Customer Experience Strategy
2020 required many companies to pivot their internal and external customer processes to provide convenience and safety. Switching to a more virtual world has sparked the need for customer feedback on updated customer experience (CX) strategies to ensure that all adjustments are as friction-free as possible.
No matter your situation, the value of real-time customer feedback has never been more apparent. Let’s break down what a customer experience strategy is and specific feedback strategies we can help you implement within your own company to embrace customer experience at all times.
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What is a customer experience (CX) strategy?
A customer experience (CX) strategy comprises the plans that a company puts in place to provide positive experiences at each customer touchpoint along the customer journey. A good CX strategy includes measuring how customers feel over time to create high-quality experiences that improve customer loyalty.
Forming a successful customer experience strategy starts by setting company-wide, customer-focused visions to match business outcomes to customer expectations. Customer experience metrics supported by feedback data help you set measurable goals, benchmark how strong your customer experience is now, and prioritize what actions should be taken to get you where you want to be.
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Starting your customer experience strategy
According to a 2020 customer report from the research firm Walker, customer experience has and will continue to surpass both price and product in importance for business strategizing. So, whether you’re noticing an increase in customer churn, or you’re looking to industry trends to stay competitive – there is never a bad time or reason to create a customer experience strategy.
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How are you measuring customer experience?
It’s no surprise that understanding how your customers feel about your product, brand, or service is a key asset to a successful CX strategy. But, how do you know what your customers are really thinking and saying about your company? Are you asking about their initial reaction to your brand, and monitoring how they feel about you over time? What your customers are willing to tell you can be the most valuable data for improving brand and CX strategies.
At elev8 we work with you on what to measure so it aligns with your business goals - whether it is your company’s Net Promoter Score (NPS) , your Customer Satisfaction Score (CSAT) , how easy it is to do business with you ( Customer Effort Score (CES ) or other metrics – we have the systems and processes to implement, measure and communicate to all levels within your business structure. Key stakeholders remain informed at all times. As a result of the analytics, we can also assist you in mapping out the customer journey and developing buyer personas to enrich your CX strategy design plans.
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How do you compare to others in your industry?
As more companies compete on customer experience to differentiate their brand, showing how you stack up to others in your industry can help you make a compelling argument for stakeholder buy-in. Studying your competitors’ CX tactics can also help you flesh out your own strategy. NPS benchmarking allows you to compare your NPS to flagship companies in your industry easily.
How do you know when your NPS score needs improvement, even after looking at benchmarks ? - We will show you how !
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What is the ultimate goal or outcome?
Developing a CX strategy roadmap requires you to think long-term. What is your customer experience end goal? Perhaps it’s reaching a specific Net Promoter Score by a certain date and creating internal metrics each quarter to take steps towards reaching the ideal number.
Consider creating measurable key performance indicators (KPIs) around customer success to track and measure these internal goals across the company. Team and company KPI numbers allow you to watch over time which of your improvements are working and when you need to go back to the drawing board as a leadership team. By using customer experience and company metrics, you can direct your efforts and investments to the areas where they will have the most long-term impact.
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​Optimizing your customer experience strategy
Now that you’ve thought about your customer experience survey metrics, internal goal-setting, and competitive benchmarks, it’s time to dig deeper into how you can utilize customer feedback throughout your CX improvement planning. We will work with you every step of the way.
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Find commonalities within your customer feedback
Gathering customer feedback data is the quickest way to spot recurring customer issues, product feature requests, or areas for process improvement. For instance, are there commonly experienced issues during the online ordering process? Customer survey data will give you a better understanding of just how well your existing procedures live up to expectations.