5 Benefits of Measuring Customer Experience For Your Online Business
What is the key ingredient to securing long-term success and stability for your online business?
While profit, satisfying levels of ROI, and a distinct x-factor to set your brand apart from competitors are all viable factors to sustain your business, these are all but second to the impact of customer experience.
The customer experience (CX) is defined as all components of a business or service that strikes and influences the customer’s perception of the brand as a whole. The outcome of dealing with customer inquiries or transactions may be positive or negative. Regardless, the impact of your product or service on your target audience can either make or break your business.
86% of customers are willing to pay a higher price for excellent CX
At the end of the day, what good is a unique product design or competitive pricing without a population of customers to cater to?
Entrepreneurs choose a particular venture as a result of their interests, background, or skill. Ultimately, their business model is built around the people they envision will purchase or sign up for their services.
Below is a guide to measuring customer experience to help you get a clearer understanding of why improving how your online business affects customers, in general, is paramount.
1. Aligns your sales & marketing strategies
Advertisements and sales pitches that merit unimpressive results are those that missed the mark in terms of capturing audience interest and needs. Tone-deaf ads, unclear marketing messages, confusing service information are all examples of this. Taking the time to listen in on what people are saying about your products and services is your first step to creating an effective campaign. What do they like the most about your brand? What are the biggest challenges they encounter when using your products? What emotions are often associated with your business?
2. Encourages word-of-mouth marketing
If there is a powerful and invaluable form of endorsement that you should covet, it must be word-of-mouth marketing. A single positive encounter with your business can introduce you to a potential network of loyal customers. Online businesses may thrive because of tech advancement, but the influence of personal recommendations remains unparalleled. People will still favor the opinions and experiences of family and friends more than the proven success of any influencer-reviewed or celebrity-endorsed brand.
Word-of-mouth marketing is free! Imagine completing a transaction with a customer who finds your services beyond satisfactory. That same customer then shares their experience with their peers and relatives, the majority of whom are convinced to check out your business website or social media page. In a matter of seconds, you were able to reach multiple prospects without spending a dime.
3. Asserts brand credibility
More than increased profit, underscoring customer trust and affirming your business’s reliability is a long-term win. Credibility encompasses time and generations of potential buyers. It is the characteristic that will carry your business for years to come. It will set the bar for competitors and succeeding entrepreneurs who wish to follow in your footsteps.
When more people are satisfied with your products, you are portraying consistency in quality and value for money. Preserving a good reputation is tough for businesses, especially at a time when customers are tech-savvy and quick to bandwagon on anything that trends. Does a customer complain about poor customer service on a fast-food chain? The claim could trend overnight and put the restaurant under fire. Unless the business has a clean and impressive track record to counter the claim, the complaint overshadows its hard-earned reputation.
4. Offers a comprehensive benchmark for improvement
Customer experience is a reflection of how close you are to reaching your objectives. It also serves as a constructive form of showing how else you can improve your services. Say, customers constantly complain about the slow page load time on your products page. Or, some customers claim that certain features on your website are inoperative.
Are customers made to wait in long queues when they contact your customer support? Perhaps it is time to adopt a multichannel customer service hotline. Are customers unhappy with how their concerns are handled? It may indicate the need to train your support representatives better. Do you find that your products are frequently compared to that of your competitors’? Review your product’s design and features to identify any striking similarities it may have with existing brands in the market. You can use their feedback as accurate references on areas that need fixing and augmenting to ensure you meet customer expectations at all times.
5. Enhances B2C relationship
CX unveils the people who comprise your target audience. Hence, keeping a close eye on their overall experience with your business allows you to get to know them better. Whether it is through answering their queries, presenting your products through paid ads, completing a sale, or even allowing potential customers to browse your website, your encounter with them will always leave something to ponder. Moreover, it bridges the gap between your business and your audience, a gradual but steady sign of progress.
How to measure customer experience
There are multiple ways to measure CX, including:
• Customer satisfaction surveys to give customers a chance to rate their experience with your service or products
• A/B testing to compare two different versions of your eCommerce website or app to a select number of customers
• Customer support KPIs to gauge the proficiency level of your help desk staff and the effectiveness of your assistance
• A review section on your social media page and website to garner authentic, firsthand feedback
• Net Promoter Score (NPS) or the question, “On a scale of 1-x, how likely are you to recommend [brand] to your family, friends, or colleagues?”
If you are a relatively new name in the industry, you will want to build up a favorable reputation on your target buyers. Even more so when your business has already gained traction and is already doing fairly well. Remember, every encounter with a prospect or existing customer is an opportunity to secure success.