CX Tomorrow: Part One
It all begins with an idea.
CX as a Competitive Differentiator
In today’s UK market, Customer Experience is no longer just a nice-to-have - it’s a business strategy. Data shows that companies prioritizing experience over price wars are seeing greater customer loyalty and lifetime value.
Adapting to this change can be daunting, but there are real benefits:
• When the experience is more personalised, customers are willing to pay a premium compared to being treated in a generic manner.
• A good customer experience increases the likelihood of return business or longer contracts, which means an increased customer value.
This recent article by Forbes sets out some examples of how businesses can differentiate themselves from their competitors. They make a number of good points such as being proactive to head off potential issues earlier and using feedback as an opportunity to improve.
There are areas where I perhaps disagree to an extent - their view is that people should handle inquiries not automation. I don’t believe that is the right approach, something we’ll address in further posts in this CX Tomorrow series.