Customer Experience Beats Price For 80% of Customers - Teleperformance - ContactCenterWorld.com Blog
When choosing between various similar products or services, what are the most important criteria you personally use to make a choice? Price is the most obvious, but as you will know from the choices you make in your own life, cheap products often offer a false economy for the customer.
When I was a kid, my friend asked his father for some cash to buy a new pair of shoes for school. His father gave him the amount he asked for, only commenting that it sounded quite expensive. My friend had used his excellent skills of persuasion to convince his father that he was paying for quality that would last. He then bought a pair of shoes for half the price and kept the change – only to find that they were falling apart a week later and he could not ask his father again.
This schooldays reminiscing illustrates an important point that most customers are aware of instinctively, that price or cost is not the same as value.
Gerry Moran of Marketing Think believes that 80% of US consumers would happily pay more for a product or service if the customer service was better than that offered by a lower cost alternative. For many companies this kind of information on customers is astonishing – customers would happily pay more?
What is even more interesting is that almost half (44%) of customers in the Marketing Think data believe that customer loyalty is a relic of the past. So half of all customers don’t believe that a brand deserves their loyalty today and 4 out of 5 are happy to pay more if they get great service.
Connect those two statistics together and it is no surprise that many organisations are spending far more on improving the experience customers have when interacting with their brand. Customers getting a great experience are happy to spend more. Customers getting a poor experience are prepared to move on to an alternative supplier in an instance. This is a perfect storm for those companies not thinking strategically about how they offer a great experience.
The customer experience begins long before the customer buys anything. Customers today want to interact with brands, to communicate, to ask questions and do research. Communication with customers today is more like building a relationship. Loyalty is given to brands who enjoy engaging with their customers and these are the companies that enjoy repeat business from customers who could be classified more like fans rather than just customers.
Have you started thinking strategically about the relationship your brand has with your customers? Leave a comment here or tweet @teleperformance to talk more about how you can turn your customers into fans.
Publish Date: March 1, 2016 5:00 AM
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