According to a Walker Information study, customer
experience will overtake price and product as the primary brand differentiator
by 2020.
Most businesses nowadays can get away with being
average, but an average business produces average-like results. Only companies
that go above and beyond to exceed customer expectations are able to create
returning customers who return more frequently and share their experience with
others. Customers nowadays expect user-friendly, knowledgeable service from
their service providers, which is why customer experience has become a strong
differentiator among businesses of all sizes.
Customer service is more than just helping customers
and doing the bare minimum, and we all know that it is far easier to lose a
customer than it is to gain one. Customer expectations, as the term is commonly
used, refer to what your customers expect from your company in terms of
products and services.
Conducting surveys and focusing on feedback, using a Net
Promoter Score or another model, are two methods for determining what your
customers want. Monitoring other companies in the market, i.e. your
competition, to see what your target customers are responding to, both
positively and negatively, is an important step to consider.
According to research conducted by the Institute of
Customer Service, a 10% increase in a company's customer satisfaction score
leads to a 12% increase in customer trust.
Obviously, failing to meet customer expectations can
have disastrous consequences for your business. Whether your customer is
dissatisfied with the outcome of a recent service, is unsure about which
product or service to purchase, or is enraged by a recent customer service
experience, your solutions should be implemented in a way that makes customers
believe that their happiness is your priority.
Creating and maintaining a high level of customer
service, as well as exceeding customer expectations, is critical for any
business looking to succeed in its industry and gain a competitive advantage.
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