Customer experience, or CX, relates to the infinite journey that unfurls from the first time your customers become aware of your brand, to the moment they are established as a loyal and satisfied client and beyond.
The impact of your customer experience matters immensely. According to research by global technology company Oracle, the cost of getting things wrong with your customers can be as high as 20% of annual revenue. In real terms, for a company with an annual revenue of £1,000,000, getting customer experience wrong could cost a whopping £200,000.
CX has evolved hugely over the past decade. Expectations have rocketed in this world of online comparison and social media shares. Customer voices are amplified online, and poor customer service means you run the risk of damaging your brand in front of thousands of people. We all know that the customer is king. So, why do we underestimate the impact of not properly addressing issues within the customer journey?
The same report from Oracle found that 86% of customers would be willing to pay a premium to businesses that get customer experience right. Getting customer experience right is not just the right thing to do, it makes financial sense.
1. Get to know your customers
Who are your customers? What do they want? How and when do they want it? Where do they connect with your brand?
These questions take us right back to basic marketing principles, but with technology injecting a new layer of intelligence, we can really ‘know’ our customer. Make the most of information gleaned from your CRM and sales analysis systems and find out what makes your customers tick.
Data is evolving to make this process even easier for us. Keep an eye on your customer satisfaction scores and net promoter index. These benchmark us against the competition and give us an indication of what buyers think of us.
Harnessing data allows us to fix issues quickly and helps us to anticipate how to delight our customers and sell even more.
2. Choose the right partners
We are all inter-connected with partners in small or large ways, whether it is as part of a wider supply chain or through outsourcing our calls and back-office support.
Problems along the supply chain can mean that you are left apologising for the mistakes of others. Despite this, the customer still expects a seamless experience with a single point of accountability. The buck has to stop with you.
For world-class CX, workflows behind the scenes must be clear and communication must be transparent and speedy to create a consistent customer experience. Choosing partners that share your vision and values can make all the difference in the world.
3. Educate your leadership team
Creating a customer-centric culture must start with leadership. It is key that those at the top of the organisation understand the customer journey and can effectively communicate this to the wider team.
De-mystifying who our customers are and what drives them means that we can set high standards, applaud our stars and correct problems quickly.
4. Invest in your people
Investing in your people and maintaining a positive internal culture will no doubt translate to a better CX.
Training, mentoring and incentivising your team will make all the difference when it comes to going above and beyond for customers. Empowering them to solve problems and deliver the best service possible will be the difference between just meeting customer expectations and exceeding them.
I believe that our people are our greatest asset and making them feel valued, knowledgeable and confident is worth every penny.
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