As CX experts, we’ve assembled a list of the most relevant questions to ask (and answer) about customer experience to ensure you understand what it is all about.
Q. What is Customer Experience?
A. Customer experience (also known as CX) refers to the overall impression your customers have of your brand throughout the buyer’s journey. It has an impact on their perception of your brand and factors that affect your bottom line, such as revenue.
It is the stimulus that a company produces for the senses of its customers; this means that your brand can monitor the incentives that are provided to the customers’ senses, controlling the customers’ reaction as a result of the stimulation process, resulting in improved customer acquisition as anticipated by the company.
Q. Why is CX so important?
A. A remarkable customer experience is important for any company’s long-term success. A good customer experience fosters engagement, aids in customer retention, and encourages brand advocacy.
Customers have a wide range of choices at their fingertips, as well as the tools they need to educate themselves and make independent purchases. This is why it’s important to give consumers a memorable experience and inspire them to do business with you again — they must receive a consistently favorable experience to not consider switching to another brand or solution.
Q. What elements of CX are most crucial?
A. The first step for any company is to learn what their customers expect from their brand, product, or service. Many factors must be considered in order to accomplish this. The following are some of the most important elements of a successful CX strategy:
- Customer Journey Mapping. To frame the experience from their perspective, businesses must understand the experiences customers have at each touchpoint of their journey.
- Paying attention. Businesses must listen to their customers; requesting and reporting real-time feedback will assist in identifying and prioritizing what needs to be improved.
- Cross-functional collaboration. The entire organization must be aware of its impact on the customer experience. There should be one common goal for all business units and departments: to provide the best possible customer experience.
- Communication. Customers expect original stories that have a positive impact on their lives and go beyond the obvious. Businesses should always work to establish brand trust, and interaction and communication are big determinants in building a positive reputation.
Q. Is CX the same as Customer Service?
A. No. Customer service is only a small part of the overall customer experience. CX is about understanding how customers feel and act every time they interact with a business, whereas Customer Service is solely focused on human interaction and directly supporting customers.
Customer service is still important, but it isn’t the only focus of the customer experience any longer.
Q. How do I calculate the ROI of CX improvements?
A. Measuring and optimizing customer experience efforts is an essential part of the process. There are many ways to calculate the ROI: businesses can choose to metric what is most impacted by CX, such as revenue, customer retention, and customer satisfaction (Net Promoter Score®, Customer Satisfaction Score, and Customer Effort Score are the most commonly used).
Calculating the ROI of CX can be difficult because changes can be costly and time-consuming to execute. However, companies must ensure that their measurements are aligned and used to determine if their decisions were right or should be refocused.
Q. What role does digital play in enhancing CX?
A. Every day, the number of digital interactions between brands and consumers grows. While the medium has evolved, the basic principle has remained the same: customer experience is all about fulfilling customers’ expectations and increasing their satisfaction. Today, the difference is that in order to truly improve customer experience, businesses must be accessible across all digital platforms.
Written by KingEclient