The experience that your customer has when interacting with your business is essential to the long term success of your company. If a customer has a positive experience they are more likely to think positively of the overall buying experience and subsequently become a loyal customer. Having a band of loyal customers means increased revenue because these customers will be more likely to choose your product over a competitors’ whenever they’re in the market for a product within your category.
Taking the time to invest in your business’ customer experience also means that these satisfied customers will be more likely to share their experience with their friends and family, therefore spreading their positive experience through word of mouth and potentially increasing your customer base.
However, how can you be sure that investing in customer experience is a worthwhile expense? Well according to Forbes, companies that emphasize customer experience are shown to drive revenue 4% to 8% higher than other industries. If this statistic isn’t convincing, then consider that 84% of companies that focus on creating a positive customer experience report having experienced an increase in revenue. Let’s delve into exactly why customer experience supports company growth and how you can apply certain strategies to foster this positive experience and increase your profits.
Why a Positive Customer Experience Boosts Company Growth
So we understand that a positive customer experience drives sales, but why is this the case and how is it done? Customer experience (also known as CX) affects multiple facets of a business. To prove this, here are a few examples of the ways in which customer experiences boost overall growth.
How to Measure Customer Experience
Understanding the value of a positive customer experience is one thing, but without being able to properly assess your business’ current level of customer satisfaction how can you expect to increase your CX rating?
To increase customer satisfaction you must first have a system that allows you to measure the current level of satisfaction, this way you know where you can improve and when you’ll need to improve in the future. Fortunately there are a few ways that you can measure this and apply it to your business.
Being able to successfully measure the current satisfaction level of your customers will be essential to increasing the overall positivity of your customer experience. After assessing where your business lies on this spectrum, the next step is to take these findings and apply them.
How to Create a Positive Customer Experience
Creating a positive customer experience means understanding your customer on as deep a level as is possible. You need to understand the entire journey a customer makes, from deciding they want to buy a certain product to making that final click or swipe and purchasing it. The more you understand your customer, the more effective your solutions will be.
To better understand your customer, consider asking yourself these questions:
- What is the customer thinking or feeling?
- What is the customer’s action?
- How does a customer interact with your business?
After asking these questions or similar ones, you can implement the following strategies in order to create a great customer experience.
A Great Customer Experience Engages Customers and Makes Sales
Forming a successful brand, accumulating and maintaining a consumer base, and growing your brand over time is all founded in the emotions of your customers. Consumers seek connection with their brands, and fortunately there are actionable steps that can be taken to foster this connection. Take these steps and always keep the customer in mind. Before you know it growth will come.