Customer Experience has become the prevailing trend across all industries. While innovation and competitive pricing dominated the 2000s and 2010s respectively, providing exceptional customer experience is now the key focus for this decade. The days of relying solely on quirky brand advertisements and competitive pricing to attract customers’ attention are gone. Presently, customers demand outstanding experience that sets a brand apart from its competitors. According to a Gartner survey, two-thirds of marketers agree that companies primarily compete based on their customer experience offerings. So, while customers seek unique customer experience and brands are focusing extensively on providing impeccable customer experience, are you and your company also seeking solutions to improve customer experience? We will help you find answers to the question, so read this blog till the end to get insights about customer experience solutions that will not only make you a favorite of your customers but also drastically improve your revenue and profits. Before delving into the strategies for providing an outstanding customer experience, it's essential for every marketer to be aware of certain facts concerning customer experience and how CX can improve the revenue of the company.
In simple terms, customer service is part of the customer experience. When a customer first interacts with the brand, the brand has the opportunity to provide exceptional customer service. But when the interaction goes on over a journey, the focus shifts to the overall experience and this is where customer experience takes over services. For example, if you visit a store to purchase a TV and the executive assists you, it can be termed good customer service. However, when you receive the TV, have it delivered, and installed all on the same day, that elevates to excellent customer experience.
When everyone around you is fixated on one thing, it is fair to question the hype. The same is happening with customer experience. The identical situation is occurring with customer experience. Therefore, we will present the facts and explain the reasons why dedicating your time and effort to enhancing customer experience is essential and how it can positively impact your brand. Research conducted by American Express concluded that 86% of the customers are willing to pay more to get a better customer experience. Companies who invest in CX experience better customer satisfaction rates, low churn rates, and increased revenue. A study conducted by the Temkin Group found that companies that earn $1 billion annually can expect to earn, on average, an additional $700 million within 3 years of investing in customer experience.
Additionally, customers are willing to pay a price premium of up to 13% (and as high as 18%) for luxury and indulgence services, simply by receiving a great customer experience. 49% of buyers have made impulse purchases after receiving a more personalized customer experience. Customers who rate companies with a high customer experience score (i.e., 10/10) spend 140% more and remain loyal for up to 6 years.
With an abundance of data, we can demonstrate how CX not only distinguishes your brand but also propels you to become a market leader. Now that you're prepared to dedicate your time and effort to providing an exceptional customer experience, let's explore the ways you can achieve just that.
To deliver an exceptional customer experience, it is crucial to have an understanding of your product. As a customer support executive, you will be responsible for resolving customer queries throughout the day. Having an in-depth knowledge of the product will greatly enhance your ability to deliver flawless customer service. Furthermore, being well-versed in the product will enable you to effectively communicate to customers how your offerings can significantly improve their lives. Make it your goal to understand the product to the best of your knowledge.
When you are providing a product to customers over an extended period, brands and businesses need to map the customer journey have a better understanding of the process the customers must go through to accomplish the goal. This would allow you to also get a hold of major pain points, which are a result of bad design/organization, and how can the businesses reverse-engineer from there to improve those points.
Over 80% of your customers would churn in the case of a bad customer experience. This is enough incentive for you and your brand to make problem-solving a core part of your brand principle and believe us there will always be problems to solve. There is no way you would be able to provide a product with zero complaints. So, your brand should be equally focused on solving the problems. Modern-day brands thrive on solving the complaints of their customers and if you do a good job, chances are you are going to get good reception for that.
In a market where your product is aimed at a diverse target group, there will always be problems and complaints about your product. You are bound to receive negative feedback and there is nothing you can do to avoid that, except deal with them. The initial step towards ensuring an exceptional customer experience is to maintain a positive attitude. By adopting a positive mindset, you can effectively transform negative feedback into a positive customer experience. For further insights on handling negative feedback, you can explore the details in this blog.
To ensure a superior customer experience, it's crucial to personalize the interactions with your customers. Approximately 40% of customers express a desire for improved human service, indicating a preference for genuine conversations rather than being treated as mere ticket numbers in a system. Creating a human connection with your customers is essential. Modern brands, for instance, offer special birthday offers to their customers and address them by their names in communication, such as emails. Making every interaction personalized and compassionate can significantly enhance the overall customer experience. Zomato, as an example, stands out by infusing their customer interactions with quirky elements, setting themselves apart from others. Embracing such an individualized approach contributes to delivering exceptional customer experiences.
Quick response is an integral part of your customer experience. A good customer experience means the customers are getting a quick response from brands. Speed should be of the essence, especially in the case of small queries. That being said, good customer service beats quick response. There are other factors that you need to consider such as there is a difference in being quick to respond and quick to resolve. Customers don’t only want a quick response and then be a ticket number that never gets resolved. Rather focus on a hybrid model where you are not only quick to respond but also quick to resolve.
The best thing you can do for your customers is to make them self-reliant. Customers don’t always want to talk to another person every time they face a small issue. Among consumers, 81% attempt to take care of matters themselves before reaching out to a live representative. Further research shows that 71% want the ability to solve most customer service issues on their own. Your brand should focus on making the customer self-reliant by providing them with self-help documents and materials that allow them to fix the problems at their end.
Show your customers you hear them when they take the time to speak to you. Listening increases the chances that you’ll hear your customers’ real problems and can effectively solve them, resulting in happier customers. Analyze the data you already have about customer complaints to figure out the pain points in the customer journey. Listen to what they have to say without pushing your own agenda. Don’t assume that you know what your customer is going to say. Use common phrases to comfort your customer when they are voicing their opinion. Terms like “It sounds like….” Or “Did you mean…..”. Repeat the problem to the customers to make sure you and customers are on the same page. Customer service is not one-size-fits-all. So, make sure you understand your customer and their complaints in the present moment and provide a solution that is specific to their problems.
With aggressive marketing, customers have stopped trusting brands when the brands say they can offer “XYZ” to their customers. Because of false branding and messages, customers are losing trust in the brands they do business with. Make sure your brand and the customer support team are honest in their words. For example, if you promise 48 hours (about 2 days) for a resolution, make sure you stick to the deadline and deliver when promised. Interestingly, customers do not feel extra grateful when you deliver more than you promised. They do, however, feel angry if you break a promise. It’s still better to under-promise.
If you are planning to provide an impeccable customer experience, it is important for brands to also empower their employees. Employees are your first line of defense against angry customers and these employees are feedback goldmine. Also, your CX is only as good as your employees. To provide an impeccable CX, you need to have motivated employees who are excited every day about providing an amazing experience. This means brands need to have an active employee experience program to ensure that the employees are properly heard and provided solutions to their problems.
Each customer interaction shapes your company's image in the minds of your clients. Consequently, it becomes important to establish a positive customer experience for various reasons, including fostering customer loyalty, improving customer retention, and reducing churn rates. Prioritizing customer experience is essential for constructing a lasting and thriving business model. Survey2Connect offers a comprehensive customer experience platform that allows you to gather your customers' feedback and effectively manage it to enhance your overall customer experience. Ready to experience exceptional customer service? Get in touch with Survey2Connect and start your journey towards outstanding CX today!
