Customer Experience – Your Competitive Advantage To Increasing Customer Lifetime Value And Loyalty
51% Of customers will never do business with a company again after one negative experience.
93% Of customers said they are more likely to be repeat customers at companies with remarkable Customer Experience.
The purpose of your business is to find, sell to, and keep customers. The way customers find, buy, and use products and services has evolved significantly over the past decade especially. The culture of instant gratification, on-demand delivery, the subscription economy, product and service personalisation, as well as stiff global competition, behoves you to implement great Customer Experience (CX) initiatives as your new competitive advantage.
Customer experience (CX) is defined by all the interactions between your organization and its customers throughout the lifetime of the relationship between your organization and your customers. CX entails:
Managing and meeting the expectations of every contact between your organization and its customers, as well as
Utilizing every interaction and brand touch point to create and maintain a positive and delightful experience throughout the relationship with your customers.
How effectively you do this will determine how your customers perceive their experience with your organization, and therefore whether they have a good or bad Customer Experience with your brand.
Improve Customer Lifetime Value
Customer Experience is known to have a significant impact on your “Customer Lifetime Value” (CLV) – CLV is defined as the estimated net profit that can be reasonably attributed to a customer’s spend with your company over the lifetime of that relationship. The value customers extract from your company is directly affected by the perceived overall experience they have with you company.
This is because when customers are continuously happy with how they interact with your company as well as with the results they get from using your products or services, they will not only keep coming back, but they will also refer their friends and family to you.
Great CX helps brands and companies to:
Reduce marketing costs through increased positive word of mouth
Establish trust in the company brand and its people
Improve product and service adoption
Increase customer retention and loyalty while reducing customer attrition
Our A-Game Customer Experience Solution is designed to help you:
Assess and analyse for gaps, challenges and opportunities in improving your overall Customer Experience.
Set a benchmark for the business across competitors and similar businesses against which we can compare and set goals.
Define a S.M.A.R.T. CX strategy as well as the supporting tactics, processes and systems
Get buy-in from all your business divisions to rally behind your CX initiatives
Transform your staff so that they are educated, more engaged, willing and capacitated to contribute towards your CX initiatives
Design customer journey mapping for a customer-centric experience
Implement metrics against which to measure and improve CX on an ongoing basis
Use marketing and sales as part of the foundation on which to build CX and customer success
Execute and embed CX into the core organisational DNA and culture of doing business
In a world where there is very little difference in the products businesses offer to their respective markets; a significant determiner of your own business success is based on the experience and interactions customers have with your company.
Only those companies that truly commit to and deliver great Customer Experience and success will reap the rewards of winning their customers’ hearts, minds, wallets and loyalty.
If you’d like to get a FREE assessment of your CX strategy as well as recommendations on how you can improve on your CX to:
Create a superior customer experience strategy and customer service culture
An aligned and customer-centric organisational culture, as well as
A strategic competitive advantage…
… then feel free to get in touch by completing the form below with your contact details and we will be happy to assist.
Contact us for a FREE Customer Experience Benchmark Analysis.