Customer Experience Management (XM) for Retailers

November 18, 2020 at 6:30 PM
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There are no predefined rules when it comes to serving your customers with exceptional customer service that lasts long enough to form a strong bond and impression on them. Attracting and successfully offering customers what they need by understanding their requirements, takes a lot of effort on different levels. A successful brand understands and comprehends their customers’ expectations, they don’t just sell products but also provide world-class services. All the brands that we hear about topping the charts, market-wise, follow one best practice among others are that they treat customer feedback with sheer respect and work hard on it. We are living in a world that is constantly changing. With new innovations, digitalization, and with all the rapid changes happening around, it’s imperative for retailers to understand how their customers feel about their products or services. It is of paramount importance to know the expectations of your customers and deliver a smooth customer experience. In a study published by Gartner, they defined it as “The practice of designing and reacting to customer interactions to meet or exceed customer expectations and, thus, increase customer satisfaction, loyalty, and advocacy.”

Customer experience management is not just about selling your products or services to your customers, it is about understanding their shopping habits, their needs, where they usually like to go in order to buy everyday essentials, and what brands they prefer. This process is simple yet complexed to know your customers in a way that it helps you to build, modify and deliver personalized experiences that can keep them engaged and can drive their loyalty, while also promoting your brand in front of others – After All, “word of mouth” marketing is the most valuable form of advertising that you can ever achieve by delivering what your customer desires.

It is true there are many challenges a retailer has to face while conducting their day to day business, it’s not easy to manage all and everything in one go, however, these challenges if treated with the right mindset can in return give them huge profits and help them maintain their brand image. Capturing live feedback using different technologies and different platforms, can possibly turn up to be a huge advantage in the retail business.

A Customer Experience Management platform like Dropthought provides retailers with the flexibility they want to build or create a customer survey, loaded with cutting edge technology, innovative methods to process the data collected through surveys, metrics benchmarking, text analytics, and much more. Dropthought is revolutionizing the way we treat customer feedback. There are multiple ways for retailers to capture feedback from their customers based on their experience and utilize the data collected to its full capacity, some are mentioned below:

1. Optimizing the use of Exit Survey: Many retailers use Kiosk, transactional, and post-purchase email/text surveys, to gather data based on overall customer experience. Focusing on gathering productive feedback, they ask a simple NPS question in their survey “Would you recommend us to your friends?”, to tally the insights collected for further improving their services. This helps them in understanding the issues faced by a customer while shopping and to traverse the service gaps. If we look at NPS Benchmarks, Apple’s NPS score in 2017 was 72, dropping to 65 in 2020, still keeping Apple ahead of the next highest NPS which is perforce surpassing the average NPS score of the consumer electronics industry.

2. Keeping it simple and subtle, retailers must put up a feedback option on their online shopping platform so that the customers can easily access it by clicking on the tab to provide insights based on their shopping experience. It’s the most efficient way to understand what drives the crowd to your website and what’s not working for you. For example, Walmart, one of the top retail brands that have witnessed the benefit of using customer feedback to make improvements in their stores and on their online shopping platform, they made the right decision to invest in a lucrative approach for collecting and implementing customer feedback which is helping Walmart to get a better response from their customers and is also helping them to make all the difference in their long-term financial goals.

3. Digital presence is vital these days and making sure that you are doing it right when it comes to attracting new customers, it’s imperative to know how they feel about visiting your website for the first time, how was their experience and will they come back? Adding a feedback tab on your website, including NPS metric in your feedback surveys and most importantly optimally utilizing any opportunity to connect with your customers to understand their needs and habits, might help you improve customer experience, retain loyal customers, and work on what didn’t work out. These are some golden insights that you can use for your business growth and further to improve brand value.

Capturing feedback has helped many brands create a product that fits their customers’ expectations and fulfill all their needs. Regular email surveys, exit surveys, website surveys, etc., have enabled retailers to retain their loyal customers and a chain of referrals to grow their businesses. With the world growing into digital verse day by day, it is only a smart move to accept and act on the changes. 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 also if done right this can turn into a long-lasting opportunity to keep your customers intact and keep the revenue bar up and running.

If you are interested simply schedule a demo to learn more.

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