Customer Experience Is the New Marketing

30 years ago, if you were dissatisfied with some business, it would’ve been hard to inspire the change. Most of the time, the customers would have to accept the harsh reality and not even bother.

Today, however, the rapid expansion of the internet and social media has turned the tables. A dissatisfied customer can criticize you in a comment section, give you bad ratings on social media, or upload photo or video evidence.

Although, don’t forget the “two sides of a coin”. The choice is yours, be intimidated by this or embrace it and use it to your advantage.

Marketing took a different turn today. Banner and TV ads have less influence and positive customer experience is on its way to claiming the throne of new marketing.

90% of customers said that online reviews influence their buying decision. This means with positive customer experience you can influence the buyers to purchase your product or service.

You will find a recommendation about a product more trustworthy than an advertisement recommending it. Therefore, a business should focus on this trend exactly and make sure more of its customers are recommending the products to friends or family members.

What makes customer experience the new marketing

Additional value

We’ve mentioned it many times. Today, people don’t choose businesses just because of the quality of the product or service. They choose businesses based on the value they can get out of it, and customer experience is exactly the value they’ve been clamoring for.

Starbucks can be a perfect example of it. People don’t go to Starbucks only to drink coffee, but to also enjoy the craft of baristas, free WiFi connection, relaxing tunes, and a generally pleasant atmosphere.

Starbucks understands that good marketing means exceptional customer experience, and creates it through their free birthday treat program.

New marketing AKA customer experience is concerned with treating customers well and exceeding their expectations. Set those goals yourself to market your business better.

Customer retention

A good customer experience retains your customers. It goes without saying that a satisfied customer means a returning customer which equals to more revenue.

Losing a customer costs businesses $1.6 trillion per year. Therefore, imagine the amount of money you save by implementing positive customer experience in your business strategy.

Statistics show that 50% of your customers return to your business after a positive customer experience. Let us say it again, not because of the banner ad they saw outside but because of positive customer experience, a concept that transforms your clients into devoted buyers!

Positive feedback

Customers that endorse you via positive feedback help your business to grow! Moreover, they make your company look 73% more trustworthy in the eyes of new buyers.

Reviews are one of the best ways to strengthen your brand in the eyes of the potential customer. By providing positive customer experience, you will make your clients a part of your marketing team.

The best part about it is that satisfied customers are willing to give you a positive review. Out of 74% of customers that were asked to leave a positive feedback, 68% actually did. So whenever you see a satisfied customer, don’t hesitate to ask them for several nice words online!

And keep in mind that being positively mentioned by your clients has a stronger impact on potential buyers than any other marketing activity.

Profit increase

As we already mentioned, good customer service helps you retain your clients.

The catch? 10% retained customers contribute to a 30% increase in the company’s value. These statistics show that investing in customer experience is a profit-generating move.

Millennials are the largest generation in history, and they are about to become the biggest-spending generation, too.

Turns out, Millennials are willing to pay extra 21% thanks to good customer care. It is an indicator of how people value good customer service and also a possibility for companies to turn the insight into monetary gains!

Innovation

Last but not least, innovation! The customer is one of the main sources of innovation. Almost every innovation implemented serves to satisfy the customer’s needs and simplify their interaction with your business.

Listen to your customers and let them guide you. With the feedback from your clients, you will understand what features and updates customers seek the most.

But don’t wait for them to tell you. Ask away! Motivate your customers to give out opinions on what innovations they would like to see.

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We provided not only reasons but appropriate statistics to show you how important customer experience is today. As we’ve already mentioned, correctly implemented CX will take your marketing to new heights.

Word-of-mouth, online feedback, reviews and recommendations… the list goes on. All these are the tools your customer can use to spread good word about your business, but only if you implement good customer experience strategy!