Customer Experience Vs. Product & Price: What’s More Important?
Is Customer Experience a connection to achieve customer loyalty, more profits and better satisfaction rates?
This doesn’t mean that companies should stop concentrating on high-quality products. Rather, they should pay more attention to this new battleground and start combining high-quality products with equally high-quality customer experiences. The real power of growing your store is in the hands of your customer!
Customer experience is how your clients perceive their interactions with your company.
What makes Customer Experience so important?
Today, shopping transformed into something new. It is not a need-based activity anymore, but rather a chance for some new experiences. In fact, experiences are one of the main reasons why clients keep visiting physical stores instead of shopping online.
If that reason is not enough for you to start investing in customer experience, then let us show you the additional benefits that it brings to your store!
- Customer loyalty
Customer Experience plays an important role when it comes to customer loyalty. One of the main reasons behind losing customers is not the price or quality of the product, but poor customer service. If you’ve been ignoring your customer service department, it’s about time you change your mind.
For this, you should organize your business in a way that focuses on the needs of your customers. As we already mentioned, one of the main motivators for visiting stores is the experience itself.
- Increased profit
Another reason why organizations focus on customer experience is profitability. Yes, customer experience costs money, in the form of additional staff, technological innovation, time dedication, etc. but the outcome not only pays off but gives businesses extra value.
This is a proven fact: Clients admit that for having better experiences they are willing to pay more!
- Higher engagement with the brand
Statistics show how important experiences are for customers. Hence, improving the customer experience at your store will guarantee a positive promotion from your customers that cost you nothing!
A customer that is satisfied after getting their problem resolved will promote their positive experience to 4-6 other people. With the help of customer experience, your business will gain positive word-of-mouth as well as valuable feedback on social media.
67% of people make a purchase with a business after being recommended on social media like Facebook or Twitter. But do not forget that the true value of customer satisfaction lies beyond monetary incentives. It gives you and helps you retain loyal customers. Customers will be your ambassadors and supporters!
How to enhance Customer Experience at your store?
1. Understand the real value of customer service
Since customer experience is all about the customer, you should always follow your new customer preferences and trends. Using your visitor’s insights for understanding the true value of your store and the drawbacks that need improvement.
2. Identify your customers
Every improvement should be done with your customer in mind. The true protagonists of your business are your clients. You need to understand who they are and what their preferences are to optimize your services and offer accordingly.
3. Create a customer journey map
To understand and better visualize the processes that your customer goes through when visiting your store, consider creating a customer journey map. This will help you:
- Determine customer touchpoints with your business.
- Reveal the experiences that they value the most.
- Show you whether your business goals are aligned with customer needs.
- Assist you in improving and enhancing customer experience.
- Interact with customers
Emotions are the building block of positive experiences. To build and strengthen emotions, you need to interact with your customers. A simple hello or goodbye, while a nice thought, is simply not enough anymore.
Be willing to go the extra mile to build an emotional bond between your business and your customers. Emotionally engaged customers are more loyal, have higher lifetime value and are more willing to continue with the new purchase.
- Constant improvement
Make sure to keep an eye on your customer feedback, be it online or in real-life interactions.
Always try to identify the aspects that your customers like the most and the ones they don’t. This way, you will be able to focus on your strengths while minimizing the impact of your weaknesses.
Customer experience should always be a work in progress. The ideas of what is and isn’t a good experience change rapidly, and the quicker you adjust to these changes, the better the outcome you will yield.
Product and Price VS. Customer Experience: And the winner is…
You can scream “Copout!” all you like, but the idea behind this article wasn’t to figure out a clear winner. To focus only on one ingredient of your store’s success is to spoil the entire dish.
Only by integrating all the main aspects of your business and focusing on their improvement will you be able to achieve success.