“Why Customer Experience Is More Important Than Advertising?”
Strategic value of customer relationships. Customer experience is defined as your customer’s perceptions, conscious and subconscious of their relationship resulting from all their interactions with your brand during the customer life cycle.
Customer experience really matters and is without doubt a key differentiation for businesses, so how can good customer experience put your business on top.
Getting depth of knowledge about your customers isn’t something that just happens.
Customer experience knowledge comes from insights from all customer touch points and channels across your entire business.
It’s about harnessing customer data from online and offline, includes traditional brick and mortar channels and understanding this valuable data with speed and precision.
Your best opportunities for business growth may not exist in developing new products or services. They may instead be found selling more to your existing customers and finding new customers with a similar buyer lifecycle, you’d be silly to ignore it…
Tired of your customers shopping around?
Customer experience may sound idealistic or touchy-feely, yet you don’t want to ignore it here’s why…
There’s tangible business value in managing the customer experience effectively. Good customer experience management can:
- Strengthen brand preference via differentiated experiences
- Increase sales and revenues from existing customers
- Boost new sales from word of mouth
- Improve customer loyalty (advocates) via valued customer interactions
- Lower advertising and marketing costs by reducing customer churn
Only 4% of customers trust advertising the most for product and service information, so can good customer experience help to seal the deal with your customers?
Recently businesses surpassed $200 Billion dollars a year in advertising spending.
Yet, fewer and fewer customers are trusting advertising as the source of information for products and services.
Word of mouth carries a big, heavy stick when it comes to the reputation of your business products and services.
Social media platforms like Facebook, Twitter, Yelp, and other reviews sites help to amplify to voice of the customer.
The power of a single bad customer experience can have at creating future business opportunities…it’s so critical for you to focus on investing in better customer service.
Why would you invest in a better customer service experience?
The practice of designing and reacting to customer interactions to meet or exceed customer expectations and increase customer satisfaction, loyalty and advocacy…
The Internet has segmented and amplified the ability for news to travel and instant speed, especially bad news.
Do you focus on leveraging more effective tools to help you stay on top of your customer experience by ensuring your customers are getting good customer service from your staff?
What’s the importance of customer experience and the impact it has on getting new customers and keeping your existing customers happy?
Why Customer Experience Matters
Remember your customers have more presence, power and choice than ever before.
If you decide not to provide a personal, relevant, timely customer experience, you can turn away customers immediately. It’s your choice to alienate or drive your brand loyalty…
Customer experience is all about knowing your customers so completely you can create and deliver personalised experiences which empower customers to not only remain loyal.
Tip: You want customers to become your advocates, and that’s the most valuable form of advertising there is…
40% of customers began shopping with a competitor, because they heard about the company’s good customer service.
Reputation for great customer service creates incentives for customers to give you a go.
Good experience grabs customers and your great customer service can be a vehicle for generating sales and helping the bottom line.
Tip: The key is keeping those customers once they’ve given your company a shot…
Are you listening to your customers?
When bad experiences happen, you have an opportunity to make things right.
Some of your most loyal customers have seen you show that your customers really matter.
There’s a troubling trend with customers today in that many feel like companies don’t care enough to make things right, so fewer customers are trusting companies to resolve issues.
Customers with problems are taking to their social networks to vent their anger:
- A full 85% of customers who had a bad customer service experience want to warn others about doing business with the company
- 66% of customers wanted to discourage others from doing business with the company
- 55% of customers wanted to vent their anger
- Yet only 24% of customers actually tried to contact the company to get the issue resolved
Right Message, Right Place, Right Time
To deliver the most value at each customer touch point and improve customer experience you want a road map which means using analytics to understand specific stages in the customer life cycle so you can deliver right message to right place at right time…
Each buyer lifecycle stage is important from initial consideration to active evaluation to the moment of purchase and even to post-purchase experience.
Each stage is an opportunity to improve your customer experience.
Each stage is an opportunity to optimise and get more insight you can feedback into your marketing funnel which you can continue to leverage for improving processes next time.
You might have the data and technology to track your best customers, so how can you meaningfully differentiate between them and the rest?
How do you align your marketing strategy and operations around them? And how do you create and sustain competitive advantages from all these processes with best practices?
Customer’s don’t know the real reason that drives their behaviour, so how do you plan on leveraging customer experience in your continued business growth today?