How customer experience impacts brand loyalty
How customer experience impacts brand loyalty
The way we interact with brands has changed significantly in recent years and the traditional promise of a good product, a good price, and good customer service no longer guarantee loyalty. These core ingredients have become a minimum expectation, on top of which people want engaging omnichannel interaction driven by digital convenience. Now is the time for retailers to invest in developing their customer experience (CX) ecosystem, with communication a crucial part of its potential.
- 80% of customers say the experience a company provides is as important as its products and services (Salesforce).
- 65 % find a positive experience with a brand to be more influential than great advertising (PwC).
- Omnichannel strategies generate an 80% higher rate of incremental store visits by consumers (Think with Google).
There are several areas of opportunity retailers can leverage to build loyalty in a customer experience economy.
Be where the customer is
Retail trends have always moved fast, especially since the dawn of e-commerce, but we’ve never seen such a sudden shift in digital transformation as in the last few years. Online interaction has become part of everyday life in our post-pandemic world, elevating expectations for a seamless journey across multiple channels. This scenario has put a lot of pressure on retailers. And that’s why an omnichannel approach is vital.
There are over 30 digital channels that people communicate with today and everyone has their preferred ones for browsing and buying. Taking social commerce, for example, excitement is generated on Facebook and Instagram before buyers are directed to a social checkout function or a website for purchase. Messaging apps are increasingly being used as a tool to complete sales, while bricks and mortar stores are also innovating to deliver immersive experiences and easier ways of moving between the physical and online worlds. It’s about understanding people’s preferred routes, ensuring consistency, and minimizing friction at each touchpoint so that all elements work together. Unifying the different channels and back-end systems via a single customer engagement platform provides valuable insights into customer behavior and allows you to support buyers at each stage of the relationship.
The future is conversational
Traditionally, communications flowed one way from the business to the consumer. Today, two-way dialogue is taking center stage. One of the most effective ways of elevating engagement is by introducing conversational channels. These are the channels through which stakeholders and organizations interact via messaging or voice. Some of the most common conversational channels include WhatsApp, Messenger, Web chat, and Amazon Alexa.
Modern consumers have switched off from an overload of inbound marketing communications, not hesitating to ignore a notification. On the other hand, they have zero tolerance for digital inconvenience or delay, expecting an immediate response when they reach out. Conversational channels enable you to initiate an efficient and engaging dialogue with customers. Both Chatbots and customer service agents can answer queries fast, solve problems, and establish strong relationships during the buying process. When people feel heard, they are far more likely to remember the experience, recommend your company, and return to spend more money.
Personalize at scale
According to Monetate, 93 percent of companies with an advanced personalization strategy experienced revenue growth and higher customer retention. It’s not always easy to stand out, but knowing your customer and using this information to deliver tailored dynamic content across channels is one of the best things you can do to drive sales. 84% of companies that improve their CX see increased revenue and 79% report cost savings. E-commerce personalization lets you target people with recommendations based on their preferences, remind them about abandoned cart items, and share last-minute offers to convert. Personalized conversations depend on data, which is why it’s important to collect, manage, and analyze the data you have access to as much as possible to enrich the CX journey.
To conclude, positive CX keeps customers coming back - 74% of people say creating a seamless customer journey across assisted and self-service channels is important or very important. As such, it’s clear why businesses are rethinking how they engage. Thoughtful omnichannel communication allows you to have smarter conversations with consumers and companies who prioritize CX are creating the strongest foundations for the future.