What is CX and why is it important?

The sure-fire way to increase your business revenue is to exceed your customers’ expectations. This is the goal of every successful business; to retain its customers in the long run.

In layman’s terms, customer experience, also known as “CX”, is how you can measure how satisfied your customers are when they engage with your business.

Whether you’re a brick and mortar business or an online brand, businesses of all sizes, and in every industry are striving to push their CX in order to stay relevant in their respective fields.

New tech such as VR and AR products are improving product functionality and how businesses respond to their audience. The spending on AR (Augmented Reality) technology was estimated to hit $60 billion in 2020 alone, as it’s already transforming how customers interact with businesses. This is a clear indicator of how managing CX is crucial to future-proofing a business.

The Importance of CX

Customers form a perception of a company whenever they interact with it. It could be in the form of an experience so impressive they continue to engage with the brand on social media or a negative experience that could see a significant impact on sales; as the customer switches to a competitor.

According to Help Scout, nearly 65% of consumers consider the customer experience to be more important than the price of the product or service. Your CX is what builds your customers perception of your business, and that could be the difference between building or losing your loyal customers.

Increase your ROI

Being able to provide excellent customer service will result in providing an increased ROI. Instead of planning outdated marketing strategies, you can focus on the optimal customer journey that provides value, brand recognition and ultimately, brand loyalty to your business.

This focuses on the wants and needs of your target market, going way beyond their expectations and building advocates of your business that want to market your services on your behalf.

Build Brand Advocacy

We are at the beginning of a new age of community marketing. Brand Advocacy is when your customers talk about the quality of your product or services. This is where CX is key, as their experience, good or bad, will be shared.

Whether it’s through word of mouth or via digital platforms, their perceptions of your company will be exchanged, and it’s an ideal opportunity to ensure every experience with your business is a brilliant one.