Why businesses should care about customer experience

Why businesses should care about customer experience

Bad customer service experience, such as speaking with a rude staff or receiving a damaged item, can push away customers and negatively impact a company's bottom line. Negative word of mouth can also give the company a bad reputation.

As a business, it's imperative that you satisfy customers as they are the lifeblood of your success. If you treat them well, they are likely to come back and patronize your business again. Exceptional customer experience is appreciated and remembered — or even bragged about. This is why stellar customer service should be on top of your priorities.

What is customer experience?

Simply put, it’s how customers perceive their interactions with your business. The goal is to create a consistently enjoyable and efficient buyer’s journey from the customer’s point of view. All touchpoints must be relevant and pleasant for the consumer so that they meet — or even exceed — customer expectations.

In turn, great customer service brings in the following benefits:

Revenue

According to UK firm Infoquest, a delighted customer contributes as much as 14 times revenue than a somewhat dissatisfied customer. If a customer is satisfied with their transaction with your business, they are likely to become a regular who’s willing to spend money on your business’s products or services.

A happy customer will also promote your business to their friends or family through word-of-mouth marketing, potentially bringing in more customers without you spending a dime on marketing. This, in turn, will allow you to save costs on promotional campaigns.

And in a pandemic-stricken economy, cost-saving strategies can help organizations increase their revenue and enable them to get back on their feet more quickly.

Loyalty

Acquiring a new customer is five times more expensive than retaining a current one. While it’s beneficial to recruit new customers, the bulk of your marketing resources should be spent on retaining the people who already trust your business. One of the best ways to do this is by consistently delivering a positive customer experience.

A positive experience encourages customers to do repeat business or purchases with your company. This repeated engagement can be taken as an indication of trust and loyalty, and you can even deepen their support by launching loyalty programs in which they get points or rewards with every transaction. This loyalty program in itself can make the customer experience even more remarkable.

Competitive advantage

It’s getting more and more difficult for a business to stand out among its competitors. One way you can differentiate your business from the rest of the pack is by taking your customer experience to the next level.

With about 96% of consumers no longer trusting in advertisements, word of mouth is a business’s best bet in gaining people’s trust. The buying public looks to third-party validation, such as reviews, before they purchase something or sign up for a service. If they see previous customers praising your company for a smooth transaction or commending your team for going beyond expectations to deliver upon your promises, they are more likely to choose your company over your competitors. Customer advocacy might just be what gives you a competitive advantage.

Better IT for better customer experience

A website that doesn’t load within two seconds, an unreachable phone number, or unresponsive customer support can be frustrating to a customer. These technology hiccups may even cause you to lose a sale.

It’s critical that you have the right IT tools and solutions in place to reach out and be reached by your customers. This is where SpectrumWise solutions can help. As a leading business technology specialist, we provide reliable IT services, business phone systems, and data security so you can deliver an exceptional experience to your customers every step of the buying process.

Learn more about our services by calling us at 704-703-9859 or by sending us a message.