Why is Customer Experience so Important?

Why is Customer Experience so Important?
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It’s clear that the customer is truly king in today’s business. The time has come when customers have 24/7 access to everything with multiple options to choose from. Now, customers are almost no longer after brands, it’s brands who need attention and make efforts to keep their customers engaged. Customer expectations of highly personalized experiences continue to evolve every day. Customer experience encompasses culture, processes, people, products and services, information, customer touchpoints and channels, and technology. 

Satisfied customers remain loyal customers and that’s why nearly 70% of marketers focus to improve the customer experience. Customer satisfaction is more important than ever before. In today’s world of technology, one customer who has a bad experience can share negative reviews with potentially thousands of customers within seconds which can be detrimental to a business. On the other side, customers having a good experience can go as far as to promote a business on their own, which makes them a valued customer as well as a valuable marketing asset. Here are some of the benefits a great customer experience can add to improve business performance. 

Brand recognition and brand awareness 

Nowadays, consumers decide their purchases on the basis of their experiences throughout their customer journey. Delivering a great customer experience improves brand recognition and ultimately brand loyalty is the journey concludes well. 

Satisfied customers are your biggest advocates

According to an American Express study, 53% of American consumers post positive reviews and 35%post negative feedback on social media and review platforms. Consumers usually check the reviews of a brand before making a purchase from them. So, satisfied customers posting positive reviews have the potential to make a new audience and promote your business. Gaining new customers can cost 7 times more than retaining existing customers. But your happy customers do it for free. 

Stand out from competitors

It doesn’t matter what kind of business you are running, competition is everywhere. In the past, competitors fought for their share of the target market through price wars. But, now customer experience is everything. Customers can make you or break you in no time. What you do for your customers, how you treat them and how you value them; can truly make a difference and help you stand out from your competitors. 

Increase your ROI 

Providing great customer experiences result in a massive increase in your ROI. Struggling with redundant marketing plans and strategies is no more useful when the key is just to make sure your customers are happy. You just need to focus on fulfilling the requirements and needs of your target market as well as meeting the customer expectations and those consumers will do the rest of the marketing for you. 

 

There are a lot more benefits that you can get by providing an excellent customer experience. It also serves to build a relationship of trust that is another critical component in building a long-lasting relationship.

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