In today’s world, the most common thinking is that in order to increase profits, we need to improve our customer experience through as many digital channels as possible. However, it often happens that our customers do not use the channel for which we allocate a budget for development, weakens the overall CX. Start improving the customer experience by getting to know your customer and identifying which channels need improvement to increase CX in a cost-effective way.
What-How-When-Why to Measure?
Only what gets measured gets done.
The customer journey can be divided into three stages: pre, during, and post-purchase / consumption. Research has shown that the combination of NPS (Net Promoter Score) and CSAT (Customer Satisfaction) influences customer decisions by only 2%, while EXQ (Experience Quality) influences decisions by 86%. Therefore, it is advisable to focus on improving EXQ. The in-purchase and post-purchase experience are the most important factors that determine EXQ, and its tools are word-of-mouth sharing and loyalty.
How can we help?
With the EQ ecosystem
To understand the relationship between CX and profitability, three main CX management practices can be applied:
- Preservers: CX measurement based on NPS, involves low investment.
- Transformers: Integration and involvement of various channels and touchpoints in CX development processes.
- Vanguards: Continuously communicate with their customers, measure the results of their improvements, seek development opportunities, ask their customers if their improvements provide a higher level of experience, and what they can further improve to achieve this. Vanguards compete for their customers, not against their competitors.
Be a Vanguard!
We believe that ideal customer experience can be achieved by everyone, it’s just a matter of choosing and applying the right approach to understand the different customer personas and their needs. In implementing our CX ecosystem, we ask consumers about their preference and needs at multiple touchpoints, and collect continuous feedback alongside deploying our education and digital training content to ensure the effectiveness of our development efforts.
Glimpse into the future
International surveys have confirmed that our society is convenience-addict and that the biggest value for us is saving time. Consumers’ purchasing decisions are significantly influenced by the perceived time savings during the purchasing process. The impact of AI on CX management is increasing significantly, with predictions that by 2025, 50% of all service interactions will be AI-based, resulting in more concise, consistent interactions, thus saving significant time for the customer.