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Importance of Customer Experience
Customer experience can have a significant impact on businesses. It can help retain clients and encourage them to recommend companies to others.
FREMONT, CA: In modern times, the customer is king and has become the greatest game-changer for any enterprise. The customer experience (CX) has become the top priority for any successful business. If a customer enjoys the brand, he will continue using it and spread positive word of mouth. This will increase brand recognition.
CX generally describes how customers perceive their interaction with a company or brand. Every interaction contributes to the CX, whether the customer interacts with the brand in-store or online. Customer education and empowerment are critical factors in today's market. They have multiple alternatives if a brand or company cannot satisfy its needs.
According to research by Forrester, 80 to 90 percent of customers who have a negative experience will leave with little chance of returning.
Products and services are insufficient for establishing brand recognition or gaining a competitive advantage. In terms of quality and cost, competitors can provide comparable products. The ability to offer an exceptional CX separates companies from the competition.
Increasing customer satisfaction: According to a report by McKinsey, Customer satisfaction can be increased by 20 percent in companies that provide a seamless customer experience. The organization should ensure that it delivers a consistent CX across all touchpoints, resulting in a seamless journey for the customer.
Improve customer retention: A superior CX is a boon for the customer and a competitive differentiator. A positive CX ensures the customer will have a lasting relationship with the brand and spread positive word of mouth. This leads to customer retention.
Reduces customer attrition: Price is not the only major cause of customer attrition. Poor customer service quality is the cause of customer churn. A CEI survey reveals that 86 percent of buyers are willing to pay more for a superior CX.
Confers a competitive edge: An exceptional CX can be a significant competitive advantage. The company's key differentiators can be low prices or an excellent CX.
Boost Sales: Customers are willing to pay more to businesses that provide superior customer service. Ultimately, this increases sales and revenue.