Customer experience management has a clear impact in three specific areas. Therefore, developing it properly is key to achieving maximum profitability. These three ideas are presented here today, but we will develop them in much more depth in subsequent articles.
a.- Impact on Customer Loyalty
Based on different studies, it has been established that a negative Customer Experience increases customer churn, estimating that for every 5 customers with a negative experience, the company will lose a customer. We recommend this article that develops this topic in more detail.
b.- The impact of Customer Experience on margins.
Price sensitivity doubles when a problem occurs and doubles again if these problems occur again. On the other hand, if the customer is captivated, loyalty (loyalty rate) can increase by 30%, making these customers less price sensitive. This is a key action in customer experience management. Controlling the evolution of customer experience acceptance has an impact on the company’s profitability, here is more information.
c.- A third impact is on the so-called Mouth to Ear.
A negative customer experience causes 2 to 4 times more negative impact due to the effect of negative word of mouth. We cannot forget that 92% of the world’s customers trust recommendations from friends, colleagues and family more than any other form of advertising. To know the opinion is to be able to influence word of mouth.
We will continue to develop this topic, but if you have specific questions, don’t hesitate to send them to us. We will be happy to help you. Send us your questions through THIS FORM.