Why Service Firms are Changing the Way They Interact with Customers
Why Improving the Customer Experience Matters
In today’s market, professional service firms must be able to deliver a great customer experience to stay competitive.
Customers simply expect more, and according to the Customers 2020 Report, by the year 2020 the customer experience will overtake price and product as the key brand differentiator. Customers now expect brands to provide personalized levels of service and access to information anytime and across all devices. This makes every interaction across the customer lifecycle an opportunity for your organization to make an impression.
You may have fantastic services, but if the experience isn’t there, customers will find a company that delivers both amazing services and an amazing customer experience.
Case in point: A study by Forrester showed that firms that focus on customer experience grew their revenue 17% faster than those that don’t. Simply put, the more you focus on the customer by providing a better experience, the faster you outpace your competitors in generating revenue.
The Customer Experience Gap
Be sure to keep in mind that there is a big gap between how companies believe their customer experience is, and how customers perceive the experience.
Most companies think they do a good job of creating a great customer experience, even while their customers are vocalizing through social media unhappy sentiments about their interactions.
In fact, Bain conducted a study among 362 organizations, asking the simple question, “Do you believe you have an outstanding customer experience?” A whopping 80% of companies believed they provided a superior customer experience, but when customers were asked about the type of experience they received, only 8% of customers agreed that they delivered a superior customer experience.
Want to know the best practices for creating an amazing customer experience? Check out this webinar series.