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 1Stream’s CRM platform and how it can set your
business apart, visit www.1stream.co.za
