Top U.S. companies with the best customer experience:
Customer experience management and your top-line and bottom-line growth.
Any company, large or small can achieve remarkable customer experiences, raving fans and a sustainable increase in revenue. Why then do we hear of so few companies who deliver truly exceptional customer experiences and become the most powerful brands in the market? Because it takes a constant commitment to customers, an internal shift in how companies think and operate and, most importantly, a lot of hard work.
Delighting customers isn’t just about feeling good. At the end of the day, it’s about additional revenue. It’s critical that customer experiences and metrics be connected in order to drive growth.
Try starting with these metrics as a baseline and add additional metrics specific to your company or industry:
- Increase in issue resolution per customer service representative.
- Increase in issue resolution during first call.
- Increase in ARPU.
- Increase in number of customer referrals.
- Decrease in churn at every stage in the customer journey.
- Decrease in customer calls to help center, billing or technical support.
- Decrease in product returns.
Your goal is:
- To increase revenue from current customers
- To increase the number of new customers
- To decrease customer loss/churn
- To decrease operating expenses
It’s important to realize that delivering great CX (customer experience) and your financial goals are not mutually exclusive nor can your financial goals be achieved by ignoring CX.
The Key Takeaway.
Companies are always looking to establish their brands, increase revenue, decrease expenses and secure a market leadership position. What most of them fail to realize is that these things aren’t achieved by internal dictates, flashy advertising or a large influx of cash. They’re each driven by your customers based on the collection of experiences that they’ve had with your organization.
Customer experience management is a marathon, not a sprint. Change will not come overnight. But it will come. Your business can achieve customer and financial objectives. To reach this goal you will need:
- leadership from senior management,
- a company-wide sense of empowerment,
- a common purpose from every employee,
- customer-centric metrics tied to corporate revenue goals
And most importantly, customers who feel they are heard and appreciated.
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