Everyone is more or less familiar with Customer Experience. It’s a term that is the measure of how a customer feels after interacting with a product, a service or a brand as a whole. Likewise operational excellence, relating a company’s costs to the value it delivers to customers. But what is Experience Excellence, and how can it be delivered?
That’s what we’ll find out in this article.
Okay, so Experience Excellence, what does it mean?
Our definition of Experience Excellence at Feedier
At Feedier we define Experience Excellence as the process or processes that can be put in place in order for the /customers, users, or employees to feel like they’ve had an excellent experience.
Implementing this strategy aims to detect dissatisfaction and eliminate it. This leads to a reduction in operational costs, an increase in revenue and better customer loyalty.
Dissatisfied experiences are a significant cost for companies. Whilst most companies are desperate to acquire new customers, acquiring a new customer can cost up to 5 times more than retaining an existing one.
This is why customer retention must be prioritized, and a special focus on improving the experience within the customer journey specifically.
Improve customer satisfaction to optimise the experience
Satisfaction is the lifeblood of your business, whether it’s based on your customers, employees, suppliers, or anything in-between, and dissatisfaction without an action plan is categorically bad for your business.
Detecting dissatisfaction at the root of the problem
First of all, it is not uncommon to see companies drowning in customer complaints.
Usually this is as a result of a problem with the product or service in question but no way of the operational team picking up on the issues. Another common reason is when one problem has led to a whole new array of problems, which can sometimes lead to an uncontrollable snowball effect.
So, focusing on problems as they arise is an important part of keeping your customers happy.
Manage your feedback in one place
We understand that it is never easy for a large company to have a clear view of each step of the customer journey. Either because it is complex, or because each department analyses what they are interested in without correlating the data obtained with that of the rest of the company.
This kind of situation leads to internal mismanagement and misunderstanding, and often increases the risk of customer churn.
This is why the establishment of a common hub for all teams is crucial. Each department continues to analyse the KPIs that make sense to them, but now it becomes easier for different departments to collect data and start to see overarching trends within the business. It also increases the rate of intervention, meaning customers who are dissatisfied get to a support person faster.
Using this collection of data that can be a mixture of uploaded old feedback, new feedback surveys and reviews – you’re able to see exactly where the problem lies. In the case of an Experience Excellence/CX platform like Feedier, it will even give you the ability to improve satisfaction across the organisation. The aim is not to work more, but to work smarter.
Action the dissatisfaction and react swiftly
The responsiveness by the right teams is key to improvement.
Although you may now be able to detect dissatisfaction at various touch points, if these problems are not solved, you are shooting yourself in the foot.
That’s why different teams across the company need to be proactive, anticipate these problems, and remove friction by intervening before the customer churns or the problem causes others to follow suit.
It is not on anyone to go through google reviews and find a way to personally help everyone’s issues, and often the review platforms aren’t data enriching enough to get to the real crux of the problem either.
If you don’t set up a way for dissatisfaction to be detected and acted on then there is no way to improve. Using a platform that provides automated alerts will ensure that the right person is alerted to a customer’s dissatisfaction immediately.
Feedier’s alerts system can detect and reduce dissatisfaction 85x faster.
A customer who is listened to within a very short period of time will shift from incredibly dissatisfied to satisfied just based on the service they receive. As a result, they can go from detractor to promoter in the blink of an eye (see our article on 7 things to know about NPS).
Better cost management to achieve excellence
As we defined earlier, improving satisfaction and reducing operational costs are the hallmarks of Experience Excellence.
Some companies rush to Google Ads to convert new customers, the smart way is to pay 5 times less and invest in a great customer experience. Your own customers will become your best advertisers.
As feedback is essential to improve the customer experience, each department will likely seek to collect their data with their own tool. However as we mentioned, the centralization of data is crucial to get this right, it is important to repeat. But it is not the only fundamental factor.
Opting for the right platform that gives you the balance of attractive surveys, and visual insights and powerful machine learning suggestions is crucial to save time and money. That’s why Feedier bases all its data analysis on Machine Learning, which, in close correlation with BI data, will detect points of dissatisfaction, highlight them and help you correct this friction.
Without this platform, you would need many hours to analyse hundreds or even thousands of data with spreadsheets. You would also need data scientists or analysts. On top of this, add in the countless meetings and workshops between your teams in order to clean the data and get some results. All this costs time and money.
But the democratisation of feedback and the accessibility of data analysis can do it for you in no time. This is the power of AI and Machine Learning.
To sum up
We have seen that you don’t need dozens of different tools to analyse your data, detect dissatisfaction or improve the customer experience in the long run.
There are three simple rules to follow in order to achieve an Excellent Experience:
- Measure, analyse and improve customer satisfaction
- Measure your KPIs, Set Alerts, and react proactively to feedback data.
- Use an Experience Excellence Platform (ie. Feedier)
Make the most out of Business Experience today