Last chance: Identify pain points in your CX or bleed customers in 2020
CUSTOMERS hate bad experiences and companies that don’t identify pain points and address the issues successfully are bound to see it significantly impact business in the coming year.
According to a recent global study involving 20,736 customers in 19 countries in North America, Europe, Asia, South America, and Africa, those who had a frustrating shopping experience are three times more likely than satisfied consumers to not buy from the retailer or brand again.
For companies still figuring out what it means to ‘go digital’ and offering temporary, poorly designed, transitionary customer experiences (CX) could result in the permanent loss of customers.
On the other hand, the survey revealed that companies that consistently exceed customer expectations could significantly increase revenues by charging a premium for the experience.
Unfortunately, of the total customers surveyed, 42 percent (8,757 customers) said that their most recent shopping experience didn’t meet their expectations or they found any aspect of the shopping experience frustrating.
“Despite digital technologies fueling an explosion in opportunities to engage and interact with consumers throughout their browsing and shopping experience, many retailers and brands still struggle to deliver a seamless experience across the integrated marketplace,” said Accenture Consumer Goods and Services Senior MD Laura Gurski.
“Meeting or exceeding expectations call for a complete rethink, all the way from developing new concepts through manufacturing to the store shelf and beyond. And with so many consumers willing to pay more for an experience that exceeds expectations, there’s a potential pot of gold for those that get it right.”
According to the numbers, customers in China were much more likely to pay a premium for a better experience as compared to customers in the US or the UK.
So, how can an enterprise design a CX strategy that will yield the right results and help retain customers in 2020? Here are some pointers:
# 1 | Create a clear CX vision
It is crucial for enterprises to have a clear vision that is focused on customers. This vision could simply be a set of statements that can be used as a guide for the entire company to adhere to.
With proper communication, these set of principles should be embedded into the company’s culture, which will then drive the behavior of the entire workforce and all areas of operations.
# 2 | Establish a connection with customers
Companies wanting to deliver positive CX has to understand the need and wants of the customer that they are serving, which means the customer support team has to connect and empathize with consumers.
Further, the customer support team has to establish emotional connections with customers as emotions shape attitudes which in turn influence decisions.
Once customers become emotionally attached to a company’s product, they will become loyal and more likely to make a repeat purchase, and recommend the company to others.
# 3 | Capture customer feedback in real-time
To find out if the current strategy is working and if the company is on track to reaching its set CX goals, companies need to get customer feedback in real-time.
Generally, post-transaction surveys and other customer experience tools can be deployed automatically to obtain reviews, which then can be used to assess and restructure the gameplan if need be.
# 4 | Use a quality framework for team development
With customer feedback, it is not hard to gauge the consumer perception of the company’s product and CX performances. And accordingly, companies then could identify the areas that need improvements, so that more resources could be allocated towards that.
But this assessment and subsequent action plan for improvement must be based on a robust and proven framework that includes tracking of KPIs and team development via training, coaching and third-party online platforms.
# 5 | Act upon regular employee feedback
Employee feedback is also crucial in delivering CX. However, this feedback must be collected more frequently for continual improvements as well as identifying hurdles and challenges.
Beyond that, companies have to foster an environment where ideas and knowledge sharing is encouraged and eliminate information silos.
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