Blog

What kind of Customer Experience are you providing?

Posted by Tom Smith on Thu, Nov, 10, 2016 @ 08:11 AM

Loyalty-resized-600.jpg

 

According to Gartner, 64% of people say customer experience (#CX) is more important than price in their choice of a brand.

According to American Express customers are willing to pay 17% more for a good customer experience.

Forrester found that 80% of companies say they deliver superior customer service. However, only 8% of people think these same companies deliver customer service worthy of a superior rating.

What kind of customer experience are you providing? Have you asked your customers? Have you asked your employees? Engaged customer-facing employees have a better idea of the customer experience than non-customer facing employees. Disengaged employees don't care.

How do your customers define an acceptable, unacceptable, and outstanding customer experience? Ask them. That's the only way you'll ever know. 

Talk to your customers to let them know you care about what they think. They'll be amazed that you care about them as individuals.

Recognize employees who provide an outstanding customer experience so other employees will know what you value - beyond revenue.

If you address a customer's concern, they're more likely to stay with you than a customer who never complains.

Save a customer time, make their life easier and you'll earn a customer for life - and probably reduce your marketing budget.

 

Click Here To Schedule a 30-Minute Consultation  to Discuss Marketing or Sales Issues

 

Tags: CX

Customers' Emotional Connection to the Brand and #CX Pays

Posted by Tom Smith on Wed, Apr, 27, 2016 @ 12:04 PM

 

Temkin_Group-resized-600.jpg

 

Great insights from Bruce Temkin and Temkin Group with the following statistics from "ROI of Customer Experience 2015" which looked at the connection between customer experience (CX) and loyalty for 10,000 consumers and 300 companies across 20 industries.

Key findings:

  • 87% of consumers who give a high rating for emotion were likely to make multiple purchases, compared to 13% who gave a low rating.
  • 76% of consumers who gave a high rating for emotion were promoters compared to six percent who gave a low rating.
  • 63% of consumers who gave a high emotion rating were likely to forgive a company's mistakes compared to 11% giving a low rating.

The findings from Temkin Group are reinforced by findings from Forrester:

  • CX leaders grow revenue three times faster than CX laggards. On average the eight CX leaders had a compound annual growth rate (CAGR) of15% while the laggards grew at an average of 2.5%.
  • Companies with superior CX can charge more for their products and services. This is especially true for customers who rate an experience as "outstanding."
  • Superior CX drives customer loyalty and purchase intent. When customer has a good experience they'll tell their friends about it - in person and online, they'll spend more with you and be less likely to move to a competitor if you have a hiccup in service.

I've written numerous posts of the need to create an emotional connection to the brand.

I've worked with companies where the SaaS customers were not engaged with the brand and renewal rates were dismal. I've worked with a professional services who was much more concerned with sales than customer sat, CX and retention with similar results.

You need to establish a two-way relationship, ideally a dialogue, with your customer where you are learning what's important to your customers, while at the same time convincing them of your commitment to meeting their needs. The more you learn about customers' needs and wants, the more you'll be able to make their lives simpler and easier which will lead to a "customer for life."

The more you establish an emotional connection with your customer, and provide a solid CX, the more loyal they will be, you'll see less churn, and greater revenue.

As more companies learn about the positive ROI in engagement and CX, perhaps they'll reallocate their marketing spend from lead gen to customer retention?

What are you doing to enhance the emotional engagement and CX of your customers with your brand?

 

Download the Free e-book

 

 

Tags: emotional connection to the brand, customer experience, CX