Advantages of a Great Customer Experience in Economic Downturn
Think Of Great Customer Experience as a Competitive advantage
Customer experience is one of the greatest fronts for innovation, and with the current economic condition we are in, the importance of retaining a customer and an enriching customer experience cannot be stressed more.
Whether you are into retail landscape, automotive industry, Hospitality sector or into IT consulting what matters the most is the customer experience. Lot of industry leaders today say that with the product that you sell, the one thing that you are truly selling to your customer or client is the experience or service that comes bundled with your product.
One cannot stop pressing on the unending benefits that a Great Customer experience brings with it. Here are some of the key benefits of having a great Customer Experience:
Customer Experience as your Selling Point:
World Class customer experiences are still so novel that, when you have one, you talk about it , while you let your customer experience it. This is kind of viral marketing which creates buzz in the marketplace and generates more revenue than traditional marketing.
A stable existing customer base makes it easier to increase both top and bottom line growth. Lot of retail stores and hotel chains today are getting their revenues from their returning customers.
Value for Money
Customers will happily pay more for an experience that is not only functionally but emotionally rewarding. Companies skilled at releasing the emotional issues and building products and services around them always increase their profit margins.
Customers as your Supporters
Happy customers are like ‘Brand Ambassadors’ or ‘Representatives’ to the company. A happy customer is actually like a sales person, always telling good things and advertising about your company to their peers and thus helps you in building a strong brand identity in the market all around.
You not only get your recurring business from your customers but could easily resell your new products to them with very little effort. A history of great and constant positive customer increases the chance that a new product gets chosen over its competitors.