In 2020, businesses can no longer afford to neglect the value of customer experience. With nearly 90 percent of consumers switching brands due to bad customer experiences, few potential cash drains pose as big a threat as faulty CX does.
While companies continue to build and refine their CX models, crucial components of the way customers interact with businesses continue to go ignored. Businesses are now competing with one another’s CX more than ever before, so finding new angles for engaging and rewarding customers is an absolute must.
While there’s no secret formula for knockout CX, it can be helpful to think about it from different perspectives. To give your business’s customer experience the boost it needs, make sure not to neglect:
Pricing may sound totally unrelated to customer experience, but they’re far more intertwined than you might think. While up to 86 percent of customers are willing to pay more for a better customer experience, only 1 percent feel their CX expectations are consistently met. What does this mean for your business? It means that if your investment in CX is reflected in higher prices, your customers will expect a lot more than they might otherwise.
The key is to balance customer experience and pricing so your customers feel they’re getting exactly what they paid for — and maybe more. Potential customers will look far more favorably on your CX setup if they feel they’re getting a bargain, so look for options to help drive your prices down. Group purchasing organizations or different distributor networks might help, but it’s up to you to determine how to best balance your pricing model with your CX tailoring.
2. Employee Satisfaction
The link between customer experience and employee satisfaction may initially be a surprising one, but a closer look at how employees shape and guide the customer experience shows how closely related the two really are.
Only 31.5 percent of employees feel fully engaged in their work, and that statistic leads to major problems. Customers respond to dynamic, engaging CX systems that promote personal interaction — systems that can only get implemented and operated by employees who are deeply satisfied with the work they do.
Treating your customers right starts with treating your employees right. Ask your workers on the frontlines of customer interaction what they need to make their jobs better and easier. Their requests are the most valuable information you have in the quest to upgrade your CX. By giving your employees exactly what they need to succeed, you can ensure your customer experience is operating as well as possible.
3. Word of Mouth
Your customers’ experiences with your company begin long before they ever interact with you or your products. Word of mouth is one of the most powerful marketing tools out there, both good and bad, and it has an exceptional impact on how customers experience your business.
Dissatisfied customers tell between nine and 15 people about their negative experiences, but happy customers only tell between four and six people about their positive ones. The downside of poor CX can pose a serious threat to how people view your business, so it’s important to keep in mind exactly what customers will be taking away from any given interaction. While you should keep customer needs top of mind, be sure to emphasize and incentivize the sharing of positive experiences.
Offering rewards or other potential bonuses for customers who are open about their positive experiences can greatly increase the efficacy of your CX down the line. If new customers approach your business with a positive mindset, the odds that their overall interaction will be a positive one are much higher than if their opinion was negative from the onset.
4. Emotional Connection
What does the perfect customer experience sound like to you — quick, efficient, problem-free, and impersonal? While that may sound like a dream to some, research published in Harvard Business Review showed that emotional connection pays off far more in the long run than brief, problem-focused interactions.
If you want your customers to feel genuinely involved in your business, you need to find a way to reach them emotionally. If customers feel personally attended to and are shown that their needs have a stake in the overall success of your company, they’re far more likely to buy more — and more often. Don’t be afraid to dig deeper in your quest for customer engagement; the payoffs can be huge.
The right CX may look different for every business in every sector, but taking care of people on a human level is always a recipe for success. By focusing on what matters most, you can get your CX just where it needs to be — and your company’s reputation will follow suit.