How important is customer satisfaction?

Last month, a package I ordered from one of my favorite stores, Sephora, was lost. It was no fault of Sephora's; it was the office staff at my sister's apartment complex who signed for and then lost the package. Unfortunately the package contained a Christmas gift that I needed to get wrapped for my family's early celebration that week. Not an ideal situation.

Anyway, I decided to call Sephora to see if the package had accidentally been sent back. I wasn't calling to get them to replace my order, but with no questions asked, that is exactly what they did. It was that easy.

Now, I don't know if the fact that I frequently order stuff from Sephora has anything to do with it. If so, it's a great way to treat your loyal customers. Had I been irate with Sephora, replacing a $50 order could have saved them from losing hundreds of dollars in business in the future.

I didn't have any negative feelings towards Sephora about the lost order, but they took a bad situation and turned it around with a positive customer experience. I came out feeling more valued as a customer and more likely to recommend and promote their brand. (Just to be clear, I'm not an all-out advocate of the way they're running things. Their online customer service leaves much to be desired.)

Now, let's take a look at the recent hype over the Nexus One. Yesterday I saw an Engadget article shared by Kasey Skala on Twitter. It was about how Google is only offering the subsidized pricing for the phone to new T-Mobile subscribers. Current customers are left to pay $529 if they want the phone, even if they're eligible for an upgrade.

I don't necessarily want this phone, but as a T-Mobile customer I'm left with a bad taste in my mouth about the situation. I've been a loyal subscriber since 2002 and I can't get a deal on a phone? Really? This might have more to do with Google than T-Mobile, but that doesn't stop me from being less satisfied with my relationship with T-Mobile. It makes it seem like they're more concerned with bringing in new business than satisfying current customers.

Don't get me wrong, I understand the importance of driving in new business. But I also understand things from a customer's perspective, and T-Mobile has left me feeling dissatisfied with our relationship. I don't feel valued, which may be the cause of lost business for them in the future.

What are your thoughts? How can businesses do more to strike a balance between attracting new customers and keeping their current ones happy?

*Image via scienceblogs.com