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5 Reasons to Provide an Outstanding Customer Experience

Posted by Tom Smith on Wed, Sep, 10, 2014 @ 10:09 AM

Outstanding customer experience

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Temkin Group (#btemkin) just published the results of its research, the ROI of Customer Experience, 2014.

 

In it, they share the five benefits of providing an outstanding customer experience:

 

  1. Loyalty

  2. Repurchasing

  3. Willingness to try new products

  4. Forgiving mistakes

  5. Recommending your product or service to a friend or colleague (a.k.a., referrals)

Based on a study of companies in 19 industries, companies that provide an outstanding customer experience have a net promoter score (NPS) that's an average of 22 points higher than those companies that do not provide an outstanding customer experience.

 

In addition, by modeling the revenue of the companies with their NPS score, The Temkin Group projected that companies that continue to provide an outstanding customer experience will see significant greater revenue growth, than their competitors, in these three industries:

 

  • Hotels = 46%
     
  • Fast food = 44%
     
  • Retail = 43% 

 

Are you and your company committed to providing an outstanding customer experience?

 

Are you using net promoter score (NPS) to measure loyalty and increase revenue?

 

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Tags: outstanding customer experience, loyalty, net promoter score, referrals, NPS