In a recent blog, we spoke about our top tips to improve your brand’s Customer Experience (CX), now we are going to examine the benefits of a top-class Customer Experience. Top-class CXs are planned, reviewed and continuously improved. Brands who place an emphasis on their CX get to reap the rewards of their excellence. To be exact, Forbes has said 73% of companies with above-average customer experience perform better financially than their competitors. While it is not always easy to measure the true value of CX we have put together are some of the many benefits associated with it.
The benefits of a top-class Customer Experience (CX) –
Increases customer loyalty & retention – Retaining customers is just as important as gaining customers, taking into consideration the Pareto Principle whereby 80% of a brands sales come from only 20% of their customers. There are many reasons that customers choose to be brand loyal including price, finding a product or service that fits their needs and quality. In more competitive markets CX further drives brand loyalty. Creating a seamless online experience and in store experience makes customers less likely to be lured by competitor brands. Many brands place an emphasis on building relationships with customers through great service and experience. In turn this loyalty offers cross-selling opportunities where customers will be more confident to try a new product/service by their beloved brand(s) which overall contributes to a higher customer lifetime value (CLV).
Enhances your brand’s reputation – Organisations that place an emphasis on CX greatly enhance their brand’s reputation. In the predominantly online world that we live in, customers leave reviews and share opinions with their peers. Over the last number of years, consumers have begun to share positive experiences rather than just bad ones. That is to say that customers who have a fantastic experience are more likely to share it than those who receive an average or mediocre experience.
Boosts sales by attracting new customers – Providing a top CX plays a huge role in attracting new customers. The modern-day consumer is savvy and carries out independent research rather than depending on a salesperson to gather information before making a purchase decision. During this research, customers seek out reviews, customer support accessibility and develop an overall perception of a brand. According to Speigel about 95% of customers read reviews before making a purchase decision. Those brands that portray an image of experience excellence are more likely to gain a new customer over those that choose to ignore it.
Reduces the number of complaints received – If your CX is seamless you will greatly reduce the number of complaints you have to deal with. Delving into things like customer support accessibility allows brands to be more proactive than reactive by strengthening their online experience. Customers can reach out for support to solve a problem or issue rather than airing a grievance. Of course, this in turn reduces the amount of time your support team needs to manage such transactions.
While a brand’s CX has to be continuously reviewed and improved it is something that pays off in the long term. Brands such as Apple, Amazon and Zappos continue to pave the way through their emphasis on personalisation, loyalty and customer-centric cultures to create an overall top-class CX.
At Arema Connect we work with our clients to help to support their CX through our many Customer Support Functions. Our ethos is to make the customers journey as enjoyable as possible while building long term relationships with our clients. Through a partnership approach, we provide tailored solutions to meet each brand’s needs, highlight common pain points experienced by customers from our frontline agent feedback and offer recommendations on CX improvements for each of our clients. If you are interested in finding out the different ways we can support your CX visit HERE