"Why
Customer Experience is so Important?"
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C |
ustomer
experience is the impression your customers have of your brand as a whole
throughout all aspects of the buyer's journey. We all have some great and bad experiences as a customer. Think
about the last time you had a really great experience as a customer. Surely you
want to experience that greatness again or you already have. But you don't want
to experience the bad experience again which you've experienced as a customer
last time.
A positive customer experience promotes loyalty, helps you retain customers and encourages
brand advocacy. Customers are the best resource for growing a brand awareness in
a positive way. Customer experience is the key to exceeding customer’s
satisfaction. A totally satisfied customer contributes 2.6 times as much
revenue as a somewhat satisfied customer. And 14 times as much as revenue as a somewhat
dissatisfied customer.
Companies across the world have an average customer satisfaction rate of 86%.
88%
of consumers read reviews to determine the quality of a business's customer
experience. Let’s talk about some successful companies as for examples.
Zara, the largest company in the Inditex Group and world's largest apparel retailer. Zara
manages up to 20 clothing collection within a year. They spends 0.3 % money in
advertisement where other retailers spends 3.5% money in advertisement.(info
from medium.com)Still they
managed to be one of the biggest clothing brands in the world.How do they do
that? They apply customer pull strategy by providing great customer experience.
Fast product design and supply within 2 weeks all over the world, limited
edition of same design product and providing lots of options to purchase with
different design of products are the key of attracting customers to their
business.
McDonald’s, one of the most popular fast food company in the world. They provide great customer
experience with least time. Within the time of moving from one counter to
another the order of their customer is ready. Also, they provide some unique
taste which makes a good number of customers. I would like to give an example
of a small fast food restaurant in my area named 'Cafe orchid'. I've seen this
restaurant form the beginning. Starting a small business and growing it into a
well known fast food restaurant in the neighborhood. They started their food
service with the accommodation capacity of 11-12 people. With their delicious
food (specially burgers) at a reasonable price and quick-well behaved service
they've earned a good reputation within 1 year. Now they have a well furnished
restaurant at the same spot with the capacity of 50-55 people. I've seen them
earning their little success by satisfying customers’ expectation.
As
Jerry Gregoire, CIO at Dell says,
"the customer experience is the next competitive battleground.” A positive
customer experience is crucial to the success of your business because a happy
customer is one who is likely to become a loyal customer who can help you boost
revenue.
Sifat Ahmed
Session: 2019-20
Department of Human
Resource Management
