How Customer Experience and Customer Loyalty are interdependent?
According to some companies, Customer Loyalty is an art that is rare and challenging to conserve. It takes a lot of research and development to gain their confidence and continue working towards the best of their interests. Jeff Bezos, the CEO of Amazon says "Focusing on the Customer, makes a company more resilient". That is a great piece of advice that the companies should stick to.
Customer Experience 𝛂 Customer Loyalty
Customer Experience (CX) and loyalty coexist with each other. One's positive or negative effect will have an equal outcome for one another. Companies rely on customer feedbacks and reviews and they need to incorporate those to provide a seamless customer experience. According to studies, 89% of customers switch their brand due to bad customer experience in their first instance. There is no single solution in providing the best to your customers. Just like the demands and the needs of customers keep changing, the company's approach to hold their valued customer must adapt with time. Companies tend to offer loyalty programmes for their customers and engage them through offers or discounts but a dedicated service goes a long way to retain a relationship with the customers than discounts.
A lot more is required to achieve customer loyalty than just marketing
Marketing can be considered a part or feature that contributes in bringing customer loyalty, but there is more to customer experience than marketing. The need for the moment is personalization. Personalization levels up the entire customer- centric approach. A simple personalized 'thank you' email or even conducting a one on one conversation prospect for the customers to talk about their complaint to a human rather than hearing mechanised voice of a machine makes a huge difference. Even to make the customers join the company's loyalty programme, they need to be drawn towards it with unique strategies, or else the customers won't show any interest.
Let Data be above all
Accumulation of data is easy but customising strategies around the data that grabs the attention is what a customer looks for. The customers need to feel that they are important and they are counted upon while maki
ng a decision by channelizing the previously owned data. The data that is obtained from a loyalty programme should be utilised smartly to frame other strategies for later use. Customer Loyalty is driven by customer experience, so only when the customer feels that they are prioritised by the company, will they invest their money and time over a particular brand.
Keep it simple
Whether online or offline, customers gets attracted to websites and its offers, if the site is clear and crisp. A company may be product based or service based, but what appeals is transparency. Hidden charges, lengthy terms and conditions, diversion of actual facts and figures, drive customers away. Make it Simple, yet Significant.
While every company is competing in the race to be the best, only such companies complete the race who run along with their customers. Customer loyalty is cherished by all but it is only received by companies who heighten Customer Experience with each passing day. It is a give and take policy that needs to be expanded with care.