Are you meeting customer expectations? We all know the importance of customer service when it comes to running a successful business. In this social media obsessed world we live in today and the age of instant feedback, excellent customer service can go a long way, but an excellent customer experience can go even further!
Until recently, the quality of product and service provided were the keys to winning customers and earning their business. But today, a new factor has come into play and that is providing the best customer experience.
A recent Walker study found that by the end of 2020, customer experience will overtake price and product as the key brand differentiator. Customers will stay loyal based upon the experience and if you can’t keep up, they will move on (bye, bye).
Happy customers remain loyal customers.
Consider these statistics:
- 1 in 3 customers will leave a brand they love after just one bad experience.
- Research by American Express found that 86% of customers are willing to pay more for a better experience.
- 49% of buyers have made impulse purchases after receiving a more personalized customer experience.
- Customers that rate companies with a high customer experience score spend 140% more and remain loyal for up to 6 years.
Customer experience (aka CX) is the biggest opportunity businesses have to reduce customer churn and increase revenues. The problem is, most businesses think of customer experience and customer service as one in the same when in reality, customer service is only part of the many pieces of customer experience.
Simply put, customer service is a single touch point with a brand, while customer experience includes every touchpoint a customer has with a brand from the first time they hear about you until after completing a purchase – basically the perception the customer has of a brand. While you may think your customer experience is one thing, the customer may see it as something completely different and that is what the actual customer experience is.
Managing customer perception should be the top priority for every business and having a strategy for customer experience is the best way to make that happen.
Customer expectations are rising.
The expectation is that every single interaction with a brand be the best that it can be.
Below are several strategies for creating a great customer experience:
- Create a clear customer experience vision that is customer focused and can be communicated within your organization. This statement will act as the guiding principles and drives the behavior of your organization.
- Understand who your customers are and you can get to know their needs and wants.
- Connect emotionally with your customers.
- Collect customer feedback. It’s the only way to know if you are delivering on your promise. Try using live chat tools, conduct a focus group or send an email with a follow-up survey. Hey, even pick up the phone, for instance. In other words, get feedback, share it with the team and fix what is broken.
- Develop your team to the standards of your vision. Using the feedback collected from customers, identify the training needs for each member of your support team.
- Use employee feedback to improve the customer experience. Because, it’s your team who are interacting the most with your customers so give them an opportunity to share their ideas.
- Measure the results of your customer experience investment. There are several metrics available for tracking customer experience over time which include Customer Effort Score, Net Promoter Score, Customer Satisfaction Score and Time to Resolution. These tools allow you to track the success or failure of changes you implement that might affect your customers.
Customer expectations are at an all-time high and word spreads fast! The importance of the customer experience increases because the customer becomes even more empowered. Customer experience is an area that needs constant attention.
Because, a greater focus on customer experience strategy, businesses will see a reduction in customer churn and an increase in revenue growth.
Need help developing your customer experience strategy?