[inlinetweet prefix=”” tweeter=”” suffix=””]75% of consumers in the US – believe that the customer experience is an important factor in their purchasing decisions,[/inlinetweet] finds PwC in a recent study. In fact, about two-thirds (65%) of respondents in the US feel that a positive experience with a brand is more influential than great advertising. Unfortunately, only half (49%) say that companies are providing a good customer experience today. But what happens when your product leaves the warehouse?
How many times have you seen a commercial for a new product on TV and said “I want to try that” only to find your local retailers doesn’t have it in stock yet? According to what I have read on social media it happens a lot more than you would think. To make matters worse when it does happen you’re losing customers and revenue.
Marketers, sometimes, live in an ideal world where displays are set up correctly and product is displayed on the right shelf or location. Unfortunately, it doesn’t happen like that unless you want to pay a steep “ad allowance” which is nothing more than a legal kickback.
Last week I was grocery shopping for a frozen pizza when I heard a consumer say “don’t get that brand, their pizzas are always freezer burned”. Do you think the brand knows about her and, more importantly, do they know that their products have a problem in this national grocery chain? My guess is probably not.
Not only are brands losing customers they are losing premium margins. Respondents reported a willingness to pay a premium for various products and services, if companies were to provide a great customer experience. This is going to continue to be a problem for retailers who churn and burn employees paying them minimum wage. Retailers have to realize that no matter what they say an employee with a bad attitude can ruin a business and a brand.
[inlinetweet prefix=”” tweeter=”” suffix=””]The payoffs for valued, great experiences are tangible: up to a 16% price premium on products and services, plus increased loyalty. [/inlinetweet]In return, among U.S. consumers, there’s a sharp increase in willingness to give up personal data: 63% say they’d share more information with a company that offers a great experience.
Customers generate revenue. Employees drive the experience.
Reduce friction for consumers and empower employees to bring higher customer satisfaction, resulting in more forgiveness if things go wrong. This may require new ways of working, more focus on the employee experience and a sophisticated view of the human-and- machine relationship in customer experiences.
Can you imagine losing one-fifth to one-third of your customers in a single day? Lost. For good. That’s exactly what could happen after just one bad customer experience with your product or brand.[inlinetweet prefix=”” tweeter=”” suffix=””] Even if people love your company or product, in the U.S. 59% will walk away after several bad experiences, 17% after just one bad experience[/inlinetweet]
How do brands ensure a great customer experience? Get the hell out of the office and become a customer of your brand/product. For many, it’s an eye opening experience.