Five Reasons You Can’t Ignore Customer Experience
As more businesses begin to realize and come to terms with the fact that the customer’s experience is the next competitive battleground, It has become very necessary that companies begin to evaluate and make improvements to the quality of their customer’s experience.
With competition multiplying across niches & segments in the business world, the customer has become empowered by the virtue of having many options to choose from. Businesses now have to go the extra the mile to ensure that the customer picks them over the competition, time-and-time again. Thus the “customer era” is born – an age where the focus is on customers and their needs.
There are good reasons why smart companies are investing heavily in creating and controlling the experience they want customers to associate with their brand & also set themselves apart from the competition.
Here are 5 reasons why you should ensure your customers’ experience is a positive
#1. Enhanced Customer Satisfaction
When organizations start paying attention to the customer’s experience as they navigate through and interact with various touch points of their business – They get clearer insights on areas, where improvements can be made to boost the quality of the service.
It could be simplifying an ambiguous process, personalizing a message or even anticipating a perceived ‘low point’ in the course of the journey, and managing it effectively. The result will be improved customer experience and better customer satisfaction ratings. Satisfied customers are most likely to come back for repeat business.
#2. Reduced Churn
With customers who are now better satisfied, attrition rates drop and competition has to work harder to win customers from such a business. It is a well-known fact that people like to spend their money in places where they feel good doing so, positive experiences will have customers coming back for more.
According to the 2011 Customer Experience Impact report; 86 percent of consumers will pay more for a better customer experience. This affirms the fact that the customers’ experience has become an important factor that drives…
#3. Profitability
Loyal customers do not just patronize a business consistently, they also refer their friends, colleagues and neighbors, in the process of telling them how much better, easier, or faster their experience has been – These translate to more patronage, sales and an expanding profit margin.
#4. Greater Employee Satisfaction
It is the dream of every employee to have a profitable employer with satisfied & positive customers. Satisfied customers are happy customers, and happy customers mean happy employees. The relationship between customers & employees are very closely linked, what affects one invariable affects the other – when customers are satisfied, complaints and exchange of negative emotions with employees reduce drastically, this makes the employees more productive as they channel their energy and resources into other productive tasks.
Fair compensation is one of the basics of employee satisfaction and a profitable employer usually means better paid staff (unlike their peers in competing companies). Satisfied/happy employees will be more engaged and committed to organizational goals and this leads to…
#5. Increased Productivity
High levels of employee engagement in an organization means – it’s employees are happy and committed to putting in considerable effort in ensuring the business achieves it’s goals. The employees in such a setting are willing to go the extra mile on their own accord, multiply that across the number of employees who have similar mindset, and you can have a mental picture of the overall productivity levels in such an organization. Satisfied customers = Satisfied employees = productivity (Read more: Employee engagement & customer satisfaction).
In today’s competitive market – price, suave ads and promos don’t just cut it anymore. Customers want to spend their money at places where they are treated well – places where they feel good doing it. The customer’s experience is the new marketing tool, and indications show that this trend is only going to become stronger. Organizations who have invested in creating positive customer experiences are enjoying its rewards and you cannot afford to ignore it.
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