What is customer experience and why is it so important?
If I were to ask you what the most exciting business opportunity is in 2018, what would your answer be?
According to a survey conducted by Econsultancy, many B2B and B2C marketers would answer the customer experience (CX). So what is customer experience and why did it beat out content marketing, mobile and personalisation to be the most exciting opportunity for businesses in 2018?
‘Customer experience’ is a customer’s perception of how they are treated by a business. It relates to how a customer feels about their engagement with a brand and how they perceive their relationship with it.
So why is customer experience so important?
In the digital age, we now have access to almost anything at the touch of our fingertips, so customer expectations are understandably on the rise. This makes the customer experience more important than ever before for brands. By 2020, it is predicted that 86 percent of buyers will be willing to pay more for a positive customer experience.
Brands can no longer afford to ignore the power of managing a positive customer experience. A great customer experience is a vital factor in getting the edge on competition and will keep customers coming back. In fact, 62 percent of companies consider the customer experience to be a competitive differentiator.
So how can brands optimise the customer experience to improve customer loyalty and get an edge on the competition?
Understand the customer journey through and through
To understand your customer journey you must have a strong handle on your data across all sectors of the business. Know who your customers are and learn about their behaviours when engaging with your brand. Figure out where and when your target audience is exiting the sales cycle, and most importantly find out why. This will help inform the changes you make to improve your product and processes and ultimately optimise the customer experience.
Work in harmony with all sectors of the business
Different business sectors are often siloed. Working independently from one another can help drive efficiencies and streamline company processes. But working in this way provides no benefit for the customer experience. In order to deliver a great customer experience, operations, marketing, sales and production all need to be working closely together. With all sectors of the business working closely together, there is a more comprehensive understanding of the customer journey across the board. Nothing falls between the cracks and your product or service can be delivered to your customer with more precision and assurance.
Prioritise customer service
One of the underlying factors of creating a positive customer experience is a company’s ability to provide support for customers when and if needed. Customer service plays a vital role in how a customer perceives a business. Poor customer service will leave customers frustrated and cause them to disengage from your brand, but outstanding and consistent customer service can keep customers happy and strengthen their loyalty with your brand.
Ask your customers for feedback
One of the biggest challenges for companies which want to improve the customer experience is knowing when there is a problem. Dissatisfied customers don’t always share their experience with the company they’re dealing with. They may, however, tell their friends. 13 percent of dissatisfied customers will tell more than 15 people that they are unhappy with a brand, while 72 percent of happy customers will share their positive experience with 6 or more people. Don’t be afraid to ask your customers directly how their experience is when engaging with your brand. Their feedback can help you to refine areas of your business to improve the overall customer experience.
If you would like to learn more about how your brand can improve the experience your customers have when engaging with your brand, speak to an expert at Green Door Co today.