Five reasons why good customer experience matters

A positive customer experience drives people to your brand; a negative customer experience drives them to the competitor. Customers are the force behind a company’s success and ignoring the customer experience at the expense of profit is detrimental for any business.

In the past, companies valued profit above all, and the bottom line was to bring in as much money as possible by keeping costs low and ensuring happy shareholders. Client satisfaction was less of a priority, and customers had less opportunity to voice their displeasure. Businesses had the upper hand.

Fast-forward to the 21st century, where we exist in an online world and have experienced the uncertainty of a global pandemic, providing a delightful customer experience is the only way companies can stay alive in an ever-expanding and increasingly competitive market.

Fifty years ago, a dissatisfied customer would take their business elsewhere and maybe warn a few people of their experience - this is how the word would get out. Word of mouth is still one of the best marketing tools; however, nowadays, negative customer experiences can be broadcasted to the entire world through online reviews. If a company has too many bad reviews, it will tell potential clients to avoid this company at all costs. Company reputations depend on the kind of user experience offered to existing clients.

Living through a global pandemic has emphasized the importance of a positive online presence and providing a good customer experience. Although countries have started opening to varying degrees, for most of 2020, the world shut down, and virtually all business was conducted online, thus magnifying the importance of a positive online presence. 

Customer Experience matters because…

Customers have control

Clients of the 21st century are in control, and if you want to get their business, you need to understand and cater to their needs. Whereas traditionally, sales representatives had the upper hand, your customers now have more resources at their disposal to educate themselves on your products and services, as well as your competitors. 81% of people conduct online research before taking concrete actions to interact with a brand.

Providing customers with all the tools they need to make their way down the sales funnel offers them a good customer experience. Tools such as implementing online chatbots to answer questions 24/7 or having a functioning online booking system allow clients to bypass the hassle of calling customer service. This is especially helpful during off-hours and makes the customer experience smooth and effortless.

Customers are your best marketers

Good public relations and good sales reps can only go so far in getting people to trust your brand. People often look to trusted sources such as friends and family to influence their opinion on who to give their business to. These same happy (or unhappy) customers are also telling the world through online platforms. Good reviews are one of the best ways to attract new customers. Satisfying your existing clients is a great way to attract new ones.

Satisfied customers are loyal

People prefer to invest their money in a brand they trust, and people are more likely to return after a positive experience. On the flip side, one in three customers says that a negative experience will drive them to the competitor, enhancing the importance of providing a great customer experience.

Realistically, sometimes customers run into obstacles, and although this might negatively affect the way the customer views a brand, companies can redeem themselves by navigating the situation promptly and maturely.

Replying to negative feedback by providing practical solutions can go a long way in changing customer perspectives. Not only does it tackle the issue faced by the customer, but it also shows future customers the company’s proactiveness in rectifying errors and its ability to maintain relationships with existing clients.

Returning customers cost less

Marketers often try to find new and innovative ways to attract qualified leads and invest a lot of money to do so. Providing a good customer experience is one of the first steps, but studies show that it costs more than five times more to attract new customers than to keep existing ones.  Putting clients first is one of the soundest ways to retain your customer base while lowering your cost and expanding your reach.

Price is no longer a defining factor

People no longer rely on pricing as the sole determining factor for choosing a company to do business with. If your competitors have identical products at the same price but offer a better customer experience, they will reap the benefits. A company with a well-designed website that provides quick and helpful information by phone or chat and engages with its online audience will have a competitive advantage. Don’t rely on your low prices to attract customers - think beyond.

Best Customer Experience practices for marketers to win more business

Know your customer; it’s one of the best ways to satisfy them. Understanding their concerns and pain points allows your brand to be proactive in providing solutions and offering personalized services as the clients’ needs change.

The online space has made it easy for brands and followers to interact. Take this opportunity to engage with your audience, address any concerns they have, and respond to any comments they leave. Whether on social media, online reviews, or via direct email correspondence, any communication between a client and a brand should be acknowledged and handled appropriately.

Welcome their feedback and implement their suggestions whenever possible. Remember that clients are the ones who choose whether they return or take their business elsewhere. By valuing their opinion and using it to better their experience, you are helping your brand develop a strong and trusted relationship with your clients and making them feel like their voice matters. 

A superior customer experience keeps a business running, and companies cannot afford to provide anything less. The internet has made customers aware of what is available and has provided them with plenty of alternatives. Putting customers first is the only way for brands to develop a good reputation, and ultimately this is what will put them ahead of the competition. Become a trusted brand amongst your followers, and they will offer you one of the greatest gifts - their loyalty. Customer Experience Strategy and Implementation Services