestone in product delivery, notching a significant score of 98% in a customer satisfaction survey across markets in Nigeria.
The customer satisfaction survey measures a company’s total consumer satisfaction with its products, customer services, and pricing, among other crucial factors. Brand product owners can use it to ascertain the causes of customers’ pleasure and dissatisfaction.
Since customer feedback is an important factor in the creation of strong FMCG brands, measuring customer satisfaction is a key goal for all manufacturers of fast-moving consumer goods. These indicators give manufacturers a comprehensive image of a company’s health and provide insights into many business concerns which require urgent attention.
By calculating the customer satisfaction index, FMCG manufacturers can also discover the areas of their operations that have a stronger impact on customer satisfaction and gauge it to ensure products and services live up to customers’ expectations.
Building customer loyalty is no small feat, but ultimately it is the best way to build a successful business, as it costs five times as much to acquire new customers as it does to keep existing ones. Market research shows that loyal customers are known to spend 67 percent more than new ones in their third year.
This attention to customer satisfaction has earned Flour Mills of Nigeria a solid reputation for being a leading manufacturer of Nigerian food brands, under the Golden Penny Brand name.
Flour Mills Of Nigeria Attains Applaudable Customer Satisfaction Rating In Nigerian FMCG Industry Survey
The company’s commitment to investment in local content innovation, led to the introduction of exciting new products such as the “Amaizing Day” cereal, the goat meat pepper soup Noodle flavour, FMN is driving volume in the economy and value pack segment and ensuring customer satisfaction across all their customer base.
One of the most important metrics for gauging the quality of service and product delivery in a competitive market is trust, embedded in brand loyalty.
For FMCG manufacturers, one of the ways to build a sense of loyalty with customers is to create a sense of shared value, as this keeps customers at the forefront of their business operations not only as responsible corporate citizens but also to stay relevant in today’s marketplace.
Besides earning the patronage of customers, trust etched in brand loyalty is one of the critical indices of measuring qualitative service and product delivery in a competitive market,
While it is important for brands to satisfy their customers, greater awareness and policies are being created by regulatory bodies and policymakers, not only to protect workers and consumers but also to protect the environment from practices that could create an imbalance in nature.