Why should you start thinking about developing a customer experience strategy?
1. Not all organisations have reached customer experience maturity yet
As I’m sure most of us can vouch for, some companies still have room for improvement when it comes to their customer experience. Not all companies have embraced the customer centric mindset and have a plan for their experience strategy. For companies that are in a sector where this is the case, there’s an opportunity to get ahead of the competition.
2. Identify efficiencies through channel shifts to self-service models
When you look at the experience as a whole, and you’re looking at it from a customer centric perspective, you might identify areas where you can deploy self-service technologies. This can result in efficiencies or provide the opportunity to deploy resources elsewhere rather than them being taken up by repetitive requests.
Designing the experience end-to-end is a great way to identify underperforming areas of your service. This is because you might well be looking at your service as a whole for the first time rather than its component parts. Measuring customer satisfaction along each touchpoint of the journey helps to highlight where improvements can be made.
4. Customers are more likely to pay more for a better customer experience
There are research studies that point to the fact that customers are willing to pay more for a better experience. Research conducted by Price Waterhouse Coopers (PWC) 73% consumers said customer experiences influences brand loyalty. Between 42-52% of consumers would pay more for better customer experiences around customer service and efficiency.
5. Higher customer satisfaction
If you implement a cx strategy, you’re more likely have higher levels of customer satisfaction. According to McKinsey, businesses can expect to generate between 20-30% uplift in customer satisfaction by focussing on customer experience.
What success have other organisations had implementing their customer experience strategy?
So, what success have other organisations had with implementing their customer experience strategies? Are there any brands that have embraced change and transformed their offering based on shifting customer behaviours or market trends?
Screwfix transformation from a mail order catalogue to omni channel experiences
Kingfisher Group for example, are in the process of rolling out a 5-year transformation strategy to drive efficiencies internally as well as providing an improved customer experience, moving with the pace of change in peoples buying behaviour.
Kingfisher are creating a unified, unique and leading home improvement offer for multiple brands including B&Q and Screwfix.
To deliver this, they are:
- Optimising operational efficiency by introducing a unified IT platform which aims to create operational efficiency and cost savings and deliver customer benefits as well
- Taking a mobile first approach with their website and apps
Screwfix provide the facility to order from site and then pick up in-store using the ‘click and collect service’, going seamlessly from an online experience to an offline one.