How Does Customer Experience Drive Business Growth?

July 13, 2023

Customer experience is a major building block of any successful business. In fact, 25% of customers say they are willing to pay more for services if they enjoy a high-quality experience and are 2.4 times more likely to stick with a brand when their problems are solved quickly.

Increasing customer satisfaction is no longer considered “going the extra mile.” It’s a necessary focus for any business that wants to thrive in the modern age. Let’s take a closer look at how you can help your business grow with an unrivaled customer experience.

Brand Ambassadorship

When you ensure an excellent experience for your audience, customers are more likely to turn into brand ambassadors. They leave positive reviews, recommend your brand to their friends and family, and share user-generated content.

Happy and loyal customers can bring more leads to your doorstep and help your business grow. Meanwhile, just one poor experience could cause a loyal customer to leave. Surveys show that 86% of customers leave a brand after just one or two unfortunate experiences. They can also leave negative reviews and keep others from trying your products and services. 

Higher Revenue

When customers are happy with the experience a brand provides, they are likely to make more purchases and increase the customer lifetime value (LTV). This can have a significant impact on the company’s bottom line.

Research shows that by improving customer experience, 84% of companies surveyed were able to see an increase in revenue. 

Top customer experience is the driving force behind cross-selling and upselling opportunities. They, in turn, increase the company’s revenue faster.

Business men reviewing financial charts ad graphs

Customer Loyalty

Customer loyalty is key to retention, brand ambassadorship, and brand development. When you provide a high-quality experience, customers are less likely to shop around for other options. Just a 5% improvement in customer retention can drive a 25% increase in profit.

As the customer becomes loyal to your brands, their LTV skyrockets. Meanwhile, they continue contributing to brand awareness by leaving positive reviews and providing user-generated content for your digital marketing efforts.

Competitive Advantage

When you streamline the customer experience and drive customer loyalty, you gain a major competitive advantage. Your loyal customer base contributes to your marketing efforts and attracts new audiences.

Positive reviews coupled with other organic word-of-mouth marketing tactics help you steal market share from the competition. This, in turn, allows your business to grow and become an industry leader.

Valuable Feedback

High-level customer experience encourages your audience to share feedback. These reviews, comments, and suggestions could turn into a driving force behind effective changes in your business.

Your marketing team can gain access to valuable data that streamlines sales and marketing strategies and takes your company to the next level of growth and development.

Are You Ready To Transform Your Customer Experience?

Top-notch customer experience is the ultimate goal of businesses that want to grow, develop, and become industry leaders. To achieve this goal, you need the right tools and strategies.

Aktie Now  can help you streamline customer experience solutions  with proprietary consulting methodology Aktie 360. From diagnosis to ongoing optimization, we’re here for you every step of the way. contact our team to learn more. 

Download the definitive guide to customer service