We use two sets of customer satisfaction measures obtained from a homebuilding com-pany to examine the effect of measurement timing on the association between customersatisfaction measures and future financial performance. The research site employs two sep-arate consulting firms that measure customer satisfaction at different times from the samehomebuyer population. A national consulting firm captures customer satisfaction at a fixedtime in the year following purchase (the “NF” measure), whereas an industry-focused, bou-tique consulting firm captures customer satisfaction at three specific points in time (30days, 5 months, 11 months) after purchase (the “BF” measures). We analyze data for theperiod 2002–2004 and have the following findings: first, customers’ satisfaction varies overa homebuyer’s consumption period. Comparing across the three BF measures, we find thaton average a homebuyer is most satisfied 30 days after purchase and least satisfied 11months after purchase. Second, we compare the NF measure with the BF measures and findsignificant differences in their predictive abilities for future financial performance. The BFmeasures are significant leading indicators of future financial performance, as measured byhigher revenues and profits and lower warranty costs, but the NF measure is not. Additionalanalyses indicate that the relatively higher predictive ability of the BF measures is due tothe more precise timing of those measures, rather than differences in measurement con-tent. Finally, we find that the point of diminishing returns to improvements in customersatisfaction varies across customer satisfaction measures obtained at different points inthe consumption period. We conclude that timing has a significant impact on the infor-mation content of customer satisfaction measures, at least for goods and services that areconsumed over extended period of time.