Delivering a good Customer Experience is all the buzz lately. It's discussed in all fields of business and is the topic of many a staff meeting and board of director's meeting. But is there really a good understanding of what it is all about? The benefits of designing and crafting a good experience are vague to some teams. So, why, other than it seems to be the latest business "should do" are we striving for that good experience?
Increased Profits
Let's face it, when you create an experience that your customer truly enjoys – they'll pay you for it. Are you aware that 70% of your lost customers left ONLY because the experience provided by someone on your team was lacking? Someone treated them rudely, with indifference, or just merely pushed them through the system in your company? It has nothing to do with the product or service you provide or the price you charge.
Customers are willing to pay more for a product or service that they fully realize is not the best available simply because they know they will receive better treatment and customer service. Are you prepared to continue to lose customers and revenue dollars by continuing with business as normal?
Customer Engagement
Engaged customers are your best customers. These are the ones that view you and your business as partners and a resource for their needs. People do business with those that they know, like, and trust. By providing a good customer experience each and every time they do business with you, your customers will become more and more engaged with your business. They'll know what to expect and be pleasantly impressed when they feel that you are actively working with them to solve their problems.
They'll trust you. They'll share their ideas with you and give you candid feedback as to what it will take to keep their business. They'll share with you what they want to see you provide and what they really don't care for in the way you do business. When you've gained the trust of your customers by working in their best interest, you've know taken the relationship to the next level.
Customer Loyalty
When you give your customers the memorable experience they are craving, they'll return to you time and time again and you'll become their sole resource for the product or service you provide. Today's consumer wants to find a resource they can stay with over a long period of time. With the instant gratification gains in today's fast moving world, they don't want to waste time and energy shopping around. They want to find a business that values them, their business, and will do whatever it takes to gain their repeat business. As soon as today's customer finds that, they will stay loyal for as long as that business is willing to create the experience that centers around them and works to earn their business time after time after time.
Customer loyalty is really another word for continued revenue stream. Suppose you are the owner of a local grocery store and I walk in your doors and spend $ 100 per week in your store. Do you see me as just a $100 customer, or the customer that could spend $ 400 per month, $ 5000 per year? Or, to take it to a reasonable long term loyalty example… If I live in the same neighborhood that is close to your store for 20 years, you stand to earn $ 5000 for each of those 20 years. Now I'm a $100,000 customer. If you treat me well, smile at me, show me where the products are that I need, engage in small talk while I'm making my purchase, and thank me for my business, chances are I'll return to your store again.
It All Comes Full Circle
When you create that experience that is different than what your competition delivers, people notice. When you create that experience that is BETTER than what your competition delivers, customers will come back for more. They'll pay you to treat them well and make them feel good. They'll trust you and engage with your company and team. You won't be viewed as a commodity provider, but as a partner with a relationship that is working to make the lives of your customers easier and better by solving their problems. They'll reward you by not even thinking of going anywhere else and giving you their loyalty for as long as you are willing to work to keep it.
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Stephen Hodgkiss
Chief Engineer at MarketHive
markethive.com
Alan Zibluk – Markethive Founding Member