5 Examples of how improvements in your CX process can drive profit

5 Examples of how improvements in your CX process can drive profit

The ability to create exceptional customer experiences can help your company stand out from the competition. Companies are asking themselves “What do my customers want?” more frequently than ever before. And so they should. It is more important than ever to truly understand the needs of your customers and how their experiences influence their purchasing habits.

What is customer experience as a business practice?

As a business practice, customer experience is designed to improve the overall experience customers have with your organisation. Customer experience doesn’t solely rely on your customer service. It includes the whole journey your customer takes from the moment they first interact with your company right through to the end. For example, a potential customer finds your store online and wants to purchase one or more of your products. They will go through your options, select the one(s) they wish to purchase, purchase it, and get it delivered to their chosen address. But the experience doesn’t end there. Once they receive their order they are expecting it to arrive in perfect condition and if for whatever reason, they wish to return the item they expect that to be an easy and seamless process. That is when your customer service will come into play and gives you the opportunity to exceed your customer expectations, lifting their experience.

1. Develop a clear vision of the customer experience

The first step to improving your customer experience is to have a clear vision of what the best customer experience looks like. Knowing this gives you something to base your customer experience on and know what you need to change. Establish a set of statements or values that will serve as a guide. Once these values are in place, your company will be able to clearly understand the expectations that will then be reflected in the customer experience.

2. Know who your customers are and how they interact with you

Step into your customers' shoes and pay attention to the complete journey they go through from start to finish. Too many times companies focus only on individual touchpoints such as purchasing and service calls rather than the whole picture. If you are going to understand fully what situations your customers face then you are going to need to understand their needs and wants. One way to do this is to segment your customers and create personas or customer profiles. Try to give each customer a name and a personality.

For example, James is 45 years old and wants to open a trading account. He has come to your bank to get your insights on the best way to do this, whereas Jane is 23 and she would like to open a savings account. Although these two personas have essentially the same needs (opening an account), their outcomes are different. By creating these personas, your customer service representatives can better understand who your customers are and what their needs are. This is also an important step towards becoming more customer-centric.

3. Develop an omnichannel mindset and PERSONALISE

The increasing amount of website traffic coming from mobile devices makes it important to consider the digital journey of multi-devices. As customers increasingly access brands via offline and online channels, often switching multiple times, Customer experience leaders realise that every part of the journey - however meandering and unpredictable - must be seamlessly connected and consistent. Developing an omnichannel mindset as well as personalising your marketing interactions boosts your customer engagement. 64% of executives that prioritise customer experience benefit from better sales growth.

4. Implement Voice of Customer (VoC) programs

Establish your VoC program for better customer understanding and to identify the common pain points they experience. VoC, or Voice of Customer, refers to feedback your customers provide about their experience with your business and their expectations of your products or services.

With our enterprise experience management platform that offers an easy-to-use interface, you can manage all your customer feedback. In TouchpointCX, dashboards are combined with an interactive resolution system and a powerful analytics reporting feature. Send your feedback to the right people within our organisation to improve satisfaction and resolve customer complaints immediately.

5. Use AI to gain clarity and act on your feedback

AI and machine learning can be tailored to understand customer experience. It provides you with evidence-based information on how to better the experience your customers have with your business. Each and every customer journey starts with listening and reaching out, whether it be by in-store, email, mobile app, or social review sites. Unify your collection efforts by gathering all your feedback into one location and discover what their main pain points are. Having the right AI tool you will be able to read, understand, and categorise feedback responses, providing you with a complete picture of the issues customers are experiencing. In minutes. Discover the root cause of issues with enough context and detail to help you provide actionable recommendations.

Letting the tool do the analysis can speed up the entire process and free up analysts' time to work on higher value tasks leading to improved revenue, better client retention and dramatically reducing risks around compliance issues.

Steps to making those improvements

By leveraging the expertise of Touchpoint Group and our solutions you will be able to collect and gather all of your customer feedback into one central place and provide the applicable information you need to provide the appropriate evidence. You will then be able to connect this evidence to a metric providing enough detail so the problem can be acted on accurately. As you make the changes needed to improve your customer experience, you can then track their impact and see if the changes are making a difference. Keep repeating this process until you see drastic changes, improving your overall score and customer experience.

To learn more about customer feedback analysis click here. If you are looking for an efficient way to analyse your customer data and improve your customer experience, contact our team of experts to find out how you can leverage our VoC Feedback Analysis solutions and get the most out of what your customers are saying about you.

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