An American Express study found that 60% of customers are willing to pay more for a better experience.
In another study, Temkin Group found that companies that earn $1 billion annually can expect to earn, on average, an additional $700 million within 36 months of investing in customer experience.
In short, companies that implement a customer success strategy achieve higher customer satisfaction rates, reduced customer churn, and increased revenues.
But what leads to a better customer experience? And what role do customer success and marketing play?
It All Starts With The Customer Journey
Doing whatever it takes to make a customer successful is every customer success team’s mantra. But not all leads convert to customers. So what do you do with the prospects who don’t end up purchasing?
To improve metrics like retention and advocacy, businesses must look beyond customer success and understand each of the touchpoints in the customer journey.
Understanding why that happens and discussing possible issues and solutions with the marketing team is critical.
The marketing team is usually focused on customer acquisition. This means the customer success team can gain valuable insight into brand awareness and user expectations from them if they work closely together.
Customer experience can further be improved if you understand how people find your business and what you need to do to lead them up to a sale.
The customer journey is affected by every facet of a business, so it’s imperative that companies not focus on a single department when it comes to customer experience. To gain a complete picture of the customer experience, they need to consider the unique perspective of each of their internal departments.
Customer experience begins long before someone becomes your customer. Often, it begins even before they hear about your company. Every contact along the customer journey has an impact on a customer’s perception of a brand.
Customer Success Is A Team Effort
Although the Voice of Customer (VOC) is important for offering the best customer experience possible, it doesn’t reveal the whole picture.
To get a 360-degree view on customer experience, you need to also consider the Voice of Employees and Voice of Partners.
Employee NPS (Net Promoter Score) has a strong correlation with customer NPS. A study found that “employee promoters power strong business performance because they provide better experiences for customers, and come up with creative and innovative ideas for product, process, and service improvements”.
Therefore, improving employee engagement has a positive effect on multiple customer journey touchpoints.
How To Improve Customer Experience
“A satisfied customer is the best business strategy of all.” - Michael LeBoeuf
Going above and beyond gets you far. With the right customer experience strategy, businesses can boost customer lifetime value and increase customer satisfaction and revenue.
Here are a few strategies businesses can employ to improve customer experience:
Fixing Problems Before They Even Happen
By staying one step ahead, brands are able to proactively solve problems and create a seamless experience for the customer. But this wouldn’t be possible if teams didn’t work together to find out what these problems are in the first place.
For example, if you notice a segment of your customers is not as engaged as it used to be, you can launch an e-mail campaign to re-engage them.
Staying proactive will enable you to pull customers back to you before they have a chance to think about leaving you.
Pleasantly Surprising Users
E-mail marketing is still one of the most powerful tools marketers have at their disposal, and it’s especially effective when it comes to re-engaging users.
But no matter how much you’re trying to personalize your e-mails, you might still end up harassing people by reaching out to them when they’re not thinking about you. So relying only on e-mail marketing is not the best strategy.
Instead, you can add in-app messages and notifications to the mix. They are more relevant, timely, and effective than e-mail marketing, so they provide a more enjoyable customer experience.
Gathering Feedback In Real-Time
Anticipating all the problems customers might encounter is not impossible, but difficult. The next best thing brands can do is solving issues as soon as they happen.
Implementing live-chat tools and sending follow-up e-mails with post-interaction surveys are two effective strategies to gather customer feedback in real-time and keep customers away from bad experiences.
Customer experience provides brands with the opportunity to create loyal customers. It’s an area that needs constant nurturing and care but has a positive impact on customer loyalty, retention rate, and revenue.
Improving customer experience begins with being proactive and gathering insight from all stakeholders to get a complete picture of the customer journey, and then using that insight to meet prospects at every step along their way.