There’s no doubt it’s the “Age of the Customer,” and companies that are not systematically improving Customer Experience (CX) will continue to lose money. A customer is 4 times more likely to defect to a competitor if the problem is service related than price or product related and a 5% reduction in the customer defection rate can increase profits by 5 to 95% (Bain & Company). That’s the realization that Benjamin Easaw, President of Revesis, conveys to his clients before helping them identify the strategies needed to deliver the most profitable customer experience.
Customer Experience is essentially how customers perceive their interactions with a company. In an era where products and services have been commoditized, in many ways, it is today’s “game-changer.”
Because the customer has so much more control of their buying decisions than ever before, companies need an effective strategy. With the advent of social media, and access to the Internet, a customer base can choose to spend their hard-earned money with a company simply by gathering information from the review of a company’s service delivery, or considering a friend’s recommendation. A dissatisfied customer will tell between 9-15 people about their experience. Around 13% of dissatisfied customers tell more than 20 people (White House Office of Consumer Affairs).
Through his Customer Experience engagements, Benjamin believes companies are fundamentally focusing on the wrong areas. He explains that, “they start off believing the customer experience is all about spending some money and some effort in acquiring new customers. They soon realize that they don’t have lasting success to show for it.”
They also think that “fixing the customer service department will optimize the customer experience.” Companies fail to realize that the customer service department is only one of the many interaction points where experiences are actually delivered.
Another common misconception is the fact that customer experience is all about marketing. It’s more than just ensuring that the message is “customer friendly.” Benjamin thinks it would be more prudent to ask, “What happens when that customer responds to the marketing message? What will their experience be when they begin to interact with your employees? Will your employees deliver the experience the brand’s marketing and advertising has promised to the consumer?”
Lastly, he also emphasizes, “the single, most over-looked area that an organization does not recognize is the flipside to customer experience, and that’s the employee experience.”
He believes that if the culture of the organization is such that employees dread coming into work, then that’s the same effort and experience they will deliver to customers.
His solution involves walking companies through a proven methodology he was able to develop over the years. He explains that for companies to be successful, they must follow six crucial steps: learn, discover, architect, transform, apply and steward. His unique methodology is largely effective because he considers departments, such as, customer service, accounting, technology, the front-line sales employees, and online and offline touch points to compile an understanding of how all of them work together to deliver the brands intended customer experience.
Having worked with many Fortune 100 companies, Benjamin uses his experience to facilitate the process in finding a solution for companies. In addition to being a certified CX professional for seven years, he is a member of the Customer Experience Professionals Association (CXPA) and has provided customer strategy consulting for over 15 years.
To learn more about how he can help your company evaluate, identify and develop strategies to improve the customer experience and increase profits, visit Revesis.com.