Every company makes mistakes. When they do, they seek forgiveness from their customers. Customer may vary in their willingness to forgive and forget. Having a high ‘forgiveness’ index is an asset to a company trying to keep customers loyal and satisfied. Temkin, a research company has created a Forgiveness rating from 10,000 US customers across 208 companies and ranked the best and the worst, most improved and biggest losers.

Gary Vaynerchuk has written an excellent book ‘The Thank You Economy’ on how social media is affecting business operations. Some of his points are relevant to customer satisfaction and the psychology of gaining and keeping customers. Seven tips are covered including one on how social media can be used as a no charge, always available focus group.

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