Just about every organisation wants to last into the future. Business owners and employees need to fund your retirement. Charities must continue to support their causes. Public Sector bodies have to do more with less while demonstrating value for money. If you provide a poor customer experience, you probably won’t succeed. I say probably as we have all heard horror stories of business that treat their customers with disrespect, if not dishonesty, and somehow stay in business. I would argue that the internet gives such businesses nowhere to hide.
So, compelling customer experiences are central to a sustainable, robust business model and a poor experience will, eventually, guarantee failure. Here are just 12 of the ways a poor customer experience could impact your business performance today.
Of course, we are human; we don’t focus on the long term all that well, not when we can gain in the short term. We need to appreciate the more immediate benefits of a compelling customer experience. In the simplest of terms, they come in the form of business growth and cost reduction.
If your customer experience is poor, then you may have a lot of customer service staff just to address issues. This expenditure is a necessity, and you can argue it boosts sales. But, if your customer experience is compelling, then your customer service team can become part of your income-generating operations. The same people can be onboarding, delivering or developing new products and services. So you can handle higher numbers of customers during the value-adding phases of your work.
You can also eliminate other costs. For example, if you sell products, you can minimise returns. That reduces the cost of logistics, distributor charges, handling and disposal. If you are developing a new product or service, then using the voice of the customer can help you both decrease the number of in-service modifications and lengthen life cycles. As an additional benefit, you will spend less money selling to happy customers than recruiting new ones.