Customer experience encompasses everything the customer appreciates about the brand, ranging from, quick delivery, a friendly customer service personnel or a cup of coffee while the customer waits to be attended to.
Customer experience is becoming increasingly important, but a lot of businesses do not understand the importance of customer experience. Good customer experience creates business value. Customers want to engage with brands that are empathetic to their needs, they want brands that meet or exceed expectations.
One major issue is that businesses still view customer experience in terms of product and price, this approach could prove ineffectual says Arihant Jain, head of business for MEA at Freshworks because it fails to differentiate the business from the millions out there that are doing the same thing.
Many businesses blame price pressure for destroying their margins and market share. But price and function are no longer the most important buying factors for consumers. These are merely a means for customers to get what they really want, which is a business benefit,” says Jain. The business benefit along with how the customer perceives the business,creates value for the business. All these combined actually create tangible and delightful customer experiences.
Customer experience encompasses everything the customer appreciates about the brand, ranging from, quick delivery, a friendly customer service personnel or a cup of coffee while the customer waits to be attended to, every interaction the customer has with the brand and it’s product helps the customer form an opinion of the brand.
Overall Value Beats Price
A study showed that by 2020, customer experience would be the key factor that separates brands, overtaking price and product. Customer experience isn’t just something that gives businesses an edge anymore, it has become a necessity for businesses who want to stay above board. Businesses will need to create an emotional connection with their customers.
Businesses who engineer ‘customer experience’, are less likely feel price pressures from their competition. The business could decide to re-imagine the user experience, product design, merchandising or the overall brand story.
In-depth study and research on the customers is usually a good place to start, looking into their interests to understand them better, this will inform the business of the experiences the customers want.
The tools for creating better customer experiences are already within reach. Businesses only need to formulate more creative and informed strategies.