Positive Impact
July 31, 2016

Customer Experience: A Definition

The practice of going above and beyond for your customers, in hopes that meeting or exceeding their expectations will generate a positive impact on your business.”

So exactly what does a positive impact look like?

A great customer experience leads to increased revenue. Consider that 80% of US consumers would pay more for a product or service to ensure a superior customer experience.

A great customer experience leads to increased retention, lifetime values, and word of mouth. Research firm Forrester revealed that among retailers, customer experience accounts for 47% of loyalty, while price and value contribute only slightly to capturing consumer loyalty.

Positive Impact

Customer Experience as a Difference-Maker

Price, convenience, selection and other variables will always factor in why customers choose a brand, but quality of the experience is now a huge part of the decision-making process.

Competition is fierce because the marketplace is over-saturated. Goods and services are becoming commoditized. But customer experience – now there’s the space where brands can truly stand out in the minds of consumers.

Fortune 500 companies are even bringing in C-level leadership tasked with owning the customer experience, and most of these leaders collaborate with marketing. Collectively, they hope to shape and tailor every customer interaction with their brand.

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