Customer experience is how customers perceive their interaction(s) with your company, from first engagement, and all the way through the customer journey.
This perception the consumer develops of your brand impacts aspects of your business such as customer retention, customer acquisition, sales, and conversion ratios.
Developing a successful customer experience strategy is one of the best things you can do for your business. Especially, with online consumer traffic up 6 billion from January 2020 due to COVID-19 procedures. An opportunity that allows you to capitalize on increased traffic by retaining more loyal customers that will help your business grow.
Throughout this article you will learn:
How customer experience drives brand loyalty
The tangible results you will derive from a successful customer experience strategy
How delivering a unique customer experience can boost your business
How to effectively measure customer experience in ways that benefit your business
Great experiences are tangible: up to a 16% price premium on products and services, plus increased loyalty.
Customer Experience Drives Brand Loyalty
The days of brands buying customer loyalty through incentive programs are slowly coming to an end. Customers value highly personalized communications and timely responses. With 91% of consumers more likely to shop with brands who recognize, remember, and provide them with personalized experiences.
Customer loyalty has become a natural by-product of customer experience practices.
Amazon is one of today's best examples of how a business has managed to generate huge amounts of customer loyalty through its customer experience. By creating a simple purchasing experience the e-commerce titan has retained a massive customer base.
Similarly, Uber has benefitted greatly from implementing a successful customer experience strategy centred around simplicity. Taking advantage of both traditional taxi and black car services, Uber combined the two into an easy and engaging customer experience through a mobile smartphone app. Generating a huge customer base that is inclined to use their app which serves the customer a great experience.
Simply put, happy customers remain loyal.
How Delivering a Unique Customer Experience Can Boost Your Business
A unique customer experience is one that builds a relationship between you and your customer. This can be done in numerous ways, such as:
Building an emotional connection with your customer
Getting realtime feedback and acting on it and;
Focusing furiously on individual customer needs
Inputting into place practices such as the above stated, you develop a unique experience for your customer. One, in which, the customer feels appreciated and derives value from it.
Customer experience is set to be the number one brand differentiator in 2020.
It is important to make a strong effort to retain a customer on the first impression. Acquiring new customers costs 7 times more than retaining an existing one. To help leave a lasting impression for your customers, Call Center Guys has created a solution that can greatly benefit the way your business delivers on customer experience.
49% of buyers have made impulse purchases after receiving a more personalized customer experience.
Utilizing marketing technology and sales tools, you can capitalize on personalized customer follow-ups. Creating emails that directly address the customer and their interests.
How To Effectively Measure Customer Experience In Ways That Benefit Your Business
Analyze customer satisfaction survey results
Using customer satisfaction surveys gives you first-hand insight into your customer's journey, allowing you to see areas that you are excelling in and areas you can improve in. All the while, showing customers you care about their experience and want to improve upon it.
Identify the rate and reasons for customer churn
Churn happens - it is a part of doing business. Defined as the rate at which customers stop doing business with an entity. It is important to pay close attention to your churn rate and monitor if it is increasing or decreasing. Collect information specific to why your customers are leaving and work to fix those reasons. This will significantly increase customer retention.
Ask customers for product or feature requests
A simple form can collect for your business loads of data on common customer requests. Allowing you to tailor the customer experience more towards what they desire as a consumer.
A good form should ask questions about your existing products or features and ask for suggestions on how they can be improved upon. Further, it should ask about the experience involved in purchasing the product. How was the checkout process? Was it easy to find what you were looking for? Did you need support? Hubspot has many great form tools that will allow you to create forms specific to your business and brand.
Analyze customer support ticket trends
Do not neglect to collect customer support ticket data. If you see reoccurring trends on issues related to your business you can fix these issues before more customers have to experience them. Furthermore, allowing you to create efficient live chatting options and provide your customer support team with data on common customer issues and how to deal with them.
Ultimately, creating a better brand experience for your customers, one that is uniquely seamless and pleasant, differentiating yourself from competitors.
In Summary, Customer Experience Creates a Powerful Differentiation For Your Business
In order for a business to differentiate itself from competitors, it needs to be making efforts on every front of operations. Starting with customer experience, it is important to deliver a unique experience that leaves the customer with a lasting impression. A lasting impression that is different from competitors and increases the likelihood of that customer returning to your business again and again. A reoccurring customer gives you a huge opportunity to turn them into a loyal customer. Which, as discussed above, has numerous benefits for your business.
Once a successful strategy has been established, it is important to consistently build and look to improve upon it. Using methods of measuring customer experience, you can do just this with the data collected. The constant process of refining your customer experience strategy will greatly benefit your business's growth for years to come in the building of higher retention ratios and a more satisfied customer base.