The numbers speak for themselves. Prioritising customer experience and delivering a good end-to-end customer journey can and will positively impact your business and make it a key differentiator from your competitors.
It is no surprise that customer experience (CX) is becoming a priority for businesses that realise that retaining and growing their customer base goes beyond good customer service. With a more competitive marketplace and more brands to choose from, customers are demanding an excellent experience at every touchpoint as they engage with your brand or organisation, and they will quickly move on if their needs aren’t met or they feel that they aren’t valued. In fact, recent research by American Express found that 86% of customers were willing to pay more for a better experience.
As Forbes highlights: “Customer experience is today’s business benchmark.” Which means now, more than ever, it is essential that businesses put customers first.
Why CX is important for your business
1. Increase customer loyalty
When you wow your customers with an excellent customer journey, regardless of who they are engaging with in your organisation, you turn them into loyal customers who will not be tempted to take their business elsewhere. Retaining existing customers is at least five times more cost-effective than winning new ones –- which is why it is imperative that you provide and prioritise customer satisfaction.
Loyal customers also become your best brand ambassadors, recommending your services to their colleagues and associates.
2. Boost sales conversions
Just one bad experience can see customers taking their business elsewhere. When customers feel that you place them at the centre of your business, they feel an emotional connection to your brand and show their loyalty through ongoing support and by being open to new products and services your team offers them. According to Market Metrics, the success rate of selling to an existing customer is 60%-70%, while the success rate of selling to a new customer sits at around 5%-20%
The most effective way to prioritise your customer is to set out a CX strategy for your business, then underpin it by implementing an effective Customer Relationship Management (CRM) platform that allows you to manage and deliver an excellent customer experience – from your customers’ first contact with your brand right through to their conversion into loyal customers and beyond.
1Stream’s innovative omnichannel CRM platform is specifically designed to do just that and has helped transform organisations across various sectors in Southern Africa that are committed to building and maintaining meaningful connections with their customers.
1Stream’s CRM platform gathers all the information about your customers in one place, meaning every team member can easily access all past and ongoing engagements across all channels, including phone calls, messages, emails or chats. This means issues can be immediately addressed in an informed manner without customers having to repeat themselves. It also adds a personal touch to engagements, showing your customers that their business matters to you.
By gathering all customer data in one place, it enables you to analyse this information and develop a targeted strategy so that you cannot only meet, but anticipate, their needs – ultimately helping your sales team close more deals.
A successful CX strategy is only as effective as the CRM platform that underpins it. It is an essential tool for every member of your team to retain existing customers, win over new ones, and delight them every step of the way on their customer journey.
To find out more about our CRM platform and how it can set your business apart, visit www.1stream.co.za/1crm/