The importance of customer experience cannot be overstated. If you didn’t think customer experience (CX) is important or is a competitive edge over rival companies in the industry, think again—the numbers tell us CX is extremely important to customers and businesses alike.
Studies show that customers are willing to pay a higher price for products and services if they can enjoy a better customer experience. And smart companies are making customers a central focus in their business, ensuring an exceptional customer experience (for their customers) and an advantage over their competitors (for their business).
Customer service is not customer experience and customer experience is not customer service, but they are strongly connected.
Customer experience is the result of every interaction a customer has with your business. This includes their experience with your company with something as basic as answering the phone. It also includes the meetings you have with them and how they feel they were treated in these meetings. The products you choose for their remodeling product, the design, the experience with your designer, your responsiveness, the final budget, and the finished project — this is all part of the customer experience. Every interaction, including customer service, is part of the overall customer experience. So why is customer experience important for a business?
What can your company gain by providing exceptional customer experiences?
- Increased customer loyalty and brand advocacy
- Increased customer satisfaction
- Better word-of-mouth marketing
- Positive reviews and increased recommendations and referrals
- Increased customer retention
The benefits of providing exceptional customer experiences work hand-in-hand with the marketing and content you create to build your brand. It’s authentic and it is a direct result of happy customers.
If you are still not convinced, the numbers tell the story quite clearly.
The new priority for businesses this year
45.9% – Customer experience
33.6% – Product
20.5% – Price
Double your revenue within 36 months through CX initiatives
86% – buyers who are willing to pay more for a great customer experience
13% to 18% – the price premium customers are willing to pay for a great customer experience
49% – buyers who have made impulse purchases as a result of a more personalized customer experience
Customer behavior has changed this past year during the pandemic
2020 – became the year when customer experience surpassed price and product as a key brand differentiator
Proof that customer experience is a top priority today
88% – companies who are prioritizing their efforts in their first point of contact (phones, customer service, and contact centers)
66% – companies who now differentiate their company from their competitors through customer experience
36% – this was the percentage of companies who made customer experience a priority in 2010, a full increase of 30% more companies have changed their priorities a decade later
44% – companies who will increase their investment in customer experience initiatives, which leaves a tremendous amount of room for your company to surpass the competition
Your website and specifically, the mobile experience of your customers
52% – of all internet traffic is now conducted on a mobile device
57% – customers who will not recommend a business with a poor mobile website experience
50% – customers who will not visit a website again if the website is not mobile-friendly, even if they like the business
66% – customers feel their opinion of a brand changes negatively when they have a frustrating website experience
55% – customers who are less likely to engage with your company after an unsatisfying mobile website experience (and you will never know this fact!)
52% – customers who feel disappointed after a bad mobile website experience, even when they like the company
You may never know about your unhappy customers
1 in 26 – customers vocalize their unhappiness to the company about their negative feelings about their experience (which is an incredibly low number!)
72% – customers who share their great experience with your company with at least 6 people however…
13% – unhappy customers will share their negative experience with your company with 15 people or more
Placing importance on customer experience pays off
Customer experience is a factor you can control. The numbers tell the story! Efforts in this area of your business will pay off in the form of happy, loyal customers who will happily do business with you again (customer retention is far less expensive than customer acquisition), be your most vocal brand advocates, and will provide the best word-of-mouth marketing you could ever ask for. If you’re looking to take your kitchen and bath business to the next level, SEN Design Group can help you reach your goals. Make customer experience a priority in your business in 2021!