Businesses across the world are investing in enhancing their CX. Research has shown that in a world of intense competition, customer experience programs will become the key differentiator amongst competitors.
A great Customer experience strategy can increase customer loyalty, reduce churn, and drive up the revenue – after all, loyal customers are likely to spend 67% more than new customers.
To top it off, recent studies have found that nearly 98% customers leave because of bad experiences with a brand. So, if you aren’t already investing in building a strong customer experience strategy, it’s time you begin!
8 Key Elements of an Excellent CX Strategy
There are certain key elements that you need to consider when it comes to building the right CX for your enterprise:
The CX Vision
First things first, you can’t develop a CX strategy without having your end goal in mind.
So, begin by developing a CX vision for your company. It is something you can share with employees to give them a clear idea of your goals.
You can do this using various statements that help your employees understand your core values and embody them to deliver a superior experience.
For example, ‘Be humble’; ‘Embrace change’; ‘Always prioritize the customer’.
These then act as guiding principles for all customer interactions.
Identifying Customer Personas
Get to know your customers. A great way to do this would be by identifying the key customer personas.
Understanding them will help your customer support team deliver the best experience.
Moreover, doing a deep-dive into your customers will also reveal what appeals to them and what may be hindering their relationship with your company. Once you know this, you know just what your strategy needs to address.
Creating an emotional connect is often key to retaining customers – and who doesn’t want a loyal customer base?
Loyal customers are 3 times more likely to recommend your product as well as repurchase. And when customers love your brand, they are less likely to shop around.
For this reason, it’s essential that your brand and employees go the extra mile to emotionally connect with your customers. Make exceptions when the time calls for it. Show empathy. It will go a long way.
After all, we tend to make decisions based on our emotions.
Charting Customer Journey
The customer journey map will help you identify your customers’ thoughts, experiences, and perceptions at every stage. It will give you an insight into what the consumer goes through, right from being introduced to your brand to either extending their relationship or leaving.
In doing so, you get a better understanding of the process from the perspective of both – the consumer and the organization. This enables you to identify the benefits, pain-points, and gaps in the process to ultimately deliver a better CX.
Getting Real-Time Feedback
The best feedback you get will be immediately after an interaction.
So automate the feedback surveys immediately after key interactions – whether it’s following a customer support call or after making a purchase. Ask them what they thought of the service, and how it could be improved.
Most customers that leave you after a bad experience don’t even tell you why. When you give them the option of immediate feedback, they have the perfect outlet to register a complaint or say your praise.
Additionally, with this in place you can immediately address the cause of the negativity, or at least send them an apology and hope to do better.
Doing so shows customers you care and can also often reverse the damage done by a negative interaction!
Moreover, tying customer feedback – especially the positive ones – to specific employees can boost team morale and incentivize people to deliver better experiences.
Ensuring Regular Employee Feedback
The best CX strategies are never complete without incorporating EX. Employees are the face of your company, and to ensure that they show empathy to your customers, you need to equip them with the right productivity tools.
Understand their perspective and show them that you care. Only when they know that you have their back will they be able to put their best foot forward.
Moreover, regular employee feedback can also reveal newer insights and ideas that customer-facing staff may have to improve customer experiences. This will also give managers an idea of the workforce pulse.
Bridging the Gap
The best CX strategies will help you bridge the gap between customer expectations and company capabilities.
This is usually done by identifying pain points and consumer service gaps which are then confronted with a realistic approach of what the company can deliver, thereby reducing negative experiences.
Measuring the CX Difference
Is it real if it isn’t measured?
Once you have your customer experience strategy up and running, it’s time to see the difference it made. In order to keep getting feedback to improve your CX as well as understand how it has helped, it’s essential to measure it with right customer experience software.
Most companies use NPS or Net Promoter Score software.
Having tangible results keeps the workforce motivated while also giving you a realistic perspective on the difference it has made for your organization, helping you invest strategically in improving your customer experiences.
The best CX strategies are the ones that align the company objectives with their customer expectations, optimizing positive experiences to deliver superior value throughout the end-to-end customer lifecycle.