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Learn what, why, and how of customer experience and how it influences the growth of your business in this detailed guide.
Businesses and organizations, both public and private across verticals and geographies are investing in Customer Experience (CX) with a laser-like focus. Why is that?
Let me help you understand this with a scenario. Imagine this- You walk into a wellness store looking for a nice body wash but find it confusing to pick the right one. You shuffle through the racks, read the packaging carefully, and yet are unable to find the right product. Failing to find the right product, you exit the store without making a purchase.
Then you go to the other store where you get assisted by the sales staff in finding the right person. You find what you were looking for and then go on to praise the store to your friends, earning it more customers. On the other hand, you build up a negative image of the previous store you visited and decide to never visit it again.
The answer is simple: Competition.
If you don’t provide a good experience that your customers want, you’ll lose them to your competitors.
To craft a holistic CX for your brand, you need to take several aspects into account – mapping customer journeys, identifying the right CX metrics for your needs, and even employee experience.
We’ve compiled a guide to help you create the best CX possible.
But before we get into the nitty-gritty of it, let’s understand what customer experience is.
Conducting exploratory research seems tricky but an effective guide can help.
Customer experience is the impression your customers have of your brand as a whole throughout all aspects of the buyer’s journey. It results in their view of your brand and impacts factors related to your bottom line including revenue.
Virtually every market is saturated with offerings vying for their slice of the pie.
Customer Experience takes into account the emotional aspect of a customer’s relationship with a brand, and a positive one can be a huge differentiator between your offerings versus the competition.
Apple, Amazon, and Uber’s customer experience are held in high regard and give their customers more to praise than just their primary product or service.
The two primary touchpoints that create the customer experience are people and products.
Are you blown away by the performance of the product? Are you delighted by the attention a customer support rep gives you to help solve your problem? These are some general examples of what factors are at play when creating a great customer experience.
Ensuring your customers have a positive experience with your brand has multiple benefits, not all of which are immediately apparent.
Simply put, creating a memorable experience for customers throughout their customer journeys is what’s going to help you increase their lifetime value.
In essence, these are every interaction potential customers have with your brand at different touchpoints. These could be online, offline, before or after the sale, and even the sales process itself. It’s not a niche concept – For example, the apple customer experience relies heavily on ensuring a positive customer journey throughout.
If you want your brand to constantly reside in your customer’s minds, then tracking customer journeys effectively can help you do that, even before they’ve decided to make a purchase.
Customer Need (Customer identifies a need)
Brand Awareness & Engagement (Customer hears about your brand through online, TV and radio advertisements, through word of mouth, or by researching and interacting with your online presence)
Evaluation of your offerings (Customers go through your portfolio and evaluate them as per their requirements)
Purchase (After consideration, customers decide to make the transaction)
Post-purchase Experience (Customer experience with your post-sale touchpoints: Customer service, software updates, etc.)
Customer Retention and Advocacy (Identifying customer satisfaction with your brand, and whether they are promoters or detractors)
1 in 3 people come to a brand through a recommendation and customers referred by loyal customers have a 37% retention rate (Source, Footnote 2). A positive customer journey is key in creating a loyal customer base.
Using customer satisfaction surveys on a regular basis — and after meaningful moments throughout the customer journey — provides insight into
your customers’ experience with your brand and product or service.
A great way to measure customer experience is Net Promoter Score® or NPS®. This measures how likely your customers are to promote you to their friends, family, and colleagues based on their experiences with your company.
When measuring NPS®, consider data in aggregate across teams. Since multiple teams impact
your overall customer experience, you’ll need a clear picture of performance — and that comes from multiple data points. For example, what is the NPS® for in-product usage? What is the NPS® for customer service teams across communication channels (phone, email, chat, etc.)? What is the NPS® for sales? What is the NPS® for attending a marketing webinar?
Analyzing NPS® from multiple touchpoints across the customer journey will tell you what you need to improve and where you’re providing an excellent experience already while showing customers you’re listening to them and care about what they have to say.
With your NPS® score, dive into your team-by-team performance to ensure you’re performing well across the board. Also, you may choose to follow up on customer feedback — whether it’s positive or negative — to connect with customers, deepen your relationship with them, and improve your retention and loyalty.
Churn happens — it’s part of doing business. But it’s important that you learn from churn when it happens so you can prevent it from happening again.
Make sure you’re doing regular analysis of your churned customers so you can determine whether your churn rate is increasing or decreasing, reasons for churn, and actions your team may take in the future to prevent a similar situation.
Create a forum for your customers to request new products or features to make your offerings more useful and helpful for the problems they’re trying to solve.
Whether that forum is shared via email survey, social media, or a community page, give customers the opportunity to proactively offer suggestions. This doesn’t mean you must implement all of the suggestions you receive but if there are recurring trends popping up, they might be worth investing time in.
You should also analyze the customer support tickets your support reps are working to resolve every day. If there are recurring issues among tickets, review possible reasons for those hiccups and how you can provide solutions across the board — this will allow you to decrease the total number of tickets reps receive while providing a streamlined and enjoyable experience for customers.
Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld. Net Promoter Score℠ and Net Promoter System℠ are service marks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld.