WHAT IS CUSTOMER EXPERIENCE & WHY IS IT IMPORTANT?
When was the last time you had a great experience as a customer...? Pretty sure you’d find it easier to remember a time where you were less than impressed, or worse still, completely dissatisfied. This is a customer experience, albeit not a good one.
If you’re anything like us, a great customer experience that leaves you feeling all warm and fuzzy really makes your day. You’re likely to tell your friends and family about it and ultimately this is the best referral that any business can receive - It’s free marketing!
Nothing beats word of mouth and the recommendation of your peers.
In addition, you’re more likely to stay loyal to that business as honestly, why would you go anywhere else...? They’re fulfilling all your needs!
This is customer retention and It’s crucial to business success.
Retaining customers is far cheaper than trying to acquire new ones, and, how about all those free referrals I mentioned, brilliant right!
This is why customer experience is so important. Happy customers are loyal and tell everyone how great you are. They bring in new and repeat business without you even lifting a finger!
Did you know?
- 93% of customers are more likely to repeat purchase with those who offer excellent customer experience.(HubSpot Research)
- Increasing customer retention by 5% increases profits by 25%-95%.(Harvard Business Review)
- Attracting new customers is 6-7 times more expensive than retaining current ones.(Kolsky)
- 89% of customers have switched to doing business with a competitor following a poor customer experience.(Harris Interactive)
- 40% of customers will recommend others not to frequent a business if they've had poor customer service from them.(Dimensional Research)