What is Customer Experience?
“What is ‘customer experience?” Is it just marketing? And why it is getting so much attention now? Whether you are new to the whole concept of customer experience or just confused about the entire buzz around it. Buckle up, because we have a lot to tell you.
Defining Customer Experience
Customer Experience is essentially how a customer perceives a brand through all the interactions across the customer life cycle. In simpler terms, it is the sum of all interactions that could either delight or disappoint a customer during their journey.
But what counts as an interaction?
It is when you and your customers come into contact with one another; whether an in-store visit or an online interaction or even talking to one of your employees. These interactions assist customers in building perceptions about you; whether the interaction was satisfactory, were your employees well trained and easy to engage with. Furthermore, it also contributes to the overall emotions & brand perceptions that are conjured up in a customer’s mind when they think about any brand; making positive customer perceptions a brand’s number 1 priority.
Delivering positive customer experiences
Why is positive customer experience desired, if you may ask? It’s primarily because it makes your customers happy. Statistics show that companies that focus on providing a stellar customer experience across customer journeys experience a 10-15% increase in revenue & a 20% increase in overall customer satisfaction. This reinforces how positive customer experiences are great for revenue because happier customers stay loyal and loud. Positive CX also means that your customers refer your brand among their peers which means more business for you. Sweet, right? Turning happy customers into your brand advocates without a cost; what company wouldn’t want that?
Avoiding negativing ones
Needless to say, negative customer experiences need to be avoided at all costs. They lead to customer frustration and bad worth of mouth that can cause a pretty significant impact on your revenue, proving to be more detrimental to your business than you might imagine.
Whether you are a small business owner or someone handling a multinational; today’s customer is hungry for more. Hungry for seamless interactions and memorable experiences. So, how do you define customer experience? And are you geared up for the customers of this day? Let us know your thoughts!