Customer Experience (CX)
Customer Experience (CX) refers to how a business engages with its customers at every point of their buying journey—from marketing, sales and everywhere in between. CX starts with a business becoming “aware” of customer interfaces – it touches every department in a business!
Customer Experience (CX) is a primary factor in customer retention and customer acquisition. Businesses that study their company’s CX grow faster and are more profitable. CX can be a critical factor to building a successful branding strategy.
One statistic that should concern every business owner – 95% of dissatisfied customers tell people about their experiences!
Barbara E. Kahn, Wharton's Professor of Marketing,[11] has established an evolutional approach to customer experience as the third of four stages of any company in terms of its customer centricity maturity. These progressive phases are:
Product orientation: Companies manufacture goods and offer them in the best way possible.
Market orientation: Some consideration of customer needs and segmentation arises, developing different marketing mix bundles for each one.
Customer experience: Adding to the other two factors some recognition of the importance of providing an emotionally positive experience to customers.
Authenticity: This is the most mature stage for companies. Products and services emerge from the real soul of the brand and connect naturally with clients and other stakeholders, for a long-term.
Our CX expert has compiled strategic areas and CX questions for your company’s management team - free for the asking!
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