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With so many companies making it a priority to transform their customer experience, any company not doing so will be quickly left behind. So why is the customer experience so important? And how do you influence customer experience? Well the customer experience statistics 2020 has thrown up would illustrate that it is incredibly important in regards to your brand.
Companies with a stellar digital customer experience can command premiums of up to 25% on their products, so it can pay dividends to put time and effort into providing a great customer experience. Conversely, a poor CX can lose you customers quickly. Over a third of customers said they would consider switching to a different company if they had just one bad experience with a brand. This is why focusing on your customer experience is such an important element of your overall company identity.
While it may be difficult to measure with a KPI or a specific number, the importance of customer experience cannot be overstated. The impact it can have is huge and but it has an outsize impact on whether your customers are happy and loyal to your brand. In a lot of ways, the customer experience differentiator can be the deciding factor between someone choosing to pay for your products or services or electing to go with a competitor.
With customer experience as a differentiator, embracing new technologies and staying on top of current trends is important in order to keep your customers happy and engaged with your brand.
The customer experience landscape has changed enormously in recent years. Modern technological innovations now mean there are a wide variety of channels from which customers can engage with a business. This includes getting i live help either via a website or direct video link. Technology now means that businesses can have live chat functionalities with website visitors via instant messaging or video chat immediately. These tools aim to improve the customer experience by taking a time that is usually stressful for the customer, such as troubleshooting, answering questions or dealing with issues and looks to make their experience as simple and stress-free as possible.
The newest channel companies have to incorporate is social media. Social media is now a key pillar as it is a new avenue for sharing content with customers, engaging with them and receiving negative feedback and information. Social media allows customers to like and share the businesses they love, but also personally speak to the businesses directly and instantly. In today’s climate, customer experience has to go beyond just the point-of-sale moments and extend into a variety of other channels.
Following and implementing strategies built around the CX trends 2020 has to offer can be incredibly useful for your marketing strategy. Understanding the trends and utilizing them effectively can really help separate yourself from the competition. When it comes to the coming year, the trends likely to be seen in regards to customer experience include:
The difference between a good customer experience and a bad one can essentially be boiled down to making the difference between a conversion and a lost potential customer. By repeatedly improving your CX and prioritizing the experience your customers have when interacting with your brand will build strong bonds of loyalty and has the ability to turn a one-off shopper into a repeat customer.
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