Customer experience (CX) represents the perceptions picked up by your customers while they are associated with your brand. A bad customer experience leads them to switch to another brand, which results in the loss of your revenue. When it comes down to revenue generation, it has been seen that there is only 5 to 7% probability of selling your services to prospects, while there are 60 to 70% chances to sell additional services to your existing customers.
This has direct implications on your revenue generation, brand loyalty, enhanced customer satisfaction and employee satisfaction. It also influences the financial health of your company in a positive way. Improve your customer experience by offering multiple support services such as website searches, mobile apps, and chatbots to stay ahead in the game. Customer experience acts as a new form of marketing tool, as it is easier to convince customers who already know, like and trust you. Let us look at some of the ways to strengthen your existing customer base to increase your revenue growth opportunities.
Don’t Keep Your Customers Waiting
Imagine a line of customers waiting to get train tickets and getting restless and there is only a single window available at the railway station. It is of utmost importance that you do not leave your customer unattended at the time of an urgent problem. In this age of state-of-the-art digital marketing solutions, you must be able to respond to their queries in the shortest time to defy any possibility of creating a negative image of your brand before them. An irritated customer can bring a bad name to your brand if they plan to speak about the delay in your service responses on social media platforms. Offer them maximum platforms of interactions such as emails, phone, online chat and even text. Monitor these channels regularly to revert quickly at all times as nothing would be worse than leaving your customers’ queries unanswered for days or longer.
Enhance your Interactive Behaviour
There are some companies that do not take necessary efforts towards initiating communication channels with their customers. Well, that wouldn’t be considered a wise decision in any way. You should always make continuous efforts towards offering remarkable customer service support. Stay one step ahead while responding to a query of customers by being creative, empathetic and compelling in your responses. Your data analyst would be able to provide a personalized experience to every customer with the integration of predictive analytics and customer context by using a cloud platform that ultimately results in augmentation of your brand revenue.
Calculate the Metrics
You can also enhance your customer experience by gauging it via metrics calculations that usually comprise the rate of turnovers, delivery time and employee satisfaction. There are two types of metrics that can be used to measure your brand performance in line with customer satisfaction.
Net promoter score (NPS) encourages customers to provide feedback regarding your brand performance, and it divides them into three categories – Promoters, Passives, and Detractors. Promoters incorporate the section of your loyal customers. Passives are those that can be easily attracted by other brands. Detractors are the section of unsatisfied customers. NPS formula subtracts the percentage of detractors from the percentage of promoters. Most brands remain on the single digit in the case of NPS, and the maximum score falls in the range of 50 to 80%.
Customer Effort Score (CES) only asks customers about the efforts that they had to put in while seeking a solution from your brand for their business problems. In a data that included 75000 customers across the industry verticals showed that 94% of customers who chose to pick ‘low efforts’ considered to buy again from their existing brand choice, and 88% that picked ‘high efforts’ didn’t show interest to do business with their existing brand choice again. Thus, there will be continuous innovations to identify the problematic areas to enable your brand to perform better on your customer’s expectations.
Build your Brand Advocacy
Nowadays, millennials trust third-party validation such as online reviews to develop a sense of trust in your brand firmly. Cater to this situation by involving your data specialists towards monitoring, controlling and influencing what people are saying about your brand on various social media platforms. You can initiate a feedback program, where customers are asked to speak about your service in return for rewards and recognition that empowers you to bring onwards the finest solution for your customers ahead of time. With the successful delivery of solutions to your customers with fast and personalized interactions, you would be able to build your brand advocacy to reaffirm their trust in your brand, get a large number of positive reviews and feedbacks and many revenue generation opportunities.
Initiate Campaigns for Your Existing Customers
Due to multiple constraints related to time and other work commitments, your customers could not pay much attention to your marketing methods. They tend to become unaware of the full circle of your brand support. Build awareness among your customers about the recent developments and innovations introduced in your services with the help of personalized campaigns. Update them with your latest offering to enhance your upselling opportunities to initiate a profitable sale. Bring to the table many customers focused marketing campaigns to encourage and motivate them to buy add-on products related to their business requirement.
Attract Customers with Continuous Innovations
Just remember that the key to retaining your customers is to move rapidly with the changing dynamics in digital marketing strategies. Excite your customers by offering new communication channels that promise to offer enhanced personalization and greater outreach by your brand. Be speedy and agile; incorporate fact-based insights received from analytics and voice-of-the-customer programs that provide quick support to customer queries and increase employees’ commitment towards providing instant solutions smartly that enables you to bring continuous innovations and improvements in your brand offerings. It wouldn’t be long that you start exceeding your revenue goals and exploring new business development opportunities for your brand.
To understand your customers, you need to get into their heads and see your brand from their perspective. It is customer’s perception comprising not just the rational experiences, but emotional that directly influences their minds in building their loyalties towards a particular brand. You must make efforts to initiate many customer engagement programs to stay close to your existing customers. By following the ways mentioned above, you would be able to surpass the challenges in your way to respond to your customers’ queries quickly. By being active support in times of your customer’s needs, you would be able to get maximum opportunities to increase your revenue.
Author Bio:
Being a senior business associate, Peter Davidson strives to help different brands and startups to make effective business decisions and plan effective business strategies. With years of rich domain expertise, he loves to share his views on the latest technologies and applications through his well-researched content pieces. Follow him on Google+ and Twitter.
