How CX Can Impact Revenue Growth

Customer Experience (CX) is your customer's journey from their initial connection with your brand to their ongoing post-sale experience, focusing on how your business communicates, interacts and manages the process to meet your customer's needs continually. According to Forbes, 87% of business leaders tag CX as their top growth engine—the highest of any other growth area. Business leaders are adopting a more tech-savvy approach to heighten CX within their organisation, but you may be wondering how that looks and where to begin.

‍Customer Service vs. Customer Experience

According to Intercom, 90% of people say customer service is essential to their choice of – and ongoing loyalty to – a brand.  If their service expectations aren't met, over half of customers (58%) would sever the relationship. 

Customer Service and Customer Experience: What is the difference? It's important to view customer service as a transactional process and see it as the foundation or starting point to create your CX strategy. CX should focus on a more holistic approach by creating brand advocates/repeat customers and allow for a seamless balance between bots and humans to meet and exceed customer needs. Your customers will know their desired outcome when they contact you, but how can you ensure you deliver it? If we look at the traditional approach to customer service, we aim to meet the customer's need as quickly as possible, answering their query and moving on. However, the aim should be to ensure the customer's needs are met, often using AI to aid in heightening the experience by triaging queries while also showcasing other products, identifying opportunities to increase advocacy and linking them to helpful articles that may be useful in further assisting the query before seamlessly transitioning to human assistance if required. 

‍Utilising CX Software

Forbes reports a strong omnichannel CX strategy leads to a 10% increase in average order value. Why it matters? Investing in CX improves customer satisfaction and makes customers more loyal. When a brand creates a great customer experience, customers are more likely to increase their spend. A fundamental starting point is ensuring you have robust software solutions and connected channels for your customers to communicate with your brand. Using the right CX software can deliver a fantastic way to create a communications hub for all customer interactions and allow you to apply AI to achieve and surpass desired customer outcomes. Zendesk reported a staggering 286% ROI alongside a 23% increase in average order value with sales assisted by Zendesk. However, having licences with a CX software provider isn't going to give you the results you need on its own. Your chosen software needs to be fully optimised and implemented to meet the required outcomes for your business and serve your modern customers' needs. To understand how SaaSy can help with configuration and optimisation of leading CX platforms, click here.

‍Marathon Mindset

Achieving a high-quality customer experience and ensuring your business consistently delivers in this area requires a marathon mindset. Think strategically and understand you're in it for the long haul. An adaptable strategy to continue to elevate and invest in CX is essential. Investing in customer support agents is a fantastic way to strengthen the relationship between your customers and your brand by ensuring your dedicated, fully trained professionals help meet the desired outcomes your customers require. Mckinsey reports 80% of the value creation achieved by the world's most successful growth companies comes from their core business—principally, unlocking new revenues from existing customers. If you're looking for business growth, the focus doesn't always have to be on growing your customer base; aim to set goals to develop a brand connection, gain advocacy, and heighten CX.

Contact us today to enhance your customer experience and speak with an Expert.