The Four Customer Experience Competencies Infographic.
A single bad experience can cost company money?
In the case of United Airlines, one bad experience became a YouTube viral video that damaged its reputation for months and resulted in a drop in their share price.
The fact is that managing customer experiences isn’t something to leave to chance. Great companies design customer experiences.
Some reports indicate that as much as 53% of consumers report stop spending at fast-food restaurants or rental car agencies as a result of a bad experience.
The Customer Choice
Customers today have more choice than ever. If you onto Amazon and type in any product you will find a plethora of alternatives.
The point is that customers don’t have to remain loyal, don’t have to choose your company.
Customers can easily see reviews of good and bad experiences and they trust these more than they do your marketing.
The Customer Journey
Today’s customer buying journey spans buying, owning and advocating. It is progressive so that if brands do the right thing in the buy and own stage, they earn customer advocacy. This is important because when marketers improve the entire customer experience across all three phases, their marketing results amplify and improve.
The connected economy continues its path of creative destruction and as a result, changing the nature of competition itself. Customer experience is in now the battleground for customers. Why? Well, hyper-competition has reduced traditional product and service advantages. Now customers have more choice than ever before. Customers also have easy access to those choices through the internet. This means that there is ubiquitous access to pricing and product information, and so consumers have little reason to remain loyal to a particular brand.
And for your customers to like you, you should know them very well to create and deliver personalised experiences that will entice their loyalty. But gaining this in-depth knowledge about customers isn’t something that just happens. It’s about collecting a lot of customers’ data and bring out valuable insights from that data with speed and precision.
The Four Customer Experience Competencies Infographic
What does it actually look like to take your customer experience capabilities to the next level? Many organisations say they focus on their customer “experience” but the reality is that defining the stages of customer experiences from the customer’s point of view is hard. One reason is that many organisations do not coordinate and collaborate across the customer experience journey. As a result, the operating areas do their own thing, driven by their internal tasks and agenda and scorecard. A lot of work is resources are committed within each area of the company. However, these don’t add up from the customers’ experience to deliver a unified experience.
Organisations need to have a framework and teams that have a clearly defined customer experience vision and integrate culture, employees, marketing and operations to deliver it. The four customer experience competencies infographic nicely illustrates the competencies that an organisation needs to develop to succeed.