Recent years have seen an explosion of ecommerce sites / shopping portals and a wide mix of target groups. How does a marketer target each group? Considering every portion of the demographic mix is crucial for commercial success, it is imperative to attain focus effectively. Customer experience with your product / services decides your fates.
The Gartner CMO Spend Survey 2015-2016 revealed two insights that should guide how marketers approach customer experience.
- Marketers are refocusing on shorter term opportunities
- Marketers are prioritizing technology investments for business impact
This is an era of digital transformation, the key to commercial success is customer experience governed by technology solutions. With the advent of SMAC technologies, the customer expectations have increased multifold. It is no longer just one or two interactions with the customer, but a cumulative effect of all the experiences at various customer touch points.
Creating and delivering the desired customer experience is the focus area for every enterprise. A study by American Express suggests about 70% of consumers have bailed on a transaction or not made an intended purchase because of a poor service experience. So how can a company bring in the desired customer experience?
- Customer service holds the key: About 70% of buying experiences are based on how the customer feels they are being treated. This implies organizations need to contextualize and understand the customer from all dimensions, 360 degree view.
- Bring in customer loyalty: A loyal and repetitive customer is bound to bring more revenue to any organization as compared to a new prospect. It is generally 6-7 times more expensive to acquire a new customer than to engage the existing customer.
- Instill competitive advantage in your offerings: The organization needs to focus energies on analyzing customer behavioral patterns and link them to the organizational capabilities to deliver superior customer experience.
About 9 out of 10 consumers say they would pay more to ensure a superior customer experience. Moreover, a happy customer requires not only a competent company service personnel, but also personalized experience.
PSI offers a range of Software Product Engineering services to make your service / application market ready and competent.
Image Courtesy: goo.gl/7NXmgCRecent years have seen an explosion of ecommerce sites / shopping portals and a wide mix of target groups. How does a marketer target each group? Considering every portion of the demographic mix is crucial for commercial success, it is imperative to attain focus effectively. Customer experience with your product / services decides your fates.
The Gartner CMO Spend Survey 2015-2016 revealed two insights that should guide how marketers approach customer experience.
- Marketers are refocusing on shorter term opportunities
- Marketers are prioritizing technology investments for business impact
This is an era of digital transformation, the key to commercial success is customer experience governed by technology solutions. With the advent of SMAC technologies, the customer expectations have increased multifold. It is no longer just one or two interactions with the customer, but a cumulative effect of all the experiences at various customer touch points.
Creating and delivering the desired customer experience is the focus area for every enterprise. A study by American Express suggests about 70% of consumers have bailed on a transaction or not made an intended purchase because of a poor service experience. So how can a company bring in the desired customer experience?
- Customer service holds the key: About 70% of buying experiences are based on how the customer feels they are being treated. This implies organizations need to contextualize and understand the customer from all dimensions, 360 degree view.
- Bring in customer loyalty: A loyal and repetitive customer is bound to bring more revenue to any organization as compared to a new prospect. It is generally 6-7 times more expensive to acquire a new customer than to engage the existing customer.
- Instill competitive advantage in your offerings: The organization needs to focus energies on analyzing customer behavioral patterns and link them to the organizational capabilities to deliver superior customer experience.
About 9 out of 10 consumers say they would pay more to ensure a superior customer experience. Moreover, a happy customer requires not only a competent company service personnel, but also personalized experience.
PSI offers a range of Software Product Engineering services to make your service / application market ready and competent.
Image Courtesy: goo.gl/7NXmgC[:]
