Every business has the opportunity to put their company at the top through various avenues. Whether it is marketing or social media, there is one opportunity that consistently comes out on top - customer experience, (or CX).
This comes to no surprise when companies who implement a successful customer experience will reach a higher customer satisfaction and increased revenues. American Express conducted research to find that 60% of customers are willing to pay more for a better customer experience.
The definition of Customer Experience (CX) is defined as interactions between a business and customer throughout their business relationship. This can include anything from purchases and services to awareness and advocacy.
When a customer has a positive experience, they are more likely to become a repeat and loyal customer and this experience is a vital part of Customer Relationship Management (CRM). If you want your customers to remain loyal, you have to invest in their experience. The bottom line is happy and satisfied customers remain loyal.
How does Customer Experience differ from Customer Service?
When you compare an experience to a service, the customer service is only one piece of the experience. For example, if you were to make a restaurant reservation for a special occasion and the person helping you is friendly and helpful, that is good customer service.
When you arrive at the restaurant and they give you a table with a view and prepares the table with a complimentary bottle of champagne to help you celebrate, that is a good customer experience.
Here are seven ways to help your strategy in creating a great customer experience to increase revenue and reduce churn:
1. Creating a clear vision
Customer focused vision is the first step in your customer experience strategy. Creating statements that will act as your guiding principles is an easy way to define your vision. Once your vision and principles are in place, this will help drive your organization. Additionally, every team member of your business should know these principles and be included in your training materials.
2. Understand your customers
There are many different customers your customer support teams encounter on a daily basis and your business needs to understand who are connecting with. Understanding and recognizing different personas of who your customer support team deals with, will allow them to empathize and help their needs better.
3. Emotional connection
Being able to connect emotionally with your customers achieves a good customer experience. The Journal of Consumer Research found 50% of an experience is based on an emotion. How you say something can drive the end result decision that is attached to something the customer may be emotionally attached to when selling a product. If you are emotionally engaged, customers are three-times more likely to re-purchase that product or service.
4. Capture customer feedback
You want to deliver an excellent customer experience, but how do you know you are doing just that? Capture the customer’s feedback in real time. This can be done with post-interaction surveys or automated tools through email and calls. You can take this a step further and have your customer support team gain a more insightful feedback with outbound calls to the customers. Being able to connect the customer feedback to the customer support agent allows the team member see the difference they are making to your business.
5. Framework for development of your team
Using the defined customer experience principles you have identified, take this time to assess your customer support teams’ individual needs in training. Continued developmental training will give your quality framework a stronger foundation in providing a great customer experience.
6. Employee feedback
Capture your employee’s feedback of your team. Being able to see how engaged they are to deliver an outstanding service will allow you to share ideas and use tools with your management team. You can use a variety of different tools to gain a snapshot of your team such as management software or social media tools.
7. Measure ROI on a great customer experience
Now that you have invested into your teams and business, how do you know if it is paying off? The answer is your business results. You may think you are delivering a great customer experience, but measuring that is challenging. Many companies use what is called “Net Promoter Score” or NPS to collect valuable information just by asking one simple question. “Would you recommend this company to a friend or relative?” NPS was created by Rob Markey and Fred Reicheld at Bain and Company, and it has proved to be a good benchmark tool for a customer experience metric. Many companies use this as the standard customer experience measurement.
In conclusion, word of mouth travels fast when a customer shares his/her experience of a company with their friends and family. This makes for customer expectations of your business higher than ever. This area of customer experience is an area of constant nurturing with a greater focus on the customer experience strategy. Companies will soon realize the positive impact this makes on customer loyalty and increased revenues.
This is where we come in. With our customized business-building workshops and creative strategic plans, we help you stand out, turn your customers into loyal fans, and make more money. Use this form If you would like to schedule a time to speak with Carrie on how she can increase your bottom-line by redefining your visibility and up-leveling the value-added Customer Experience you provide.
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