Guest post by Dylan Berger.
Every brand strives to meet the ever-changing needs of their customers. Some companies do better than others, but the task comes with its fair share of challenges regardless.
Image credit: Jon Tyson on Unsplash
How does this customer perceive my brand? In what ways can I improve my product to meet their needs? What types of strategies should I use to elevate the customer experience? These are all common questions that business owners, CMOs, and brand managers asks themselves.
Here’s how important the customer experience is to your operations, the value of acquiring new customers, and examples of strategies you can employ to improve your customer experience and find prospective buyers more effectively.
The Growing Importance of Customer Experience (CX)
According to research from PWC, 73% of respondents believe CX is an important factor in all purchasing decisions. Moreover, 43% would pay extra for a more convenient shopping experience.
The same research says these are some of the elements that make up a positive CX:
- Speed
- Knowledgeable help
- Convenience
- Friendly service
It’s crucial to use these elements as guidelines to help you create top-tier experiences for your customers. Whether your business is B2B or B2C, your client or customer experience needs to be prioritized. (And as obvious as that sounds, we’ve all experienced less-than-ideal customer service.)
Why Acquire New Customers?
It’s no secret that retaining existing customers and upselling them is easier than putting in the effort to acquire new ones. But one of the most significant reasons for expanding your customer base is to improve profit margins. Each time you earn a customer’s loyalty, you’re also gaining their buying power.
Aside from profitability, your business can gain more exposure, with the ultimate goal of increasing your brand recognition. When new customers start buying products or services from you (and have a great experience), they’re likely to refer your company to friends, family, and colleagues.
Research from Nielsen shows that 92% of customers believe recommendations from friends and family, illustrating the significance of word-of-mouth marketing (WOMM). The power of WOMM should not be underestimated.
How can you capitalize on these growing trends of CX and acquisition?
How to Improve CX and Increase Acquisition
Here are four strategies you can employ to improve the quality of your customer experiences and gaining new clients.
1. Use a Multichannel Approach
Smart companies try to find ways to use more than one channel to sell their products or services. That could mean launching an online e-commerce site or creating a new mobile application to support people using smartphones.
Consider using a multichannel approach to acquire new customers. Direct mail, email, and social media advertising are all items in a marketer’s toolkit that should be leveraged to gain the trust of potential customers.
2. Appeal to Customers’ Emotions
Retailers have long capitalized on customer emotions to improve sales, whether it’s through well-timed promotions or flash sales. These types of discounts, when offered, encourage people to act quickly. They may feel more inclined to take advantage of these discounts while they last.
Consumer psychology is a complex concept, and it can be challenging for marketers to hone in on why people are driven to make specific purchases. However, if you can identify an emotional connection between your customer and your product, you’ve found a key point to emphasize in your marketing strategy.
Take the concept of sustainable marketing, for example. More people are trying to live an eco-friendly lifestyle, whether purchasing an e-bike for commuting or researching a brand’s sustainability efforts before making a purchase. When you appeal to customers’ emotional needs, you’re more likely to earn their business and loyalty.
3. Offer Several Ordering Options
The COVID-19 pandemic shined a spotlight on the importance of offering more than one ordering option. For example, many grocery stores expanded their operations to accommodate curbside pickup and delivery.
Additionally, some companies transitioned to a buy online pickup in-store (BOPIS) model, which has its benefits and drawbacks. The companies that provide several ordering options for their products are likely to outperform their competitors, as they’re working to directly meet the needs of their customers.
4. Personalize, Personalize, Personalize
Personalization is crucial in digital marketing. Research shows that 78% of millennials are more likely to spend on a high-end experience than buy something material.
Consider taking advantage of the new experience economy by personalizing your ad campaigns and communicating with prospective customers as individuals. Use data analytics and insights to help fuel these campaigns and get a better sense of people’s desires.
Drive Business Growth With These Strategies
Customer needs and expectations are changing on a daily basis, making marketing efforts like trying to hit a moving target. However, meeting these needs and expectations is vital to your business success. Consider implementing these strategies with CX and customer acquisition in mind.
Dylan Berger is a digital marketer and SEO at WebFX, where he writes about B2B and B2C marketing. He studied advertising in university but is a life-long student of philosophy, design and art.