What is customer experience?
Customer experience refers to the interactions between your organization and a customer during the course of their partnership. Such a relationship involves the experience of a consumer through various stages of learning, development, exploration, advocacy, purchasing, and using a product or service. It is the key to unlocking an opportunity to build brand loyalty and ensure continued business success through effective customer service CRM.
Customers are increasingly aware of their worth, and they understand that organizations depend on them for long-term success. They are looking for more than just the opportunity to buy a product when they approach a business. The customer service provided adds to the overall customer experience, and it can be the deciding factor in whether or not they return. Especially with growing competition, it’s easy for a customer to get a particular product/service elsewhere, and providing great customer service can set your business apart from the competition. It’s crucial that companies plan effective customer service CRM or invest in service CRM software to gain a competitive edge, and the following customer service statistics prove exactly why.
What do the customer service statistics show?
Customer experience report studies by PWC show that 86% of buyers would be willing to spend more money on a company’s product/service if they enjoyed great customer experience. Great customer experience could convince customers to pay price premiums between 13% and 18% for luxury products/services and increase impulse purchases by 49%. PWC’s customer experience report also found that an increasingly large number of companies are now investing in omni-channel experiences, the figures rising from 20% in 2010 to a staggering number of more than 80% in 2020. From 15000 consumers surveyed by PWC, 92% said that they would abandon a brand after 2-3 unpleasant experiences, while 1 in 3 reported that they would even leave a loved brand if they were to encounter just one bad customer experience.
A Walker study found that customer experience is likely to overtake product and price as the key brand differentiator by 2020 end. A Temkin Group customer experience report found that companies can expect to increase their revenues by $700 million in just three years if they invest in great customer experience. It makes sense to invest in great customer experience also because more than two-thirds of companies today primarily compete based on their customer experience, as opposed to just 36% in 2010.
Self-service seems to be the first choice for customers with studies reporting that 67% of customers prefer self-service as opposed to speaking to a representative of the company, and 91% would be willing to use an online knowledgebase tailored to their needs.
What role does service CRM software play?
Considering that good customer experience is crucial for the success of a business, it makes sense to invest in service CRM software. Service CRM software, like one from Kapture, can provide 360-degree customer insights, and engage with customers on multiple platforms. It encompasses a host of dynamic solutions, including ticket management, omnichannel support, feedback/survey, and reporting system solutions. All these solutions help to provide better customer experience and can boost your business’ success. Kapture’s efficient ticket management software allows email, voice, and social ticketing, making it possible for you to stay on top of customer queries from different communication channels and offer priority-based solutions.
Omni-channel customer support system provides a sales overview from various sources and can be used to optimize customer interaction from every channel. Phone support allows for the integration, tracking, and recording of calls in real-time to check agent productivity. Live chat support allows for clarification of customer queries, while email support can help to categorize emails on a priority basis and auto allocate emails to relevant departments. Even social media support systems help to convert conversations, likes, and comments from social media platforms and convert them into tickets for agents to attend to. Feedback is crucial for customers to feel like they are being listened to. Auto-delivery of survey forms can help collect customer feedback, which can be used to auto-generate detailed reports on product and team performance. Reporting systems can help to generate productivity reports, as well as status and source reports of tickets.
The information generated can be used to make better business decisions that help in providing improved customer experience.
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