For a long time, calculating and investing in customer experience, in comparison to other important elements like sales & marketing, has been seen as a subtler part of any business. A pragmatic customer experience encourages loyalty, helps businesses retain customers, and encourages brand upholding. Leaders and managers often struggle to help their higher management see the value of CX and get them to invest in improving it. It has, however, been proven over time that delivering great customer experience (CX) is important. A memorable customer experience is vital for the sustained surge of any business as it helps with overall revenue generation and improved ROI.
49% of U.S. consumers say companies provide a good customer experience today.
“Customer experience is how a customer feels about the sum of their interactions with a business,” said Dave Dyson, Sr. Customer Service Evangelist, Zendesk. “It involves every way a customer interacts with a company, at all stages of the customer journey—including the marketing materials they see before they become a customer, the sales experience, the quality of the product or service itself, and the customer service they receive post-purchase.”
Customer experience is entirely focused on the relationship between a business and its customers. It can start with a simple hello and includes every interaction, every step a customer takes, no matter how limited the interaction turns out to be and even if the results don’t include a purchase. Whether it’s a call to a call-centre or an exposure to a marketing advertisement, every small or big exchange between businesses and their customer base builds the relationship.
So, how do we quantify customer experience to determine what we’re doing well and where to improve?
In the year 2020, customers are now empowered like never before, and providing them great experiences can help businesses drive loyalty and revenue in the long run. Ignoring the vitality of improving customer experience at the first instance of difficult times is no longer an option for businesses, as the voice of the customer continues to get louder and louder each coming day.
A pizza company in Boston, Blaze, used Pi Day as inspiration to run a promo that offered a memorable and positive customer experience — they offered discounted pizza pies (get it?) for only $3.14 on Pi Day.
What is the ROI of customer experience?
Calculating the return on investment (ROI) of customer experience initiatives is critical because it facilitates marketing & sales teams to build strategies and make far-reaching business decisions. If done right and at the right time, investment made to improve customer experience by focusing on the right metrics and properly analysing data helps with effective decision making and can bring back a strong return on investments.
At DT, we believe that to build a sustainable relationship with a customer, we must value their feedback. We believe in building a situation based and feedback centric client engagement plan that will not only help businesses to leverage the data collected abundantly, but done correctly can turn into a long-lasting opportunity to keep your customers intact and keep the revenue bar up and running. Your customers can express their opinions through the surveys and provide suggestions about your CS team, product onboarding, and more throughout their customer journey. By doing this, you are better able to retain your current customers, identify key Customer experience, and revenue.
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