The customer experience has topped both product and price as a brand differentiator over the past few years. For customers, a positive customer experience improves their overall shopping experience and connects them to the brand.
What does it do for your business?
Investing in customer experience initiatives has the potential to double your revenue within 36 months. Why? Because your customers are willing to spend more if that means they have a great customer experience while shopping with you.
At Saw.com we strive to help you be seen online and create an unforgettable experience for your customers. When you buy a domain and build a website, expect to see your credibility as a business improve, along with SEO, customer trust, marketability, revenue and more.
Let’s cover the benefits of great customer service and why you should invest in the customer experience.
What Does The Customer Experience Mean?
The customer experience, also referred to as CX, is essentially your customer’s perception of how your business treats them. CX represents each aspect of what your company offers customers. This, of course, includes the quality of how you treat customers. However, it also includes advertising, packaging, product and/or service, reliability, etc.
When your customers walk away after purchasing your product feeling positive and valued as a customer, you know they had a great customer experience.
Why You Should Invest in The Customer Experience
Regardless of what industry you are in, the customer experience has proven time and time again to have a positive impact on your company. Here is why you should invest in CX:
1. Customer Satisfaction
The most obvious reason to invest in the customer experience? Your customer will be happy.
Treating your customers well, and going above and beyond for them, is an unmatched shopping experience. When your customers feel valued and leave your shop with a smile on their face, they will remember you. (And keep coming back).
2. Customer Retention
Did you know: Acquiring a new customer costs 7 times more than maintaining an existing one.
A positive customer service experience directly correlates with brand loyalty. When you give a new customer an unforgettable experience, they will want to continue shopping with you in the future. Take the time to invest in your existing customers, and you will have loyal customers for life.
3. Increase Revenue
No one wants to spend money with a company that treats them poorly.
And as we said earlier – the customer experience has topped both product and price as a brand differentiator. Customers who receive good customer service are truly willing to spend more for it. Sometimes, regardless of the price.
Another great way to increase brand loyalty, and revenue, is by offering various loyalty programs. This gives loyal customers exclusive deals and reminds them to always be looking out for your alerts and new products!
4. Brand Credibility
In addition to building a meaningful relationship with your customers, CX also increases your brand credibility.
If customers shop with you and rave about your amazing employees and shopping experience, expect positive customer reviews, and for their family and friends to start coming in! CX that sets you apart from your competitors establishes you as a professional brand that also values their customers.
5. Poor CX Leads To Unhappy Customers
Customer expectations are currently at an all time high. If you do not offer customers a positive CX, they will be unhappy.
Your unhappy customers could leave a negative review, or share their experience with those close to them. 72% of customers will share a positive customer experience with at least 6 or more people. However, if a customer is not happy, 13% of them will share their experience with 15 or more.
More Customer Experience Stats
Still on the fence about investing in the customer experience? Here are some recent stats to change your mind:
- There is an 80% increase in revenue for businesses that focus on improving customer experience
- 73% of customers agree that customer experience helps to drive their buying decision.
- 86% of customers say that they are ready to pay more if it means getting a better customer experience.
- 72% of customers will share a positive customer experience with at least 6 or more people. Meanwhile, if a customer is not happy, 13% of them will share their experience with 15 or more.
At Saw.com, we love domains and everything they encompass. With over twenty years of experience in the industry, we have made it our mission to help companies and organizations understand digital assets’ role in the ever-changing internet landscape, every step of the way. We specialize in domain acquisition, appraisal, company naming, branding, brand protection, portfolio management services and more.
No matter the nature, stage, or size of your company, we believe in helping you be seen online and we pride ourselves in our transparency through the entire process. If you are interested in speaking with an expert from our domain brokerage service about buying a domain, contact us! Our domain brokers would love to speak with you.