Investors Love The CX Experience
TeleworkPH
Published: August 30, 2022
Customer experience is the holy grail of marketing and sales. Investors know this by heart. And in turn, they desire to invest in companies with customer experience ingrained at the core. do we keep harping on this? CX brings the money in and keeps revenue flowing predictably and consistently.
With that in mind, companies today must put customer experience (CX) at the heart of their business. Focusing on your customers is the ONLY way to ensure longevity in the game. Once you get CX right, you get all your business gears oiled up to generate a solid pipeline of customers and sales.
Investors love to put their money into companies that eat and breathe CX because these brands can ultimately deliver optimal shareholder value and ROI.
Investors love to put their money into companies that eat and breathe CX because these brands can ultimately deliver optimal shareholder value and ROI.
The money has always been in customer experience. Once you discover how you can tap on CX to benefit all areas of your business, that’s when you can take flight and soar.
Why Investors Love the CX Experience and Why You Should Too
Differentiating Factor
Today, most businesses sell the same products and services served with a different branding salsa. While having more competition benefits the customers in the long run, it can be overwhelming at some point. CX experience can give you that instant facelift, edge, and differentiating factor to attract more customers and keep them forever!
Increased ROI and Shareholder Value for Investors
It has been tested time again by multiple studies that show customer experience directly impacts revenue growth. In fact, according to Forbes, “Customer-centric companies are 60% more profitable than companies that don’t focus on customers. Brands with superior customer experience bring in 5.7 times more revenue than competitors that lag in customer experience.”
The best CX experience equips brands with the superpower to impact brand loyalty. It’s the little details that matter to customers and they remember each one, whether it’s good or bad, about your company.
Shareholder revenue increases with a great customer experience. Companies with above-average customer experience generate 4% more ROI than those underperforming in terms of CX. Market share also increases with a good customer experience.
Overall, putting the customer experience first gives your investors the impression that they are on the right fence. You have your eyes fixed on the area that offers the most impact on revenue, and that alone drives investor confidence.
Boost Brand Loyalty and Customer Retention
The most powerful revenue impact stems from providing a good customer experience which also drives brand loyalty. It’s predictable to have loyal customers once you keep them happy in their CX journey. Loyal customers are the best assets you can have in your business.
According to research by Deloitte and Touche, “customer-centric companies were 60% more profitable compared to companies that were not focused on the customer.”
Brand loyalty becomes synonymous and co-dependent with a good customer experience. That said, revenue growth becomes consistent and predictable when you hyper-focus on improving customer experience.
Once your customers are happy and satisfied, they will want to spend more. While discounts and freebies are exciting perks, customers will be glad to spend more buying from a brand they love. With or without these fantastic perks, that is.
Happy customers tend to be loyal for a long time. You don’t need to force them to be loyal with signed agreements or lock-in periods for memberships. Relationships don’t work when they’re coerced to do something. When they’re happy, they stay and are loyal without you even asking.
Build a relationship with your customers as early as now and watch how it pays off in the long term.
Generate New Customers
It’s easier for old and loyal customers to keep buying than for new customers BUT generating new customers for your brand is always an advantage.
A bad customer experience will always put a strain on your revenue growth. On a lighter note, a good and satisfying customer experience will usher excellent benefits for your ROI.
You generate massive revenue while attracting new customers because loyal buyers have put in a good word about your business. You don’t need to spend too much on marketing and promotional ads if you know you can provide an impressive and stellar customer experience.
That said, investing in customer experience will reward you with loyal customers. Getting more customers is healthy for your revenue growth and will boost investor trust and confidence in your company.
Why Invest in a Customer-Centric Company
Customer experience is the game-changer for any company. A customer-centric company will yield the most significant ROI compared to when you invest in sales and marketing.
Customer Experience is Your Fail-Safe Marketing Strategy
Customer experience seems to be the dark horse of all marketing strategies. While marketing campaigns and sales can be measured by the number of leads generated and actual conversions, customer experience is vague regarding its impact on the bottom line.
However, reports show that 84% of customer-centric companies or those that continuously improve and invest heavily in their CX strategies have significantly increased their revenue growth. This strengthens the point of how investing in the CX experience can give you a powerful return on investment. Invest in sales and marketing promotions; you’ll likely get a one-off deal.
But, if your company is looking for long-term and perpetual sales coming in month after month, then your initiatives must be detoured on improving and optimizing the customer experience. Focus on CX alone, and everything else will strike a chord without you overspending on promotional ads.
Perpetual Revenue Growth
CX experience must always be rigged and aligned to revenue growth. Clearly, investors see this. Customer experience is at the nucleus of every company. And funding or supporting companies with the best customer experience initiatives is how you play the cards well.
Messaging that Hits the Mark
Do you send messages to your customer out of wild guesses without getting their feedback? If you do, that’s a lot of wasted time and money invested in marketing products and services that your customers won’t be interested in.
Once you invest in customer experience, you won’t have to tread the hit-or-miss lane repeatedly. You transform to become a more intentional brand. You will know exactly what to say, how to say it, and how to treat your customers to keep coming back for what your brand offers.
Many companies promote a message that doesn’t resonate well with their customers. Investing in customer experience provides consistent and repeatable sales because you don’t just deliver great products and services; they offer a fantastic customer experience.
Customer feedback creates loops that tie customer support to improving product or service design. So, if customers call in to complain about a specific product or service, the team can fix it so that it works in line with what the customers want.
Create a Positive Customer Experience
A bad customer experience can take a toll on your revenue health. Unhappy customers can also be more expensive and time-consuming to repair.
While it’s essential to pay attention to rebuilding bad rapport with customers and restoring goodwill, it pays off when a company invests in providing a remarkable and inspiring customer experience that gets it right the first time.
Build Customer Lifetime Value (LTV)
One customer can bring you revenue to last a lifetime. When you can provide a good customer experience, you also increase your revenue line. Loyal customers can generate a lifetime of ROI for your brand.
The key here is to focus on a small group of high-value customers and keep them engaged with an immersive experience packed with products and services they need. Focus is critical in attracting and even more crucial if you want to retain more customers and keep them loyal.
Focusing on CVL helps you personalize the customer experience. With a personalized CX, you can rack up the ROI and sales by roughly 10% or even more. The key to delivering a fantastic customer experience is to be better listeners in a very noisy marketplace filled with brands who talk so much about themselves.
Listening to your customers enable your brand to provide a more relevant and rewarding customer experience.
The Real Value of CX for Investors
Investors can see how much they earn from a company that focuses on the CX experience. The goal here is the long-term gains or benefits that compound over time, especially when customers show increased loyalty.
Both Quick and Long-Term ROI
Investors also want to get their investment back within a quick time frame, but most importantly, they want recurring income for many years to come. The value of the CX experience is seen over the long term.
Many companies lose so much money due to poor customer service that they lose sales. Imagine how you can increase your profit by focusing on a solid customer experience, giving you a good spread in cash flow.
Companies that treat their customers like VIPs also build up a strong reputation in their industry and even in competitive markets, which increases their revenue stream.
Internal and External CX
Internal customer experience is crucial now more than ever. Having a happy and motivated staff will also bring in satisfied customers, increase sales, and keep investors happy. More investors are quick to invest and support a business with a strong CX experience. More companies can lower risks, reduce costs, and charge more for their products and services.
Customer experience shakes the business environment, and not everyone knows how to implement this right. The best customer support team can take your business to the next level without any resistance, friction, or strain.
Increased and Redundant ROI
Investors love numbers, statistics, and figures. They want to know how much ROI they can earn and what they save from having a streamlined customer experience. Getting customers to buy once is easy but getting them to come back repeatedly depends on the quality of your customer support and how your organization values customer experience.
Creating Micro Customer Experiences for Your Brand!
The challenge with customer experience is how you can make it so remarkable that your customers can’t help but share about it on social media. Creating good micro-experiences for your customers requires you to be intentional in your process.
At Telework PH, we value these micro-moments, making them worth your time and money. By putting a ton more value on customer experience, we build a team that will make you a more intentional and remarkable brand that can outperform the average. Contact us today and discover how we can turn the tables around for your business and reach the customers your marketing team can’t with a CX experience that is shareable, memorable, and profitable for the long term.
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