How to induce loyalty in your customers to support future growth
Customer experience is the sum-totality of how customers engage with your company, how they perceive your brand, and how satisfied they are with your interactions. Basically, customer experience is a reflection of how customers feel about your organization.
Customer experience can make or break your business. Companies that take a customer-centric approach and listen to their customers’ feedback perform better overall, but sadly CxM programs are often unsuccessful despite good intentions and great efforts - collecting data is fairly easy, but it is also easy to focus on the wrong metrics and hard to convert data into productive insights without the right tools.
The benefits of CxM, however, are more than worth the effort. Continually satisfying your customers’ needs and providing great experiences will induce loyalty in your customers. Loyal customers, also known as Promoters, are valuable to your company in several ways:
• They stay longer and purchase more
• They help identify improvements and opportunities
• They promote your company via word of mouth
• They cost less to serve in the first place
Detractors on the other hand have an even bigger negative effect on your reputation when having a bad experience.