When a customer is totally satisfied, according to Trustpilot, they contribute 2.6x more revenue to your business than a somewhat satisfied customer - and 14x more revenue than a dissatisfied one. Usually, it isn’t even the product causing the difference in spending, it’s their experience with the brand. Even when customers had a negative encounter, 95% would give a brand another shot if the situation was handled correctly.
Research by Invespcro shows that it costs 5x more to attract a new customer than to keep an existing one. So, we want to keep our customers, keep them super happy, and stay profitable? Sounds simple enough.
How can we ensure customer’s expectations are not only met - but exceeded?
We can look at Forrester’s “CX elite” and how they treat their customers. Trader Joe’s, Chewy.com and Etsy beat other brands by understanding the emotional needs of their customers and by providing engaging experiences. They develop a loyal group of devotees who are willing to forgive mistakes, pay a premium for products and services, and retain their business over time.
These brands are excellent examples of how to remain dependable and consistent with your customer experience. Many contacting Chewy.com’s customer service are pleasantly surprised at the experience and subsequent outcome. The opportunity is always there to delight customers with extraordinary service. Chewy.com seems to have figured this out.
How can we use this knowledge to improve our own customer experience?
Make your customers feel unique. Ask at every stage what customers want from your product or service (and really listen to the answer). Personalize experiences and products based on how customers use your product or service and make suggestions customized to their needs. Creating a tailor-made experience impresses customers and solidifies future business.
Help customers help themselves. Customers are pleased when they can manage their own accounts, or don’t have to call an agent to answer basic questions. They also don’t have the patience (or time) to sit on hold during “normal” business hours for live help. Invest in readily-available technology for virtual assistants, chatbots and self-service portals. The tech is there, use it to your advantage. (Allow for escalation when appropriate.)
Engage on social media. When a customer interacts positively with a brand on social media, it creates a compelling marketing story for millions to witness. Never before have companies been able to quickly, effectively (and inexpensively) connect with loyal and future customers all over the world, and listen to their feedback. If you aren’t fully positioning the connectivity and influence that social media can bring to your brand, get started now.
It's difficult to create a positive experience with a negative employee. A lot has been mentioned about customers, but what about the employees who serve those customers? For some brands, CX hinges on interactions between a customer and an employee. Imagine if your employee isn’t engaged with your brand, or worse, dissatisfied with it? Employees are the face and voice of your brand, and that is an important asset. According to UXdesign, when you prioritize the needs of your employees and your customers, it creates a positive workplace, leading to better customer engagement and experiences. Listen and respond to employee feedback just as you would for your customer, it creates a “people-centric” (not just “customer-centric”) environment.
Maybe it’s that simple: Give your customers and employees a voice, really listen, respond and take action.
Creating special customer experiences is the future. It could be as easy as providing self-service options, customizing and personalizing, automating, and using low or no-code APIs for app integrations. Phonism can help you with all of this and more.