While you may be under the impression that your brand is providing high-quality customer experience (CX), new data from Bain & Company suggests that companies often conflate their perception of how well their CX is performing.
The study found that although 80% of the 362 firms surveyed believed they were delivering a “superior experience” to customers, customers reported that only 8% were doing so.
With CX being as imperative to success as it is, companies are always seeking to master it. However, according to the aforementioned findings, few do.
Here are 3 long-established CX Myths that could be preventing your company from strengthening its brand:
Only Bad Experiences Cause Customers to Leave
While it’s certainly correct that bad experiences with your brand can affect your customer perception of it, customers are often willing to stick around after one or two hiccups. Where issues arise, however, is when mostly-satisfied customers decide to take their business to a competitor that they believe does it better.
So what’s a company to do? The answer is to implement loyalty programs that create an allegiance between you and your customers.
PR Nightmares Will Destroy your Brand
To be clear, we’re not suggesting that you do something drastically negative to draw attention to your brand. However, the major losses that companies face often come after a succession of small-scale errors, not after a bad PR incident.
Think of it this way: Imagine that a company you are loyal to tweeted something insensitive and the post went viral. After the brand apologizes profusely for the incident while deflecting blame, do you truly see yourself giving up on them? The answer is probably no. Their mistake didn’t entirely affect you, so the company ultimately remains in your good books.
However, if you were to experience multiple minor first-hand issues with a company, the chances are that you wouldn’t want to continue on as a customer with them.
Marketing is the Be All, End All
Nobody is denying the power of effectively targeted marketing. However, there’s only so much a marketing team can do to acquire customers, and the responsibility of keeping them doesn’t entirely rest upon their shoulders.
In order for your company to thrive, it must be investing in CX initiatives that are connected to marketing. This is achievable by collecting insights on customer behaviours that allow your company to keep encouraging positive ones.
How Innovative Vision can help
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