In today’s world, a customer is the nucleus around which the whole business revolves. A product or solution, no matter how ground-breaking, will be unable to survive if it doesn’t meet consumers’ expectations. In this consumer-centric economy, marketers are relentlessly trying to capture customers’ attention and improve their experiences with the brand so as to keep them coming back for more.
The customer revolution is powered by the influx of mobile devices which allows them to seek information, make purchases, and make recommendations all with the click of a button. The implication is that this is all shaping up to be a shopper driven revolution, with customers shopping online, in the store, on their mobile phones, and switching in between them without any concept of borders.
Companies now acknowledge the importance of providing a consistent experience at each of these touch-points for consumers; else they run the risk of losing them altogether at any of these interaction points. But it is important that while doing so marketers keep their customers in the center and develop a framework for enhancing their experience with the brand accordingly.
Why Is Superior Customer Service Important for Your Business?
There is a drastic shift in how customers conduct purchases, and it is time for marketers to adapt to this new customer buying journey. An international brand, Hunkemoller, reported that 70% of their customers visit their online channel to check their products and assortments before visiting their store to buy the chosen item. Orchestrating all the distribution channels to create a consistent and unique experience for customers is the key to marketing success in this multi-channel world.
Here are some of the reasons why:
Higher Revenues
According to a report on Customer Satisfaction by Oracle, even in today’s negative economy, customer experience is a high priority for consumers as 60% say they often or always pay more for a better experience.
Recurring Sales
It is estimated that companies make 90% of their revenue from 10% of their returning customers. Providing a unique experience to your customers each time ensures that they come back for more. Improved customer relevance and a seamless cross-channel experience will drive revenues.
Word-of-Mouth on Steroids
A good experience with a brand is communicated at super-high speeds on social media sites and review sites but what is communicated even faster is bad review. According to the White House, about 13% of dissatisfied customers tell more than 20 people. This form of negative publicity if consumers experience a distressing situation can spell doom for a company.
Loss of Customers to Competitors
Providing a disconnected experience to customers across channels will leave them feeling dissatisfied and eventually opting for competitors’ offerings. According to the RightNow Customer Experience Impact Report 2011, 89% of consumers began doing business with a competitor following a poor customer experience.
As today’s consumer is demanding and fickle, giving them the best experience possible has become a business fundamental, to achieve business success and a greater bottom line in the digital era.
