Consumer Markets

To Build Brand Loyalty, Focus on CX and Find a Way to Differentiate Yourself

It’s time to focus on customer experiences (CX). But, how do you differentiate yourself from the pack? According to a digital trends report from Adobe, the answer is…by providing an excellent CX. It beats content marketing, video marketing, and social pages.

Why should brands focus on CX?

Its official, consumer’s value exceptional experiences and will engage with a brand that provides such services. Wouldn’t you agree that engaging with brands focused on the customer, instead of the direct product sale, is more comfortable and more fun? Of course it is. When a brand focuses on the needs of the consumer and doesn’t force a product or service down their throat, it builds loyalty.

Here are a few statistics that show why brands need to focus on the customer experience.

  • Companies with a CX mindset drive revenue 4-8% higher than the rest of their competitors
  • Loyal customers are five times more likely to purchase again and four times more likely to refer a friend to the company
  • 96% of customers say customer service is important in their choice of loyalty to a brand
  • Brands with superior CX bring in 5.7 times more revenue than competitors that lag in customer experience
  • Customer-centric companies are 60% more profitable than companies that don’t focus on customers
  • Customers tell an average of nine people about a positive experience with a brand, but they tell 16 people about a negative experience

CX at its best

The Digital Essentials, Part 3
The Digital Essentials, Part 3

Developing a robust digital strategy is both a challenge and an opportunity. Part 3 of the Digital Essentials series explores five of the essential technology-driven experiences customers expect, which you may be missing or not fully utilizing.

Get the Guide

Let’s take a look at a leading company that implemented a super personalization experience. We are talking about the “most magical place on Earth,” Disney World. Disney implemented a wristband called the MagicBand. The band is equipped with artificial intelligence (AI) technology, and these bands interact with the thousands of sensors located throughout the theme park.

These bands communicate with the sensors across the park, allowing the Disney cast and team members to examine and predict all actions and needs. These proactive analytics allow the Disney team to provide a fully personalized experience for all the guests. Taking it a step further, Disney securely documents all of the data to create a massive predictive analytics database to further adapt and renovate the parks and customer experience for the best possible experiences.

With these advanced technologies in the theme park, Disney can now assess wait times, predict paths in the park, optimize personal experiences with Disney characters meet and greets, and simply greet guests by name when they arrive at any destination – all because of a brilliant wristband.

Now, that’s a big picture version of personalization. Small, medium, and large companies can still incorporate personalization efforts to their customers as well. Have you ever been online shopping, and all of the items you routinely order are on the front page? After multiple searches on a specific company site, did the searches become easier, more structured to your likes, and possibly even autofill? Most of the leading companies are incorporating some sort of personalization in their customer experience. Whether that’s from artificial intelligence, chatbots, or an enhanced enterprise search, the possibilities to enhance the customer journey are endless.

Find a way to differentiate yourself through CX

There are many ways to implement a successful customer experience. It can be a simple-to-use website, a fast-loading mobile app, loyalty initiatives, and personalization, to name a few. Unfortunately, these examples are what consumers expect already, so it’s not enough. You need to think about how you will differentiate yourself from the pack, just like Disney did.

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