Over 2/3rds of the customers are willing to pay a premium for the great experience.
Why Digital in
Customer Experience?
Srivatsan Tiruvallur Thattai - Head - Digital Assurance
July 26, 2022
Everything about a business that shapes a customer’s perceptions and sentiments about it is referred to as "Customer Experience" (CX).
A customer experience focuses on a user's interaction with a business throughout his journey.
These interactions are highly significant. They can make or break a B2C relationship based on the perception a customer takes away, whether it is cumbersome and frustrating to ask for assistance or place an order, or if
it is seamless, memorable, and delightful.
Similarly, an aggregation of all impressions created by the digital touchpoints in a customer journey that plays a key role in framing a strong opinion or brand loyalty is called a "Digital Customer Experience". A digital touchpoint may be anything like social media advertisements, live chat, email, blogs, websites, mobile applications, etc. Walking into a physical store or an
Apparently, we are traveling in the digital era, and the shift is towards digitization. Amidst digitization, focus on personalized customer experience is given higher priority, mainly for the following reasons:
Over 2/3rds of the customers are willing to pay a premium for the great experience.
A customer, who is emotionally connected with a brand has a 3x higher lifetime value and is also more likely to recommend it to others.
Also, a study shows that 1/3 of the customers who ended their relationship with a business did so because they didn’t get a personalized experience across channels.
A personalized customer experience means creating products, services, and interactions focused on individual customers’ unique requirements. Personalization has become the new brand differentiator, whether it's greeting your customers by their first name or offering exclusive offers that are focused on their likes and interests.
This personalized experience creation not only benefits the customer but also improves the business’s revenue as well. As digital improvements have increased, customers prefer digital channels to offline purchases. A business must have a clear strategy for measuring and improving digital customer experiences to stay ahead in the race and reap these benefits.
Over 2/3rds of the customers are willing to pay a premium for the great experience.
A customer, who is emotionally connected with a brand has a 3x higher lifetime value and is also more likely to recommendit to others.
Also, a study shows that 1/3 of the customers who ended their relationship with a business did so because they didn’t get a personalized experience across channels.
So, improving or creating a customer experience is more of a journey than an isolated view of these parameters.
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