June 2017 - Customer Experience

web Jun2017 cust exper

The subject we can't get enough of...

W hich marketing opportunity is generating the most  excitement among brands these days? Is it content marketing? Mobile marketing? Print or digital personalization? If you ask Econsultancy, it’s none of these. In fact, the research firm found that the number one thing marketers see as their most exciting opportunity is customer experience.

Customer experience has been defined as your customers’ perceptions of how you treat them and is influenced by everything from the types of marketing your company engages in, to your willingness to honor their channel preferences, to how their online orders are handled, to how they are treated by salespeople inside the store.

Because customer experience has such a profound impact on so many areas of profitability (i.e., customer loyalty and engagement), it is a subject marketers can’t seem to get enough of. Recently, SuperOffice created an infographic (“32 Customer Experience Statistics You Need to Know for 2017”), which compiles a wide variety of data on this fascinating subject. Here is a sampling that shows why, if you aren’t already paying attention to customer experience, you should be. 


By 2020, customer experience will overtake price and product as the key brand differentiator.  Source: Walker 

62% of companies view customer experience delivered by their contact centers as a competitive differentiator.  Source: Deloitte

89% of businesses are soon expected to compete mainly on customer experience.  Source: Gartner

If customers are not satisfied, 13% of them will tell 15 or more people. Source: Esteban Kolsky

67% of consumers mention poor customer experience as a reason for churn. However, only one out of 26 will tell you why they left. Source: Esteban Kolsky

By 2018, more than 50% of organizations will redirect their investments to customer experience innovations.  Source: Gartner

Companies with strong omnichannel customer engagement strategies retain an average of 89% of their customers, while only 33% of companies with weak omnichannel strategies do.  Source: Aberdeen Group

87% of customers think brands need to put more effort into providing a consistent customer experience.  Source: Accenture

52% of customers are less likely to engage with a company if they have a bad mobile experience. Source: WOW Local Marketing

55% of customers say a frustrating experience on a company’s website hurts their opinion of the brand overall.  Source: WOW Local Marketing

These data were compiled by SuperOffice, which offers CRM software for small to medium sized businesses. www.superoffice.com/blog/customer-experience-statistics/

 

TOP REASONS TO IMPROVE CUSTOMER EXPERIENCE

42%  Improve Customer Retention

33%  Improve Customer Satisfaction  

32%  Increase Cross-Selling and Up-Selling

Source: Genesys

 

Do you see marketing as a sprint or a marathon? Increasingly, marketers are taking the marathon view, developing their plans to focus on long-term results rather than just “right now” sales. In this view, marketing has a two-fold purpose: to foster immediate sales and to plant seeds for tomorrow’s.

First you must identify the factors that will further your company’s long-term marketing goals. You might not have a perfect understanding of every looming competitive, economic, legal, sociological, or technological force, but you can become alert to the possibilities. Arm yourself with information on the longevity and profit potential of your present market’s lifecycle as well as budding market opportunities so you can begin positioning your business for tomorrow today.

Here are a few ways to foster future business opportunities regardless of your business size or budget.

1. Provide platinum-standard customer service. Your goal is always to exceed your customers’ expectations, but if you fall short, admit it. Many loyal repeat customers result from perfectly corrected errors.

2. Cultivate your elite customers. Your best customers—those who are easy to work with, who really like you, and who have a positive history with your company—are a goldmine of quality referrals. Strengthen existing relationships and build new ones by giving your top clients and their guests special offers, insights, and previews of your innovations.

 

3. Create top-of-mind awareness. Not everyone needs your product or service today, but many will at some point in the future. Capitalize on your vision of emerging needs and trends, communicated using our suite of multichannel marketing tools and techniques, to get your product in front of tomorrow’s customers now.

It takes time for the seeds you plant today to germinate into future business. Essential to all of this is to communicate effectively with your target audience. Consult with us to learn how our technology and expertise can support these efforts.