Customer experience management (CXM) is fast becoming a top priority for B2C and B2B businesses. We expect this to trend to advance further in 2021.
Why? The demand is there.
86% of buyers are willing to pay more for a great Customer Experience (or CX).
Retailers who prioritize the customer experience are earning more and cultivating loyal, repeat customers. Not only that, this PwC stat shows 32% of customers will walk away from a brand they shop with after a single bad experience. The same set is willing to pay more for a personalized customer experience.
Creating a great customer experience will improve your business and increase revenue.
But just how are you supposed to go about improving the customer experience?
The first step to building a better customer experience management strategy is to develop a clear vision to guide your strategy and communicate to the entire team. Everyone in the organization needs to be on board and understand their role in improving the customer experience.
Typically, creating a vision begins with creating clear statements that outline company values and define the company culture. Once these statements have been written and refined, everything your company does should support its overall vision. That means weaving it into every aspect of employing training and development to become a guiding force in daily operations.
No matter what industry you work in, what type of company culture you are trying to create, or what goals you have established, every business concerned with the customer experience should aim for consistency.
Every customer, regardless of their needs, should enjoy a personalized experience. Besides, return customers should consistently receive the same level of care.
You can’t begin to improve the customer experience without focusing on the customer. It would help if you spent time getting to know their wants, needs, and pain points. Who are the different customers that will be interacting with your team, and what are their expectations?
One simple way to gain a deeper understanding of customers is to create a persona or customer profile. These in-depth profiles look at a variety of demographics that define your customers. For example, “Elizabeth” is 40 years old, has a college education, three kids, and a busy schedule. She is tech-savvy and looks for companies that offer convenient, hassle-free return policies. On the other hand, John is 55 years old and prefers a more personal touch that allows him to speak directly with customer service.
Creating these personas will lead to a better understanding of customer needs so that your entire team can adapt as needed and provide a truly customer-focused experience.
Creating personas is a tried-and-true marketing tool, but new technology offers additional ways to collect and analyze customer experience data.
Customer Experience 360 (CX 360) solutions exist specially designed to provide valuable insights into customer behavior. As a result, businesses can then provide a hyper-personalized experience to sell their products and services while also automating many processes.
Not only can these tools support team members so that they can perform their best, but they also improve the customer experience. Investing in and taking advantage of these types of technology can increase your competitive edge.
Customer service means meeting the basic needs and expectations of the customers. Creating a great customer experience management strategy goes above and beyond that and establishes an emotional connection with customers cultivating brand loyalty.
Chewy is one strong example of a company that has earned a reputation for delivering an excellent customer experience. Instead of making customers deal with returns, they encourage existing customers to donate the items to local shelters:
“Not only do they offer excellent pricing and efficient shipping, but they truly care about the fur babies. They gave me a refund when my cat didn’t like her new food, and I was able to donate it to a shelter rather than returning the unused packages.”
Also, Chewy sends birthday cards to pets and condolence cards when a beloved pet passes. These gestures create an emotional connection in customer interactions that is much more than just a business transaction. Keep in mind that businesses that can capitalize on emotional connections can outperform competitors by 85% in sales growth.
The last thing you want is to have an unhappy customer reach out and have to wait days or even weeks before they get a response to their email or voicemail. It is then essential for you to have the latest and accurate customer data to enable customer support and service.
Riversand’s CX 360 solution helps provide immediacy by updating the customer data in real-time, avoiding de-duplication that mars efforts and securing the data in the right channels that lead to better customer service.
Once you have defined your company vision and guiding principles and receive feedback from customers, scale faster by leveraging intelligent insights into how your team is measuring. This information should influence the process, automation, and training approaches so that weaknesses are addressed and can continually make improvements.
As you establish a framework for useful data, keep in mind that you will have to go beyond simply evaluating the quality of customer journeys and communication. It would be best to incorporate more dynamic recommendation tools that automate your next-best actions and track progress.
As you prepare your business for the next 12 months or five years, improving the customer experience should be one of your top priorities. While this has always been important, it’s now directly tied to revenue growth.
Developing an effective strategy to earn and cultivate loyal customers will give you the competitive edge you need. Be sure to take advantage of customer and employee feedback and use the latest tools and technology to understand your customers better and shape your future vision.