Creating positive, enjoyable and personal journeys for your customers will make you money.
Fantastic customer experiences create the one outcome that all businesses really want, but can never talk about. The same as every business on the planet; to make as much money as possible for their stakeholders. Every activity a business undertakes will have been subject to the same question somewhere along the line, ‘does it generate more revenue, reduce my costs, or both of the above?’.
If the answer to that question isn’t positive, why would you make the investment?
Profit from experience
Sales and profitability can disappear at any point due to a number of factors, so the customer experience is in fact, crucial. Unless businesses strive to build an exceptional experience around their brands, they can risk losing the all-important loyalty of their customers, which can then be translated into measurable commercial value. Customers value having trusted, human relationships within business and they are willing to pay a premium price for that trust.
If you’re saving money or some extra time at the expense of the customer experience, it’ll backfire and you’ll find it harder to please customers and retain profitability.
Have more profitable conversations
Improving the customer experience drives revenue through encouraging upsell opportunities, decreasing customer churn and increasing customer advocacy. Customers who have had a good experience are more likely to become brand advocates and will recommend your business to others, impacting your bottom-line sales. Providing the right tools, development, and giving transparency with important customer data gives employees ownership of their projects, therefore increasing efficiency and revenue.
Managing Director, Babble Contact