It used to be that companies were competing for better products and services. Customers would look for zero defects and better product for their money. With all the Six Sigma and TQM mentality of the past four decades, having a product or service with zero defect is not a competitive advantage anymore, it is the minimum requirement by the customer. In the past two decades, many companies learned that the customer is actually not interested in the product or service but rather a viable solution to their problem. They have a problem of getting from point A to point B and due to their particular circumstances and constraints, they need a customizable solution to their need. Therefore, many industries even manufacturing tried to answer this need by competing to provide the best Solution to the customer. Not any more! As we have seen in the past few years and will see more in the future, the customers will pick and choose between all the perfect products and services based on the experience they had or are expecting to have with a particular brand or company. This is why understanding this evolution of product and services is important for new startups and small businesses entering the market.
What is Customer Experience?
Customer experience (CX) is defined by interactions between a customer and an organization throughout their business relationship. Interaction can include awareness, discovery, cultivation, advocacy, purchases, and service.
Customer experience is an integral part of Customer Relationship Management (CRM) and the reason why it’s important is that a customer who has a positive experience with a business is more likely to become a repeat and loyal customer.
In fact, a study by Oracle found that 74% of senior executives believe that customer experience impacts the willingness of a customer to be a loyal advocate. And the customer experience statistics don’t stop there. If you want your customers to stay loyal, you have to invest in their experience!
Ways to improve the customer experience
1. Create a customer experience strategy with customer-focused vision
2. Create Customer Persona Profiles and Connect Intellectually and Emotionally
3. Capture customer feedback with Post-interaction surveys in real time
5. Communicate this Culture with the Team and Cultivate its sincere and humble growth
5. Counterbalance Planet, People and Profit priorities for socially responsible, ethical and sustainable development