Maximise your ROI on Customer experience through these tips from industry leaders

3 Tips from Industry leaders to Maximise your ROI on Customer Experience

Written by: Kushal Dev | Co-founder, Customer Guru

Customer experience is the new brand.

You may have heard this quite a few times but it’s a fact you cannot ignore. Apple had reached 75% of profit share at 9% of market share of smartphones. All of this built on the principles of premium customer experience.

There is lot to learn from Apple and a lot more on having the right attitude to positive customer experience. Are you ready to revamp your customer experience yet? If not, read this story sighted in Don Pepper’s blog.  . It goes like this

“A man was visiting his farmer friend one weekend, and as the two of them sat in rocking chairs on the front porch the visitor couldn’t help but notice a pig hobbling around the barnyard with a wooden leg. How remarkable! So, he asked his host, what’s the story on that pig with a wooden leg there?

Oh, the farmer replied, that’s my pig Winslow. Winslow is one terrific pig. We had a barn fire about a year ago and believe it or not, Winslow went into the barn and dragged my two-year-old son Jimmy out by the scruff of his neck. Probably saved Jimmy’s life.

So, the visitor surmised. Winslow must have injured his leg in the fire?

No, the farmer said, but when you have something that good, you only want to eat it a little at a time.”

A lot of businesses today are generating their profits by eating their own customers a little at a time. Change that attitude and the results will be mind boggling. Not everyone can achieve what Apple did, or are we limited by our thoughts?

Shoot for the stars and who knows you may land on the moon!

Break the cycle of analysis, quarterly reviews and making customer experience a marketing gimmick. Listen to your customers proactively. Help them understand how your product/service helps them and how they can use it effectively for maximum impact and returns. Have a great customer onboarding process in place. Welcome packages and short, precise, readily available information for customers goes a long way. Read these amazing tips on being proactive with Customer Experience. It makes the life of your customers easy and reduces the number of complaints. Observe historical trends on your customer communication to predict the areas you need to focus on. Communicate effectively to set the expectation right for your customers and reduce the number of surprises.

An identified problem is any day better than a bad surprise

Here are the top 3 benefits industry leaders have experienced with positive customer experience. Take the right steps and experience it for yourself.

Increased staff productivity

A recent study by Temkin group revealed that companies with superior customer experience have almost 2.5 as many engaged employees as do companies that lag in customer experience. Your staff shifts from firefighting customer issues to making strategic decisions to improve your processes and quality. Not only are they a satisfied lot but a lot more productive. Read this to see how It works in a cycle and builds the right culture in your organisation.

Lower cost of customer acquisition

It costs 6–7 times more to acquire a new customer than retain an existing one – Bain & Company. Start serving your existing customers well and they will buy more and complain less. It’s also important to note that 91% of customers who get unhappy simply leave and never come back.

You are the one who benefits

Based on the way companies react to customer feedback has a massive impact on the spending of customers. Industry leaders have seen that if you move from a very poor to very good on the scale of managing your customer issues then it increases the customer who increased spending from 2% to 29% and decreases the customers who reduce spending from 62% to 21%. Their loyal customers tend to buy more from them and forgive them if they make a mistake.

Reach Kushal at kushal@customerguru.in