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The rise of digital transformation has brought a much more informed customer base with higher expectations. Modern-day businesses must prioritize having a strong digital customer experience (CX) strategy as the key differentiator to woo their customers.
As per the Walker study, “Customer experience will overtake price and product as the key brand differentiator in coming years.”
A great CX strategy requires a customer-centric mindset and intensive planning. Having a sound digital experience strategy requires working across all business functions with an omnichannel approach in mind. Let us start with what it means, why is it important, and the best practices of how to improve customer experience.
Source: CSP
Customer experience (CX) strategy refers to the holistic perception of the experience of customers with your brand.
A great customer experience results from customer-brand and customer-customer interactions at touchpoints across all channels as they move through the various customer journey stages, from awareness, evaluation, and progress to purchase and post-purchase scenarios.
Each and every brand action impacts customer perception and their decision to retain your business or not. Thus, having great customer experience management is your key to success.
Source: stratmetrix
Having a well-designed customer experience management framework can have a significant impact on any business. The better experience your customers have, they are highly likely to give positive reviews and share with their circle of friends, while simultaneously reducing the friction of customer complaints.
The key benefits of increased customer experience are as follows:
A great customer experience happens when you create an organization that is aligned around the singular mission of delighting the customers. Excellent CX happens across all the customer touchpoints when they were “wowed” by an interaction with a business.
We need to train our employees on how to execute their tasks, and how to adhere to the company’s culture. Equally, it is vital to train them to ensure that they know what is expected of them when it comes to how their role impacts the customer experience.
The key elements that contribute to an amazing customer experience are:
The customer experience (CX) is a broader concept as compared to customer service. It applies across marketing, sales, support, and also operations functions. While happy customer service is all about delivering good service, it is just one part of the entire customer experience model. There are specific touchpoints in the whole experience, where a customer reports an issue and seeks assistance.
Whereas, customer experience is the overall perception of your customers based on the touchpoints throughout their journey. It includes each and every interaction customers have with your brand, whether it’s the moment they first hear about you or reach out to your support team for any query.
Keeping your customers happy should be one of the main goals of your customer experience strategy if you want to retain them. An Oracle survey showed that “60% of the participants didn’t mind paying more for better customer experience.” When you deliver great CX, you can turn them into your best brand advocates and also set business transformation examples.
Let us discuss customer experience best practices and also learn innovative ideas to increase the CX management strategy.
The key to making your brand stand out is to be indispensable to your consumers by understanding your consumers. If you have a deep understanding of what your consumer is looking for, what satisfies them, and what they value, you have a chance of turning their interest into true brand loyalty.
71% of companies that exceed their revenue and lead goals use buyer personas.
Gathering and segmenting data are great starting points in understanding the target audience. With the right efforts, you can apply a filter to ask overarching questions.
Handling these questions requires a concerted analytical effort, which helps businesses to design and implement an advanced customer experience strategy to achieve its goals.
Source: Red fern
It also helps to craft a buyer persona in order to personalize your marketing on a large scale by humanizing core target groups of your customer base. An Emarketer survey found that more than half of consumers expect companies’ offers to always be personalized.
Thus, understanding your target audience and mapping customer journeys to identify all touchpoints, channels, and moments in which a customer interacts with the brand helps to deliver great customer experiences.
Your customer experience strategy indicates your business goals and values! It is about how you want your customers to think about your brand. They must be clear on the fact how your brand handles the vital components that constitute your CX vision.
So, customer experience should be an integral part of your vision. It helps to bring out the best CX value. Customer experience value allows brands to recognize customers’ value at the point of contact and decide how to maximize that value through dynamic, personalized treatment to deliver the best experience possible and generate the maximum return on their efforts.
In the above context, developing a customer experience vision is a vital step to transforming the ways your business provides services to its customers. The vision outlines the principles to guide and inform the experience they deliver.
Creating a clear roadmap helps to serve as good ideas to enhance the customer experience across all the channels. It drives user engagement and delivers results for your business.
Building a strong team is all about people. The brands that deliver great customer experiences do so with purpose. They focus on building the best team by combining skills, influence, and knowledge. It proves to be an innovative idea to enhance CX.
A strong team is what makes a great customer experience. The teams need to work together to establish a great CX vision along with experience goals that align with business goals and are feasible within the existing technology platform.
Deploying the right systems and tools is one of the best practices on how to increase customer experience. By investing in proactive communication channels you can enhance customer communication and experience.
Choosing and implementing the right tools is important to encourage customers to have greater interaction with your brand. However, the end goal is to fulfill customer expectations and make them feel happy.
Brands focusing to increase customer experience should add on digital tools along with traditional ones to engage customers. Using specific tools also helps to respond timely, monitor customer behavior, and take proactive actions. They also help to handle customer complaints faster and provide effective solutions.
The tools that can play a lead role in your CX strategy are as follows:
REVE Chat is an excellent live chat platform that delivers real-time assistance to sales and support queries across multiple channels. Sign up with REVE Chat and boost your customer experience by offering excellent support 24×7.
The customer experience landscape redefined by Artificial Intelligence (AI). Chatbots can help businesses dramatically enhance their customer experience and achieve faster growth. Invespro says, “Chatbots can save up to 30% in customer support costs and can help businesses by speeding up response time and answering up to 80% FAQs”.
Implementing a chatbot plan is the best solution to handle simple customer queries on the first go. But when it comes to complex queries bots fail to answer, and it directs the conversation to the right human agent.
You can provide customers the best experience of both worlds, with the chatbot managing simple queries and human agents handling complex conversations.
How AI chatbots can boost customer experience?
FundsTiger ChatBOT launched a conversational BOT that can help customers to know more about Business Loans, Personal Loans as well as help a user file a Business/Personal Loan application in the course of these conversations.
The chatbot was a part of their customer experience design strategy. The simple messaging transforms into a rich personalized experience, enhancing ‘Natural Interface’ conversations for borrowers delivering real-time responses, and timely and relevant information for their credit financing needs. Thus making customer experience management successful.
Forrester says, “Companies are increasingly using customer analytics techniques like customer satisfaction analysis, customer engagement analysis, and customer journey analytics to understand and enhance the client experience.”
Measuring customer experience is vital for every business. It helps to understand how well your business is performing and customers’ perception of your products & services. 21% of companies have developed their own KPIs to track customer experience.
It is critical to measure CX systematically, comprehensively, and efficiently by using the right metrics in the customer journey.
The key customer experience (CX) metrics are as follows:
The key objective of every business is to please customers, satisfy their needs, and eventually keep them loyal to your brand. But how can you be sure that your efforts bring desired results?
If you do not figure out what your customers perceive about your brand, you will not be able to give them the best customer experience. Their feedback & opinions about the experience they have with your brand are helpful information that you can use to adjust your business to match their needs more accurately.
Incorporating feedback should be a vital part of customer experience strategy as they provide information about their experience with your brand. They also act as the best resources for improving customer experience and adjusting your actions to their needs.
How does valuing customer feedback help to increase customer experience (CX)?
Delivering great customer experience is all about perfectly balancing your strategy with the right tools. It’s also about having a mission statement for customer service. Additionally, brands have to create and measure satisfaction across every channel to help build relationships and stand out from the competition and set a perfect example of customer experience (CX) strategy.
Vodafone UK developed a graphical and interactive representation of its network performance to simplify the technical subject for customers.
What did they do?
The users can now register their email addresses with the system that sends an email to those registered after the issue is reported.
Significant results:
After facing its first billion-dollar loss, Australian Airlines Qantas streamlined its operations to turn things around and invested in new technology as a part of the customer experience strategy.
What did Qantas do?
Starting from flight booking to checking a bag, every aspect of a customer’s journey with Qantas has been enhanced. Its loyal customers advocate Qantas as the most trusted airline company in Australia and the best business airline for domestic travel.
Airbnb conducts a survey for its customers to map their overall customer experience.
It politely asks for customers’ opinions after their stay, giving them the space to decide whether they want to share their feedback or not.
The survey conducted by Airbnb had a significant increase in the number of bookings by 25%, just with their referral program alone.
Planning an effective customer experience strategy is about more than just ensuring your customers receive the products and services they desire in an efficient manner. Every business should realize the importance of keeping their customers happy and satisfied.
When you deliver an effective customer experience, it creates great value for both customers and businesses. REVE Chat is one the best live chat platform that helps businesses to create the same. Sign up with REVE Chat and explore the features that will empower your team to provide a great experience to clients.
The experience value created allows businesses to identify the customer value when they make a contact to decide how to maximize that value through personalized service to ensure maximum customer experience ROI.
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