Every business owner wants their brand to stand out from competitors. What is the magic formula that helps people remember your name and mention you to their family and friends? Why do some consumers choose to return to your company over and over?
According to Gartner’s research, around 81% of marketing professionals expect to compete for businesses based mostly on customer experience (CX). For most brands, customer service is at the core of what they do. However, CX takes your policies to the next level and ensures you exceed user expectations.
Changes in the market and technological advances have made CX more crucial than ever before. Here are the reasons your brand should invest more in CX.
Enhance Current Customer Relationships
Most business owners know a current customer is worth more than a new one. You must spend money to cultivate a new lead, and that person may not spend as much as an established client.
Excellent CX encourages your current customers to stick with your brand. They will also tell others, increasing your word-of-mouth marketing without any additional effort from you.
For those who sell products and services, a happy customer is a long-term customer, bringing in revenue month after month for decades. However, just because a customer is happy today doesn’t mean they will be tomorrow. You must stay on top of the customer service game for the long haul.
Improve Inbound and Outbound Calls
One of the biggest frustrations customers face is when they phone your company or receive a call from you. If you’ve ever had to make endless selections to get through a computer system to a real person, you know how aggravating it can be.
About 55% of U.S. shoppers say a single bad experience will make them leave a brand forever. Start by analyzing your current system. Evaluate how long the average call takes, if the customer is happy with the results, and even how long it takes to find a resolution to their problem.
You can also conduct some post-call surveys to see how satisfied clients are. Ask for feedback so you can better train your staff and meet customer needs.
Develop Loyal Customers
It costs more money to attract new customers, but you must keep old clients while seeking fresh ones to see growth. What if every person who ordered from you became a raving fan?
When you create terrific CX, you’re much more likely to gain their loyalty. What type of store are you more likely to go back to? Is it the one that remembers your name and makes sure your order is correct? You probably aren’t going back to a retailer when the cashier throws your bag at you and doesn’t greet you with a smile.
Even though the difference between great CX and okay CX may be minimal, take the extra steps to train your employees to go above and beyond. If you run a funeral home and someone asks where they can break up ice inside bags, offer to do it for them. Develop a servant attitude toward your customers.
Make More Revenue
What is the lifetime value of a customer? Figuring out how much each person spends during the time they do business with your company helps you improve your bottom line. If it costs $500 to recruit a new lead, how much will that person spend over a year, five years or ten years?
In one Harvard Business Review study, researchers found a 5% increase in customer loyalty resulted in an increase in profits of about 80% revenue. Once you understand how much each client is worth, it’s much easier to invest the care into them you should. You’ll know the dollar amount you’re giving up if you let your CX lapse.
If you hire the right people, you’ll find they have a deep desire to keep customers happy. However, if you don’t give them the okay to think outside the box and meet client needs, they’ll quickly grow frustrated.
It’s hard to come up with creative solutions if you’re scared you might get fired. You can give staff parameters as far as spending, but also give them the freedom to work within the parameters however they see fit.
Customers today expect brands to engage and entertain them. The average person is crazy busy. They can choose to spend time on social media, streaming movies, hanging out with family and friends, or visiting your website or place of business. If you don’t grab them and keep them interested, you’ll likely lose them.
The Trends in Customer Trust survey found 95% of consumers list trust as the reason they remain loyal to a brand. They know the company cares about them, offers interesting content and will fulfill promises.
To create an experience customer can rely on isn’t easy. When you put the focus on great CX, though, it’s much more likely you’ll maintain specific standards over time.
Your policies should always consider buyer personas and individual needs. With an eye to what works best for your target audience, you’ll be better able to offer an experience your competitors can’t measure up to. The more research you do and the more you tap into your customers’ pain points, the better you’ll serve them.
Consistent brand experience happens over time and with extreme effort. Train everyone in your company about your policies and core beliefs. Put customers at the center of everything you do, and a great CX will follow.
CX Can Make or Break You
An excellent customer approach can help you have a fabulous reputation in your field. On the flip side, a poor response may result in damaging your name. Take the time to make sure everyone who represents your company has the same outlook. Cultivate a culture of putting the customer first. With time, your brand reputation will excel, and people will remain your customers and refer others to you.
Eleanor Hecks is editor-in-chief at Designerly Magazine. She was the creative director at a digital marketing agency before becoming a full-time freelance designer. Eleanor lives in Philly with her husband and pup, Bear.