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, 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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