Great customer experience requires great efforts from a business in order to ensure that every stage of a customer journey is oriented the way customers want.
Customer experience is set by all the interactions customer encounters during all the stages from pre-purchase to consumption/post-purchase. Over time, customer experience has become a lot more crucial for business sustainability and long-term growth.
Customers expect a lot more from companies today, and why shouldn’t they set high expectations? Considering the competitive environment, customers have plenty of choices to choose from. For companies, customer experience has become more vital than ever before. In this article, we will have a closer look at customer experience and highlight key aspects around it.
What is Customer Experience?
In simple words, customer experience is the customer impression about your products/services after undergoing all the stages of the buyer’s journey including pre-purchase, consumption, and post-purchase.
The two key elements that set customer experience are products/services and people. For example, how much did they love using your products/services? How was their interaction with customer support?
Why Customer Experience is so Important Today?
The 21st century has become a lot more digitalized and technologically advanced. The digitalization of the business world has increased the customers’ brand selection capabilities, thereby triggering more competition. Today, you can quickly lose your customer with just one bad experience. Therefore, customer experience is very crucial to have sustainable business growth.
When you focus on a customer-centric approach and emphasis on customer experience:
- It increases customer retention rate.
- It brings more loyal customers, which mean more word-of-mouth marketing, recommendations, and positive rating.
- It impacts brand reputation.
- It gives a competitive edge.
In short, customer experience is as crucial as delivering best-in-class products/services.
What’s a Good & Bad Customer Experience?
Not every customer experience can be the same. A good customer experience means that customers were able to achieve the desired objectives they expected from the product/service in a hassle-free way. A good customer experience can be triggered with:
- Intuitive user-friendly product/service.
- Live customer support with minimal wait time.
- Transparent pricing structure.
- Setting realistic expectations about the product/service.
- Providing more value than expected.
On the other hand, a bad customer experience means that expectations of customers were not fulfilled or customers had to struggle in some stages of the customer journey. A bad customer experience can be triggered with:
- Less personalized experience.
- Long wait times.
- Unfriendly product/service design.
- Unfriendly customer support.
Customer Experience vs. Customer Service
Customer service is just one stage in the customer journey, while customer experience is a conclusive experience of the customer after undergoing all the stages. In more simple words, customer service is one element of customer experience where a customer makes some requests and gets assistance from a customer representative.
How to Measure Customer Experience?
There is no standard or single method to measure customer experience, but setting up some measurable indicators can help you evaluate customer experience over time. The following are some common metrics used to measure customer experience:
- Customer Effort Score (CES): CES surveys indicate how easy or complex it is for customers to interact with a product/service to accomplish a specific action.
- Net Promoter Score (NPS): NPS surveys reflect how much likely customers are going to recommend the product/service to follow colleagues.
- Customer Satisfaction Score (CSAT): CSAT surveys indicate the satisfaction level of customers from the product/service they received.
- Time to Resolution (TTR): TTR is an indicator of how much time customer service representatives take to resolve the issue of customers.
Wrapping Up Customer experience is undoubtedly a key indicator of the future growth and sustainability of any business. Therefore, closely look at all customer journey stages, take customer feedback, and analyze trends to ensure a great customer experience.