Positive Impact
July 31, 2016

Customer Experience: A Definition

A great customer experience leads to Increased Retention, Lifetime Values, and Word of Mouth.

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.

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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Q:

Why couldn’t the lifeguard save the hippie?

A:

Because he was too far out man.