Are you a company that provides the sort of customer experiences that keep people coming back?
Here are the reasons why business leaders should begin investing into experiences or go the way of Blockbuster.
Recent research from Forrester found that:
- Only 29% of brands in Asia Pacific can say they are experience-driven businesses. Not nearly enough companies are putting customer experience at the core of their businesses.
- Brands focused on CX achieve an annual growth rate of 23%, compared with 13% for non-CX-driven organisations.
- Businesses focused on customer experience enjoy more than twice as much return on ad spend and a doubling of their customer lifetime value.
A great customer experience is much broader than great customer service.
Beyond Customer Service
- A great customer experience is much broader than great customer service.
- Customer experience extends across all stages of the customer life cycle and engagement of a brand.
- Understand the full-cycle cycle of your engagement with a customer to appreciate what the experience is that they are looking for.
- Every touch point has to be fully tailored, the experience has to be personalised for each individual.
- An experience is about identifying the intersection between your brand and how the customer wants to engage with your organisation and brand.
- “A research shows that 80% of businesses think they are delivering a great customer experience but the reality is that only 8% of customers think they’re getting a great experience.
Source: A commissioned study conducted by Forrester Consulting on behalf of Adobe.