If you’re looking for ways to improve your customer experience, you’re in luck! In this blog post, we will discuss four customer experience tools that will help you fuel your customer acquisition strategy. These tools are essential for creating a positive experience for your customers and encouraging them to return to your website or store again and again. Keep reading to learn more!
We’ve discovered in our years of experience that the most effective way for CX practitioners to demonstrate the intangible financial connection is through four fundamental economic pillars. They are:
- Customer Acquisition
- Customer Retention
- Cross-sell and Upsell Opportunities
- Cost Reduction
The first pillar, customer acquisition, is made up of several elements. Each of these components is essential to how a firm’s executives run the business. But today, we’ll look at the first pillar, client acquisition and how four cutting-edge customer experience solutions may be used to help inform business decisions that convert non-buyers into buyers, increase market share, and expand income. Are you ready to cross off one of these items on your to-do list? Let’s get started!
TOOL #1: KEY DRIVER ANALYSIS
Investigate Why Customers Make Purchases
By understanding your business’s existing strengths, you can more effectively appeal to new customers and amplify those qualities. Key Driver Analysis is the perfect tool for comprehending what your core strengths are so that you can better reinforce them. It’s a simple process:
First, you’ll want to take a look at your customer base and break them down into segments. Next, you’ll want to score each segment on their likelihood of becoming customers. Finally, you’ll want to compare your results against industry benchmarks.
What is Key Driver Analysis and how does it work? InMoment’s solution applies a variety of mathematical models to consumer data in order to identify which variables have the most impact on a specific business outcome, such as Net Promoter Score (NPS), Customer Satisfaction, Customer Effort Score, and so on.
With this information at your fingertips, you don’t have to guess where you should concentrate your efforts in your business. You can identify areas for improvement and take action, as well as communicate your differentiators to internal groups like marketing that may develop targeted campaigns emphasizing your advantages to possible clients.
TOOL #2: BENCHMARKING
Understand Why People Choose to Shop Elsewhere
It’s now time to figure out why non-buyers are choosing to do business somewhere else after discovering satisfaction drivers for existing clients using Key Driver Analysis. A great way to do that is by benchmarking your company against the competition. You’ll be able to find out what they’re doing right that you could be doing better.
There are two types of benchmarking: internal and external. Internal benchmarking is when you compare your company’s performance against other departments or divisions within your organization. External benchmarking is when you compare your company’s performance against other companies in your industry.
There are benchmarking solutions in the marketplace that allow you to compare multiple companies’ performance on key drivers using a variety of mathematical models. The results will help you understand what changes need to be made within your company to improve customer satisfaction and loyalty.
With so many methods to comprehend your rivals and why non-buyers choose them, you’re well-armed with the knowledge necessary to create messaging, products and services, pricing, and experiences that will entice consumers to your brand—and keep them there.
TOOL #3: MICROSURVEYS
Get the feedback you need to improve
It should be easy for your customers to do business with you. Make it a priority to streamline your processes and make sure your team is providing excellent customer service. When you make it easier for people to do business with you, they’ll be more likely to keep coming back. The world is digital—and one of the key drivers of great digital experiences. Ease.
Microsurveys not only make it easy to track customer feedback and analyze data across every channel, but they also help you automate the process so that you can focus on other areas of your business. In the microsurvey you will ask 2 questions, the first one relating to an NPS score and the second one open-ended. TIt is also important to take a holistic view of your score and qualitative data when considering the ease or difficulty at each touchpoint, as it allows you to see what impacted that result. You may take action to decrease friction and make it simpler for digital window shoppers to complete a purchase and become delighted customers once you’ve identified the sticking points in your journey.
TOOL #4: MULTIMEDIA FEEDBACK
Develop a strong, favorable brand reputation.
Social media is a major influence on our purchasing decisions, and it’s almost an understatement to say so. In fact, 71 percent of consumers are more likely to buy as a result of social media recommendations. So it’s probably true that when customers have good experiences, it’s in your best interests if they tell their friends about them on social media so everyone can see.
Multimedia feedback enables a customer to leave a review by using their medium of choice, eg video, photo, or through voice.
This can also be used to help you better understand the customer’s experience and even encourage them to participate on social media. This allows you to benefit from satisfied consumers and promote your excellent CX reputation by using happy customers as ambassadors for non-customers.
By using these four tools, you can take your customer experience to the next level and fuel your customer acquisition strategy. Implement these tips today and watch your business grow!
Creating a great customer experience should be a top priority for any business owner, no matter what industry they are in. If you’re looking to improve your customer experience but not sure where to start, try implementing some of the tips we’ve outlined in this blog post. By doing so, you’ll be well on your way to acquiring new customers and keeping them coming back for more. Thanks for reading!
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