Whether asking about a suspicious charge, upgrading a subscription, or getting help, we’ve all been in IVR purgatory. We diligently provide the needed information, navigate the prompts and test our patience on hold, only to be disconnected before our problem is solved, or are asked to repeat the exact same information once we talk to an agent. While botched online experiences can be just as frustrating. When these negative experiences happen, the company we’re trusting for good service seems to be sending us a clear signal they don’t care about our business– and chances are, they likely won’t keep it for long. Fortunately, a great customer experience (CX) has the opposite effect. Studies show CX is a key decision factor when making a purchase.
In many cases it is CX, not a product feature, that will be the key differentiator in a customer’s decision to work with, or purchase from a business, as determined by this survey by The Harris Poll.
It stands to reason that CX is increasingly becoming a key driver in business transformation and growth. After all, customer satisfaction benefits most companies’ business objectives: growing revenue, retaining customers, attracting new ones, improving margins, and reducing churn.
It is hard to grow revenue but it is even more difficult when hard-won customers leave due to a poor customer experience. Not only do you need to sell more, but the cost to acquire a new customer can be 5x greater than retaining an existing customer. Because of this, companies onboarding new customers need to proactively deliver a positive CX at every touch point to increase satisfaction and ideally, loyalty.
Great CX is what customers really want (and really pay for)
Better CX used to mean offering quality products and a smile. Today, customers are seeking to engage with companies in new ways, adding some complexity to the CX equation – and raising the stakes. Understanding your customer and having a holistic view of the customer journey is critical to delivering an outstanding CX.
You can gain more insight into customer expectations and the CX in this whitepaper.
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