To simply put, customer experience is a measure of how customers perceive their interaction with a brand or a company. A survey conducted in the year 2016 found that 75 percent of businesses have made improving their CX or customers experience their primary business objective. As per many marketers and brands, improving CX was a pressing concern for them.
So now the question is why CX has become such a concern for all? Since the advent of social media and the internet, consumers have become more informed and aware. Their expectations are increasing, and they are very vocal about their opinions on any brand. Thus, it has become essential for brands and marketers to devise a digital marketing campaign that is formulated keeping in mind the likes and wants of a customer.
If we go by the statistics, on an average a brand with high CX generate 17% of revenue growth in 5 years while those who have poor CX deliver just 3%. But besides this, how CX helps a business? Let’s find out here.
Improves customer satisfaction
On average brands and companies around the globe has 86 percent customer satisfaction rate. Improving customer experience means going over and above the expectations of your customers. To achieve this, ensure that you provide the services you have promised to deliver. As per reports, a fully satisfied customer generates 14 times more revenue than a dissatisfied customer. Marketing consultants in digital marketing agency Virginia Beach suggest maintaining consistent CX throughout all touch points.
Makes potential customers loyal
The primary objective of creating a CX is to impress customers and have them returning to you again and again. For any business, positive customer experience becomes a valuable asset that can be a catalyst to its further growth. Maintaining customer is cheaper than making a new one, but if one puts in enough affords to create a superior customer experience, it can pay off well in the future.
Builds trust and creates personal relationships
With countless brands advertising online and offline, the market has become relatively robust for brands to develop a personal relationship with their customers. Creating personalized content has become a key to form a personal connection between a brand and its users. Establishing a customized communication strategy makes users feel special and develop a positive attitude towards the brand. Better CX means a long-lasting customer-brand relationship.
Increases customer advocacy
Word of mouth works wonder in generating more leads and convert potential customers into sales. No matter how much you deny this fact, but 84 % of consumers have no trust in advertisements anymore. Customers prefer their-party to validate while making online purchases.
Helps you stand out from competition
Since the market is full of brands offering the same products, the race has gone stringent. The availability of online marketing tools has roughened the game even further. Here, having the edge of higher CX can make a business stand apart from others. Many business tycoons and marketers have predicted that after price and services, CX will be the next product differentiator. Customers in the future will not only evaluate a product by cost and services but also by user experience.