With social media and the connected environment we now live in, a good experience can lead to thousands of connections and a negative experience can lead to potentially more than that.
Unhappy customers go out of their way to actively persuade others not to do business with you. And nowadays, with social media, an unhappy customer will tell thousands of other people how bad you are within seconds! Mediocre customer satisfaction will no longer be good enough. Companies have to go above and beyond traditional satisfaction.
Being the best at customer experience in your own industry is no longer a viable option. Customers expect you to deliver a Ritz-Carlton, Uber, and Apple experience, no matter what industry you are in or service you provide. Customers expect extraordinary customer experience at every key touch point “moments of truth” they interact with you. It is the consistent experience at those key “moments of truth” where they become true brand loyalists.
Of course, it is not a simple undertaking, as an increasing number of companies are pursuing the same business goal. However, the fact that customer experience and customer loyalty mean different things to different brands also suggests that no two strategies will be the same. The conclusion for truly innovative companies is that the opportunity to stand out in the market exists.
Those companies that get ahead of customer expectations will continue to flourish. Those who react slowly, or devise service offerings that fail to take into account the particular demands of their audience, will face increasing marginalization.
The payoff is huge for companies that consistently deliver excellent products and services. Their customer will stay with them longer, buy more, refer more and cost less to serve.