Customer experience is poised to become the single most important differentiator for businesses. Companies that invest in CX can potentially double revenues within three years, and 64% of customers are already looking at CX as the most important differentiator above product and price.
It’s crucial to understand what CX is and to develop a marketing strategy to meet and exceed customers’ expectations in that area.
CX goes beyond customer service
A common misconception is that customer experience is primarily connected to customer service. Interactions with customer service representatives are part of the experience of a customer, but the scope of CX is much wider.
CX is the sum of all the interactions a customer has with your brand. Those interactions begin when the customer first becomes aware of your business and the interactions that follow shape the overall customer experience.
Successful businesses use digital tools and data to shape CX since 75% of customers are more likely to make a purchase from a company that knows their name and uses their purchase history to make personalized recommendations. Applying segmentation, targeting and personalization strategies is a common approach to deliver a CX that is based on making customers feel valued and understood.
Emotional connections are another important aspect of customer experience. Creating successful touchpoints that allow customers to connect with a brand on an emotional level increases those customers’ lifetime value. A loyal customer spends on average ten times more than a new customer, which is why successful businesses emphasize experiences that result in loyalty and advocacy.
Improving CX with the help of a marketing firm
Delivering outstanding CX should be a priority, but working with that relatively new concept and transforming existing marketing strategies can be challenging. A seasoned marketing firm can help by focusing on several areas:
- Developing a strategy with an actionable plan.
- Creating a clear vision of what positive customer experience is based on market research.
- Identifying relevant emotional connections and touchpoints.
- Translating the project into a plan with measurable results.
- Finding current pain points and addressing them.
CX trends for 2020
More companies are embracing CX. In 2019, it has been a top priority and key focus of competition for 80% of companies. That percentage should keep increasing in 2020.
CX will become the key differentiator above product and price in purchase decisions, and businesses will more than likely adopt the following trends to deliver the kind of experiences customers expect:
- CRM software adoption isn’t new, but businesses will use those tools to develop highly segmented and personalized campaigns.
- We are currently in the early stages of AI adoption for marketing and customer service. That technology could become more common and play an important role in shaping CX through interactions with customers and personalization.
- The omnichannel experience will become more important than ever before, and businesses will have to deliver a consistent and delightful experience across all the channels they use.
- More businesses will focus on their employees and look for ways to improve their experience. Employee training and performance reviews will emphasize CX.
EagleONE offers comprehensive marketing solutions that drive the customer experience, enhance lead generation and get results. To get your customer experience pointed in the right direction, contact an EagleONE team member to learn more and get started today:
CEO Mike Hutzel | mike.hutzel@Eagle1group.com | 513-847-0410
CXO Jim Borum | jim.borum@Eagle1group.com | 513-847-0410