As business owners, we always strive to provide our customers with the very best experience to keep them happy and returning. But, to give our customers an experience they'll remember and want to come back for, we must understand what customer success truly means. So what are the fundamentals of customer success and some ways you can create memorable Customer Experiences (CX) every single time?
It's first important to define CX, which in a nutshell is your customers' perception of how your business treats them. These perceptions impact customer behaviors and build memories and feelings that drive customer loyalty.
Want to dive even deeper into what CX is? Watch the full TABLEtalk for free. Once you understand what CX is, you'll soon realize that customer success results from a positive interaction. So;
What Is Customer Success?
Customer success is the method of anticipating customer hurdles or questions and proactively presenting solutions and answers to those issues before any issues arise. Customer success helps companies boost customer happiness and retention, which will increase your revenue, reputation, and customer loyalty.
Customer success is a relationship-focused client management method that aligns customer and company goals for mutually beneficial outcomes. To achieve real customer success, the customer and the company should be happy and satisfied with each interaction that is implemented as part of a grand strategy and not reactionary fixes.
Unfortunately, oftentimes, that's not what happens, a challenge that's increasing in an ever digital-only world. Research from Bain & Company shows that 80 percent of companies thought their CX was great. But, only eight percent of customers agreed. An excellent CX includes customer success in all steps of the customer journey, including:
- The first touchpoint when the customer comes in contact with your brand. This can happen through an employee, brand message, or product and can take place across different channels and devices.
- All interactions the customer has with all employees they come into contact with.
- The quality of their engagement and interaction with employees and the product or service.
Impacts of a Positive Customer Experience
Statistics show that 51 percent of customers will never do business with a company after one negative experience again. While perhaps initially a buzz word, statistics show that a negative Customer Experiences (CX) is not something businesses can afford. Speaking of the bottom line, in an American Express study, 60 percent of respondents said they would pay more for better CX.
To have a lasting impact and offer a positive experience, you must:
- Truly understand your customer and their wants and needs. When you focus on customer success, you must get to know your target customer so that you can meet and surpass their wants, needs, and expectations.
- Better customer engagement. Consumers trust brands they already know. When you provide your customers with engaging content and experience, they will continue interacting with you and their relationship and trust.
- Increased customer conversions. An existing satisfied customer is far more likely to make a purchase with you than an entirely new prospect. When customers are happy, you will see conversion rates skyrocket, reducing the need to find additional ways to extract revenue from every interaction. By focusing on providing value to your customers and keeping them happy, the conversions will take care of itself.
- Customer loyalty and retention. Amazing customer service will build a foundation of loyalty and help boost customer retention. It's been well documented that the majority of customers will pay more for superior customer service. When your company works to provide a terrific customer experience, you'll be rewarded with your customers' long-term loyalty.
When your business is aligned internally to delight customers at every turn and therefore provide stellar CX, the end result is customer success. Even the smallest interactions—like the ability to send a document within a chat and have it signed without ever needing to export it to another app, something our platform provides—has the power to forever change how that customer views your company.
Connect with our CX Advisors and experience for yourself in a short demo all the ways our platform can empower you to better meet and exceed your customer needs.