According to The Future of Commerce, customers view experiences in surprisingly simple terms: everything can be boiled down to a five-star rating system! It’s an effective and concise way to sum up a single interaction with a business.
“In the experience economy, five-star experiences aren’t a luxury – they’re the expectation.”
But businesses struggle to provide a five-star experience because they still lack a complete, accurate view of how well their customer experience strategy is performing,
Mind the Experience Gap
In fact, 80 percent of CEOs believe that they deliver a superior experience to customers, but only 8 percent of their customers agree. Two-thirds of the workforce is not as engaged by their work as they would like and four out of five consumers have switched brands because of a poor experience, as do twenty-five percent of customers defect after just one bad experience.
That’s what we call a experience gap! One side thinks i’ts strategy is performing well, but that’s not true to the other side!
To adress that matter, the publication lists a few guiding principles to your customer experience strategy.
5 principles for a five-star customer experience strategy
#Personalization: Across all channels, physical and digital, every engagement needs to feel perfectly crafted to the individual on the other end.
#Trust: Bold customer experience starts with a strong foundation of data collected from customers, and brands need to treat that data respectfully.
#Empathy: It’s what makes the human connection so powerful, caring about the voice of the customer and ensuring their feedback is addressed proactively.
#Deliver in the moment: Technology enables businesses to create value for customers in real-time, and that starts by connecting your demand chain to the supply chain.
#Engagement: Engaged employees create engaged customers. It’s all about people!
The path to the best CX strategy
Tho bring these principle to life is simple! Get strong commitment from the top. CX programs need to be led by the CEO.
It’s also important to share data across the enterprise and to choose a platform that allows you to connect your marketing, sales and service activities, like SAP C/4HANA!
And always keep in mind:
“In a world of continuous connection, if you don’t get five stars, you don’t just lose trust – you lose customers!”
Talk to our experts and get more info on SAP CX!