Delivering Customer Experiences that deliver Value

[JasonBrown]

In any field, there are people who ‘claim’ to be good and then there are those that are actually good. The same holds true for businesses. You might think that your business is delivering great experiences to customers, but are customers actually finding value in it? Also, is your business able to measure tangible value from it?

By value, I mean more referrals, repeat business, higher revenue, and greater profitability. It’s something tangible you can extract from your CX program to derive insights and learnings from. It tells you if you’re actually doing the right things, whether the initiatives you take impact the customer as well as your business in a positive way and also cut down on investments that aren’t delivering the expected returns.

Why is this important?

Merely investing in a Customer Experience Management tool doesn’t suffice. When you’re investing in CX, it’s because you want to improve customer loyalty, retention, and ultimately be successful as a brand in the long run. To get started in that journey, mapping your initiatives with outcomes is a pre-requisite.

Not a lot of companies are doing that. 80% of companies say they deliver “superior” customer service while only 8% of people think these same companies deliver “superior” customer service.

Getting started with a Customer Experience strategy is generally never a problem for brands. Customer experience professionals are then assigned the task of launching initiatives designed to delight customers and make their experiences more effortless. But often they fail to quantify the financial impacts of these initiatives.
https://cloudcherry.com/blog/delivering ... ver-value/

[nehagupta]

I completely agree with you. Good customer experience can lead to higher profitability which in turn provide growth to a business. Nowadays, businesses are more focusing on customer experience.