Customer Experience

Customer experience is the product of an interaction between an organization and a customer over the duration of their relationship. This interaction includes a customer’s attraction, awareness, discovery, cultivation, advocacy and purchase and use of a service. It is measured by the individual’s experience during all points of contact against the individual’s expectations. So why is one’s customer experience important, a positive experience can improve customer loyalty and increase sales/revenue.

1.)    Improve customer satisfaction

Word of mouth marketing can either increase sales or destroy your business. Customers that have good experiences will tell a few people, but customers that have a bad experience are more likely to spread the word that much more.

2.)    Fosters repeat customers and customer loyalty

Creating an experience that truly impresses customers and exceeds expectations ensures that they will want to continue doing business with one’s brand.

3.)    Increases customer advocacy and referrals

When a company sets a high customer service expectation the interaction creates an experience that customers remember and continue to share for years to come.

4.)    Reduces customer churn

An Accenture global customer satisfaction report from 2008, found that price is not the main reason for customer churn; churn is actually a result of poor quality of customer service.

5.)    Creates a competitive advantage

The customer experience offers the perfect platform to differentiate your product or service from one’s competitors. Now, instead of a customer comparing and basing purchases on price alone, they will factor in service and the experience in which they take part.