what is customer experience what is cx in business

The Fundamentals of Customer Experience:

Welcome to the Next Level

What was your most memorable brand or customer experience? Was it the extra-friendly customer service representative who assisted you one Friday afternoon? The quickly processed refund she issued? Was it the eco-friendly yet beautifully designed packaging housing your order? Or, was it the limited edition freebie that came with it?

Now, think of your worst brand experience. Was it the long call queues? Was it the rude technician who came to service? The robotic voice that clearly didn’t care? Or, was it an online transaction that double-charged you? How were these incidents resolved? Could it have been done better? Of course it could!

Today, we live in an “experience economy” when customer experience reigns supreme in converting and retaining customers the world over. It has catapulted businesses to the top of the sales charts, and brought others down just as quickly. But what does customer experience even mean? What are the differences with customer service vs customer experience? It’s not just about having a good product or service—it’s about making sure your customers experience who you are as a brand, differentiate you from the competition, and feel valued.
importance of customer experience

What is Customer Experience (CX)?

Customer experience is the culmination of all interactions a customer has with your company. It is made up of the myriad of touchpoints that occur during a buyer’s decision-making journey, as well as all post-purchase interactions like complaints, queries, upgrades, and support tickets that come long after that initial purchase. This definition especially holds true today with multiple channels of communication available before, during, and after making a purchase.

Customer experience can’t be measured in terms of metrics like conversion rate or sales volume. Your sales numbers may be trending upwards, but are your customers fully satisfied with the connection you’ve built with them? Or did something happen during their product journey that cements their previous purchase being their last from your company?

It’s not about any one interaction, but rather the culmination of it; of how consumers feel throughout their journey with your brand and your representatives. What, then, is CX in business? Simply put: The more that customers feel valued, the more likely they will be satisfied with both the service they experienced and your brand as a whole—thus, creating a long-term, loyal consumer base.

94%1of customers will most likely purchase again after experiencing a positive CX

54%2would abandon your brand after one bad experience

54%3of CEOs worldwide view CX as a competitive differentiator

69%4of customers say that swift and timely response is what makes CX great

What is the Difference Between Customer Service and Customer Experience?

To effectively satisfy and retain customers, businesses must fully grasp the concept of customer service vs customer experience, which are more varied and nuanced than what most may initially think.

Customer service is the interaction between a customer and a business. It involves interactions such as answering questions, resolving problems, and providing feedback about your products or services.

On the other hand, customer experience is much broader, more nuanced, and more inclusive. It encompasses everything from how your brand engages with its customers before they even have an issue, to post-sales support, and all subsequent repeat business.

what is customer service experience

Customer experience is a differentiator.
It’s a business imperative. It’s a competitive advantage, and it’s a revenue generator. CX is more than just customer service—it includes how they perceive your brand, how they feel while interacting with you, and what they remember about you after all is said and done.

The importance of this element should not be underestimated—it’s vital to your brand’s long-term success and should be treated as such by every representative who interacts with customers on any level of your organization.

To sum up, customer experience is not just about delivering the best possible service. It is about building relationships with your customers and making them feel valued. The more you can do this, the happier they will be, the better they will feel about your brand, and the longer they’ll stay with you. This means that if you want to be successful in business today then it is essential that every part of your business must be aligned with this goal.

What is Customer Experience Management?

Customer experience management is a strategic approach that helps organizations understand, manage, and improve their customer experiences. CX management involves all aspects of an organization’s interactions with its customers: from marketing and sales to product development, service delivery, and customer support.

The goal of CX is not just to make the customer happy but also to retain them as long-term customers who are loyal to your brand or business model in general.

Customer experience management has 4 key pillars:

These four key points are how companies optimize their  customer experience in order to push forward new initiatives that will serve their customers better.

what is customer experience management
Understanding the customer persona
what makes a great customer experience
Mapping the customer journey
what does customer experience mean
Utilizing customer feedback
customer experience industry
Building customer relationships

Why is Good CX Crucial?

Customer experience is the new marketing, plain and simple. It’s the difference between losing a customer and gaining one, not just for today or this month, but for the long-term. In this digital era, impressions about your brand can be spread quickly through public social media posts. This is the new word-of-mouth referrals and businesses should understand how crucial that is. A strong, solid, and sustainable customer experience strategy can save you from suffering avoidable mistakes while reaping these powerful benefits:

A good customer experience strategy can go a long way. It serves as the foundation for your customer service and can help your company become resilient to change.

Brand Loyalty

Customers appreciate feeling seen, heard, and understood. The more they feel valued, the more they patronize the brand and share their positive experiences with others.

Increased Sales

Good CX boosts the company’s overall operational performance, including improved sales and revenue.

Exponential Growth

Exceptional CX is key to business growth. When companies invest in putting people first and empowering them with the right tools, employees can become capable of delivering good CX.

What Makes a Good Customer Experience?

The best way to think about customer experience is as an interconnected system with the brand, the product/service, and the customer at its center. It encompasses everything from product design and visual appeal, to marketing campaigns, and even employee training programs—all working together towards one goal: making sure that customers have a positive experience with their entire buying journey.

Customer experience managers should be able to answer these questions:

  • What kind of buying experience do you want customers to have?
  • How do you define success at each step along the way?
  • How do you measure and improve on those outcomes?

Customer experience measurement is the process of tracking and analyzing CX data. There are many different ways to measure customer experience, including

  • Customer satisfaction ratings
  • Customer feedback
  • Customer journey mapping

To achieve great CX, create a holistic approach toward understanding what makes your customers satisfied and what makes them tick. As the world continuously changes, so does customer behavior. There should always be new ideas and initiatives to consider.

References

Customer care is not just a post-sales experience anymore,
but now plays a strategic role across the entire customer journey; i.e., driven by deep customer engagement, ignited by emotional connection, and experienced across micro-moments and in moments that matter.

As the world’s fastest-growing BPO service provider, TaskUs continues to develop innovative and strategic plans for furthering the digital customer experience space.

We deliver Ridiculously Good services, which include Digital CX, Trust + Safety, Artificial Intelligence Services, Consulting, and Talent Management,

what makes a good customer experience

At TaskUs, we believe in the synergy of AI technology and the human touch and its potential of helping Us grow exponentially, thus giving Us the opportunity to expand and reach more of You.

With our Ridiculously Good formula and people-first culture, we’re well on our way to nurturing innovation from our clients and teammates alike. We firmly believe that by providing excellent benefits and employee support, we can continue to grow as a unit and provide Ridiculously Good service to the world.

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