How Customer Experience Drives Business Growth

Contact center staff can prove to be a key factor in taking the business to new levels, building a position of a brand as well as strengthening customer relationships. Customer experience is a major element when driving revenue growth and profit growth are concerned. It is the new prime element of business and marketing strategy.

There are many studies that show that marketing executives have taken significant steps regarding providing superior customer experience (CX). These steps may include fast shipping services, free returns, bundles services, low price and ease of use. These steps resulted in significant growth of potential customers as well as enhanced engagement of the current ones.

Important of Customer Experience in business

The latest trends of business only follow the mantra of customer experience. The reason behind it is the level at which it has become important to the business of any industry. A superior business growth clearly identifies the satisfaction of their customers as well as a differentiated experience regarding buying and selling of goods or services. It is important to know about its importance in a more detailed manner rather than following the crowd. It will help in developing new ideas and gaining a sense of position and reputation in the market.

Customer experience ensures the sustainable growth of a business. It brings qualities in customers like loyalty and affinity. It makes the customers talk about the product or service and refer it to their friends and close ones. If the website consists of positive customer reviews, it helps the business to gain revenue and earn new potential customers.

Nowadays, customers matter more than ever before. The powers of business have totally transmitted into the hands of the customers. This has happened because of the internet and social media platforms. Customers have varied options, greater ease of switching power as well as more power to influence the success or downfall of any business. They are one of the best resources which can be used to grow brand awareness in a positive way. This is because the reviews given by customers to their friends and family are way more reliable than individual marketing or advertising channels.

Measurement of customer experience

There are many ways through which one can measure customer experience. These are:

The customer experience team can work on analyzing customer satisfaction. This can be done with the help of conducting surveys, generating questionnaires and asking for feedback. These processes can be used on a regular basis to find out the quality of customers’ journeys and their experiences about the products or services.
Another way is finding out the rate and reasons behind fluctuating customers. Churns occur when business tends to experience change. Even if the business remains constant, churn can also happen due to a change in market trends as well as economic shifts. It is important to make sure to observe whether the churn rate is increasing or decreasing. The marketing team must take suitable actions in order to maintain a good rate of churn. It will help to lose current customers as well as increase customer experience.
The company can ask customers to request new products or services. A forum can also be created where customers are allowed to put requests for new features or offerings. This will help the company in evolving new ideas and solve problems that occurred in the previous ones. It also gives a sense of authority to customers to decide what they want from the company. This will involve both R&D development for research purposes.
A regular practice that may be used to create a positive customer experience digs into the tickets which the customer team is going through every day. There can be recurring issues which can give problematic experience to the customers over an extended period of time. They can also make a better effort to resolve the issues. This can be done by clearing the in-app or product instructions or giving explainer videos or articles or tweaking the products to make processes easier.

This is how customer experience can be measured as well as data can be collected in the form of databases or reports.

How to improve Customer Experience?

There are various steps that can be followed to enhance the customer experience. Below are some of them:

Giving customers a reliable knowledge base

In addition, to provide readily available customer information, the customer experience team should be ready to provide curated information and answers. This helps in winning the trust of customers and understanding the situations in a better way. It is important to be sure that the piece of information shared with the customers is correct and up-to-date. Otherwise, it can result in legal troubles or disinterest in customers. Spreading incorrect or old information only for the sake of maintaining a knowledge base may result in the loss of users.

Empowering customers

It is essential to ensure that agents have the power to exercise judgment so that they can provide the customers with useful resolution. If the staff is trained, supported and rewarded well, they have the power to build huge resolutions to the company. But on the other hand, they must abide by the rules and regulations of the company so that no rule is violated and prevention from legal issues can also be done at the same time.

Productive interactions, solving queries and making decisions will improve the confidence levels of workers can make them able to prosper more. This is beneficial to the staff as well as the company itself along with the customers interacting with them.

Implementing a systematic flow of information

Customer care services have huge databases regarding information which can prove extremely beneficial to share customer experience management as well as has the ability to fix issues. A system to loop customer intelligence and bridge the gap between contact centers and other areas involved in this landscape can be established. This may include a marketing team, web development team and so on. A monthly or quarterly report can maintain transparency and keep the connection alive between the two departments of every company.

Measuring the right KPIs and sharing results afterward

Contact centers or customer cares are basically concerned with metrics related to production such as the number of calls handled per hour, average handling time as well as abandon rates. There are some KPIs which are of the utmost importance when it comes to improving customer experience and dealing directly with customers are:

First call resolution: The first call resolution or FCR is directly used in customer satisfaction rating. It has numerous benefits such as lower costs, less customer churn, higher employee satisfaction and so on.
Contact quality: This can be assessed when the officials are able to monitor and record agent interactions with customers. They can also rate these interactions against defined evaluation criteria to improve their business.
Customer satisfaction: This is measured through IVR, text, email or chat surveys. Companies can also call to connect directly with the customers and know about the level of satisfaction.

Today’s era is the era of customers. Therefore, it is important to give the topmost priority to them to attain success in business.