According to Forrester, a one-point improvement in the NPS (Net Promoter Score) for e-commerce sites leads to an increase in profits of up to 25%.
Forrester also states that companies with returning customers from social media spend 35% more on average than companies without these repeat customers. This is because they have a more loyal customer base and are therefore less likely to churn out than companies who don't have this advantage.
The reason why customer experience is so powerful is because it impacts every part of your business. Your customers are experiencing every aspect of their relationship with your company—from how easy it is to find information about your products online to how fast an employee responds to an email inquiry—and making decisions based on those experiences. If a customer's overall impression from all their interactions with a brand leaves them feeling negative, they won't buy again or refer others to do so.
Customers are in the drivers seat
Customers are more informed than ever, demanding more from brands in terms of quality and service. They're connected through social media and other channels, and they have a voice online that can be amplified by others. Additionally, customers have more choices than ever—between products, services and brands—and are constantly on the lookout for better options to meet their needs. This shift towards greater choice means that companies cannot afford to take their customers for granted or make simple mistakes when interacting with them.
Employees are your front line defence
Whilst CX and digital are often spoken of in the same breath, employees remain your front line defence. They may no longer be the initial touchpoint, but if things go wrong then escalation needs to get to a real person; and that person needs to have all the tools and knowledge at their fingertips to resolve issues quickly. This is critical when you consider that 91% of consumers say that if a company representative is rude or unhelpful, they will tell others about it—and 64% of them will share their experience on social media.
Your CX plans must impact customers and employees
You need to make sure you are covering all aspects of the customer experience. If an employee has a bad experience, it will impact your customers’ experience as well. Your employees are your front line defence, so they must see the customer experience as important and understand how it impacts them as well.
How do you ensure that your employees feel connected to the customer experience? You want to make sure that there is room for them to contribute their ideas, so they feel invested in it. It's also important for them to see how their work is helping improve things for customers—and that means having regular check-ins with management about progress towards goals (and what else needs fixing).
Employee satisfaction and engagement are directly linked to customer satisfaction; therefore employee experiences should be measured alongside those of customers in order for organizations within any industry sector or geographic region/country geographical region(s) provide evidence-based insights about whether specific elements within organizational processes lead more often than others during contact points between customers and employees (i.e., surveys).
The bottom line
Customer experience is a key metric in determining your company's success, and it has a direct impact on your bottom line. If your customers are loyal, they're more likely to stay with you than look elsewhere when they need goods or services. If they're not happy with their experience, there is a good chance that they will go somewhere else and encourage others to do the same.
Customer experience should be measured and monitored so you can identify areas where improvements can be made, especially if your business is struggling financially. This will help you make informed decisions about how best to serve customers based on their needs and wants rather than just following standard operating procedures for any given situation. The result is better customer satisfaction scores—which lead directly into increased sales because these reviews become free advertisements for your business online.
Customer experience is a crucial aspect of any business. It can help you grow your customer base and build loyalty towards your brand. As such, it’s important to understand how technology can improve your process and make it more efficient for customers.
The following are examples of some of the ways in which software can make a difference:
- automated customer service bots that respond to queries quickly
- decision making AIs that help optimize customer service staff schedules based on demand patterns or calendar availability from both employees and clients
- the ability to monitor social media channels for mentions about your product/service or even competitors so you can respond immediately before negative sentiment spreads across other platforms like Google Reviews & Yelp reviews.
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