Why the customer experience should be prioritised in your business.
A lot of focus is placed on your outbound marketing. It is, after all, the channel that brings new customers in, and therefore increases your sales. Because of this, most businesses are set up to focus on nurturing new leads and turning them into customers. Whether this be through their social media, website, or sales team.
However, there is one major group of people often ignored. They spend 33% more than new customers, and capturing a 10% increase in the number of these people lifts a businesses value by 30%. You can probably guess that I am talking about your existing customers. They are a huge base of people, ready to be sold to again. So, what can we do to bring them back?
What is customer experience?
Customer experience is all about the experience your customers have with your brand. It is like a new marketing channel. You are reaching out to your existing customers throughout their time with your business and bringing them back for a conversion.
Having a great customer experience is all about overdelivering on customer expectations to create a memorable experience. This experience creates a tighter bond between your brand and your customers.
Good customer experience doesn’t start and end at the checkout. It goes beyond into the way you follow up on the purchase, the way the product is packaged, and how good your after-purchase support is.
Why does customer experience need to be prioritised?
We mentioned some quick statistics earlier in this article as to why you should prioritise customer experience. Repeat customers spend 33% more than new customers, and an increase by 10% in repeat customers increases a business’ value by 30%. But it goes beyond this. Often investing in customer experience has one of the highest ROI in all of your marketing efforts.
Why is this? Well, the aforementioned statistic, where your sales from these customers are likely to be 30% higher is one reason. But there is more. Repeat customers are easier to recapture. They have already said yes to you once, they are already open to purchasing your products or services. Providing them a great experience simply increases the chances of an already red-hot lead purchasing from you again.
Further from this, if you provide these customers with a great experience, they are more likely to recommend your business to their friends and family. At this point they become brand ambassadors, spreading their love of your business to others. You didn’t have to pay them to do this, all you had to do was provide a great experience. Imagine if half your customers told one or two people about your business and how much they loved it, and those two people then made a purchase from your business. The cycle then repeats. That’s a lot of potential sales growing organically.
How to improve your customer experience
Look at some of the businesses you have purchased from, and then have gone back and purchased from them again, specifically those you love. What about their business made you love the experience so much you purchased from them again? Was it their packaging, their customer service, or the way they followed up with you after purchases?
Often you will find that improving your customer experience is all about some simple tweaks. If you have a powerful brand, extend those brand values you have created across all aspects of your business. What do those values look like in packaging form, or how do they translate into your customer service?
When it comes to improving the customer experience, many different businesses have a very different or unique set of challenges. Many of our examples touched only on eCommerce, but what if your business is service based? There are many powerful strategies which can be employed to create an incredible, on brand, customer experience across any industry. If you need help improving your business’ customer experience come have a chat with our branding experts.