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How to Improve Company’s Customer Experience? – Guide
Improving the customer experience (CX) can have a big impact on your bottom line. In fact, a modest increase in customer experience results in an average increase in revenue of $823 million over three years for a company with $1 billion in annual revenue, according to the Temkin Group. Investing in CX can also reduce operating costs, such as service costs, according to Harvard Business Review. After all, unhappy customers are expensive. Check the following tips to improve the customer experience:
What is the customer experience?
The customer experience (also known as CX) is defined by the interactions and experiences your customer has with your company along the customer journey, from the first contact to a happy, loyal customer. CX is an integral part of Customer Relationship Management (CRM) and is important because a customer who has had a positive experience with a company is more likely to become a loyal and repeat customer.
According to a global Oracle CX study, 74% of senior executives believe that customer experience affects their willingness to be a loyal advocate. If you want your customers to remain loyal, you must invest in their experience!
Ways to improve the customer experience
Let’s look at seven ways to create a great customer experience strategy to help you improve customer satisfaction, reduce churn, and increase revenue—including examples.
Create a clear view of the customer experience
The first step in your customer experience strategy is to have a clear, customer-centric vision so you can communicate with your company. The easiest way to define this vision is to create a series of statements that will serve as guiding principles. For example, Zappos uses the core values of its family and those values are embedded in its culture; This includes impressing through service, being humble and accepting change.
Once implemented, these principles will guide the behavior of your organization. Every member of your team should know these principles by heart and should be incorporated into all areas of education and training.
Understand who your customers are
The next step in building these customer experience principles is to bring to life the different types of customers that your customer support teams will handle. If your company really wants to understand the needs and wants of customers, it needs to be able to connect and empathize with the situations your customers face.
One way to do this is to segment your customers and create personas (or customer profiles). Try to give each person a name and a personality. For example, Anne is 35 years old; She likes new technology and is tech savvy enough to follow a video tutorial herself, while John (42 years old) needs to be able to follow clear instructions on a website.
By creating personas, your customer support team can see who they are and understand them better. It’s also an important step towards becoming truly customer-centric.
Create an Emotional Connection with Your Customers
You’ve heard the phrase “it’s not what you say; is how you talk”?
Well, the best customer experiences are achieved when a member of your team creates an emotional connection with a customer.
One of the best examples of creating an emotional connection comes from Zappos:
A survey by the Journal of Consumer Research found that more than 50% of an experience is based on an emotion, as emotions shape the attitudes that drive decisions.
Customers become loyal because they are emotionally attached and remember how they feel when they use a product or service. A business that optimizes for emotional connection outperforms competitors by 85% in sales growth.
And, according to a recent Harvard Business Review study titled “The New Science of Customer Emotions,” emotionally engaged customers are:
Capture customer feedback in real time
How can you tell if you’re delivering a WOW customer experience?
You need to ask – ideally, by capturing real-time feedback.
Use live chat tools to have real-time conversations and when you’re done, send a message to follow up email to each customer using post-interaction surveys and similar customer experience tools.
Of course, it is possible to make active sales calls to customers in order to get more insightful feedback.
It’s also important to link customer feedback to a specific customer support agent, who shows each team member the difference they’re making to the business.
Use a quality framework for developing your team
By following the steps above, you now know what customers think about the quality of your service compared to the customer experience principles you’ve defined. The next step is to identify the training needs for each individual member of your customer support team.
Many organizations assess the quality of phone and email communication, however, a quality framework takes this assessment one step further, scheduling and tracking your teams’ development through coaching, eLearning and group training.
Act on regular employee feedback
Most organizations have an annual survey process where they capture general feedback from their staff; how engaged they are and the ability of companies to provide exceptional service.
But what happens in the 11 months between these research periods?
Normally, nothing happens. And this is where ongoing employee feedback can play a role, using tools that allow employees to share ideas about how to improve the customer experience and for managers to see how the team is feeling about the business.
Measure ROI by delivering a great customer experience
And finally, how do you know if all this investment in your teams, processes and technology is working and paying off?
The answer lies in the business results.
Measuring customer experience is one of the biggest challenges facing organizations, which is why many companies use the “Net Promoter Score” or NPS, which collects valuable information by asking a single direct question:
NPS, which was created by Rob Markey and Fred Reichheld at Bain and Company, is a highly suitable benchmark for a customer experience metric because many companies use it as a standard measure of customer experience. And the fact that it’s simple to implement and measure makes NPS a favorite among corporate boards and executive committees.
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