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What’s the #1 thing customers care about when dealing with a brand? Is it: A) prices B) delivery methods C) product selection D) ease of ordering E) payment options F) stellar customer support G) All of the above If you chose G, then you’re on the right track. When you tie these all together, you have what’s called a great customer experience. And guess what — if you can excel at this, you have a high potential of turning customers into loyal fans. Unfortunately, B2C companies are struggling with this (some of which don’t even know it!). Let’s review why customer experience is so important and what it takes to make yours excellent. Why a Great Customer Experience is a Must-Have According to a report by Acquia, a good customer experience is a driving factor for success. Roughly 72% of consumers say they’re loyal to certain brands, but a single…
In today’s world, if you want to be competitive, you not only need the best products or services, you also need the best customer experience strategy.
Companies that focus on and exceed in customer experience outperform their competition by almost 80%.
Customer service can make or break the life cycle of a customer. When your service is good, you are far more likely to see a long relationship with your customers. But how does a business measure its customer service? There are many metrics with which to gauge the success of your business – Net Profit Margin, Monthly Recurring Revenue (MRR), Net Promoter Score, and Customer Acquisition Cost (CAC). While these are all important metrics to consider, in today’s market, one is becoming far more important. Customer Lifetime Value According to Hubspot, customer lifetime value is “one of the most important metrics to measure at any growing company.” Forbes goes even further, and has called CLV “the only metric that matters.” Before analyzing CLV, one must first understand the customer lifecycle. The Six Stages of the Customer Lifecycle The goal of every business is to convert visitors into paying customers. Another…
We’re living in a world where consumer expectations are rising. According to a PWC study, 1 in 3 customers will switch businesses after a single negative experience. This consumer switching is estimated to cost U.S businesses about $136.8 billion per year. To keep up with the rising demand for better customer experiences, more businesses are now paying attention to customer feedback. And a useful tool used by these customer-centric organizations to collect and make sense of customer feedback is the net promoter score or NPS. In this article, we’ll explain what NPS is, how to calculate it, and how you can make the most of it improve customer experience in your business. What is NPS? The net promoter score (NPS) is a customer experience metric that measures customer loyalty and satisfaction. It’s gotten by asking customers a single question: “On a scale from 0 to 10, how likely are you…