Why Customer Experience is the Key to Winning More Business

In today's competitive market, businesses need more than just a good product to succeed. They need to deliver an exceptional customer experience that sets them apart from the competition and earns customer loyalty. While pricing and product quality are important, customer experience is the easiest win that can instantly elevate your business and allow you to charge higher prices.

• Statistics show that customers are willing to pay more for a better customer experience, with 86% of customers willing to pay more according to Oracle's Customer Experience Impact Report.
• American Express research reveals that 70% of Americans are willing to spend an average of 13% more with companies that provide excellent customer service.
• Happy customers are valuable, and they're likely to refer your business to an average of nine other people.

6 Ways to Deliver a Better Customer Experience

You can create a more valuable customer experience than your competitors, regardless of your industry. Here are six examples from various companies that demonstrate how to elevate customer experiences.

1) Offer Better Customer Service

In the digital age, it's easy to get lost in the sea of automated emails and impersonal interactions. But customers value exceptional customer service. By going above and beyond to address customer needs and providing timely, efficient support, businesses can build trust and loyalty. Aweber, an email service provider, lost a customer to Mailchimp, a competitor, because the customer had an issue that Mailchimp's support team couldn't resolve quickly.

2) Build Customer Relationships Offline

Businesses can create a more personal touch with their customers by going beyond online interactions and extending a warm, personal touch offline. Stride, a CRM tool, stands out by sending handwritten notes to its customers, adding a human element that enhances the customer experience. This simple gesture strengthens relationships and creates a lasting impression.

3) Out-Care the Competition

Businesses can win over customers by demonstrating genuine care and going above and beyond to meet their needs. CD Baby, a music distribution company, provides exceptional customer service by going out of their way to care for musicians who want to sell their music on their platform. This approach fosters loyalty and strengthens customer relationships.

4) Forget "Business Hours"

In a world where customers are always connected, businesses need to be available to meet their needs, regardless of the time of day. Nordstrom, a high-end department store, went above and beyond to help a customer service expert who had forgotten his shirt and tie for a speaking engagement. By offering exceptional service outside of traditional business hours, Nordstrom demonstrated its commitment to customer satisfaction.

5) Solve Your Customers' Problems Before They're Customers

HubSpot, a marketing software provider, has a successful customer base, despite its higher prices, by implementing a strong content marketing strategy. Through its blog, HubSpot provides valuable insights and resources to help prospects and customers grow their business. This approach helps HubSpot solve customer problems before they become customers, building trust and establishing a relationship.

6) Do the Work for Them

Whole Foods, a grocery store chain known for its higher prices, provides a unique customer experience by going the extra mile for its shoppers. The employees actively help customers locate items, taking the hassle out of the shopping experience. This approach demonstrates the value of exceeding expectations and making the customer's life easier. Businesses can apply this principle online by taking proactive steps to address customer needs, such as making updates to accounts or troubleshooting issues remotely.

Compete on Customer Experience, Not Just Price

Businesses that focus solely on pricing often struggle with thin margins and risk losing customers to larger competitors who can afford to drop prices lower. While product quality is important, it can be easily copied. To truly stand out and command higher prices, businesses need to compete on customer experience. This means creating a positive experience for customers, not just with the product itself, but with every interaction. By focusing on making customers happy and successful, businesses can build lasting relationships and earn customer loyalty.