Customer-first businesses are leading the way in 2020. The ones that place their customers’ needs at the top of their priorities list — and proactively look for ways to enhance the customer experience (CX). According to Econsultancy, almost 20% of businesses believe customer experience to be the most exciting opportunity for them — ahead of data driven marketing (16%) and content marketing (14%). In 2021, the demand for unbeatable CX will continue to grow — with continued remote working, increased customer personalization, and more uptake in automation and technology. If customer obsession isn’t already firmly on your radar for the year ahead, it needs to be.
What is customer obsession?
“If we can keep our competitors focused on us while we stay focused on the customer, ultimately we’ll turn out all right. That’s customer obsession.” — Jeff Bezos, CEO of Amazon
For business owners, customer obsession needs to be deeply rooted in the culture of your company — and more important, present in each and every member of your team. From front-line, customer-facing departments like sales and customer service, to the behind the scenes teams that don’t always deal with clients directly. Every team member needs a clear understanding of the wants, needs and expectations of your customers — and apply that information to every decision they make. To put it simply, customer obsession doesn’t start and end with customer-facing teams. It’s for owners and founders; senior management; brand new employees, and everyone in between.
The demand for data-driven CX
Only 32% of CX professionals feel they have access to the information they need to understand customers’ needs and previous interactions, and can apply it to improve their experience, according to Oracle. For business owners, this is a clear indication that investing in data, insight and analytics is pivotal to executing customer obsession and staying ahead. From gaining insight into customer preferences and making future behavior predictions, to collecting feedback and personalizing experiences — enriched, accurate data should be at the core of your business. When paired with innovative technology, this data will transform your business and its processes altogether.
Real-time response culture and retention
According to Invesp, investing in new customers can be up to 25 times more expensive than retaining your existing ones. And what’s worse — a massive 49% of American buyers switched brands last year due to poor customer experience, according to New Media Voice. Let’s face it — the stakes are higher than ever before, and developing strong relationships with loyal customers has never been more important. You need to be catering to your customers needs instantly — and in some cases, before they even know what they need themselves. Develop a real-time response culture throughout your business — remember, there is no longer any excuse to keep your customers waiting. Technology is key here — consider artificial intelligence to automate responses, website tracking technology to provide you with on-site behavior, or even something as simple as a Live Chat option on your website.
Upselling and cross-selling to existing customers
Retaining customers is important — To ensure a steady flow of revenue; to stay afloat; and to maintain a great reputation. But, to enable growth — especially in times of financial uncertainty, when acquiring new customers is a little tougher than before — maximizing your existing customer relationships is critical. Develop a strategy to captivate and engage your clients — with content marketing materials, guides, videos and regular conversations. Get to know their timelines, budgets and other business pain points you might be able to help with. Personalize their experience, make bespoke product recommendations, and remember to treat them the same way — if not better — than you did at the beginning of your professional relationship.
Re-engaging with lapsed customers
Not every customer will stick around forever. But, that doesn’t mean they won’t come back after reviewing their budget or having a less than successful experience with a customer. Knowing when a previous customer is back in the market puts you in a powerful position to strike while the iron is hot. And what’s more — they’ll already have a clear understanding of your business or product, and it will simply be a case of providing the best deal, service or experience. Discover website visitor identification: the key to transforming your customer experience and identifying when lapsed customers are back in the market.
Lead Forensics is intelligent B2B lead generation software that reveals the identity of your previously anonymous website visitors to instantly generate business leads. It works by utilizing intelligent reverse website visitor tracking technology and a global leading database of business IP addresses to track your website visitors, reveal their identity and notify you in real-time. Users are provided with the business name, contact details of key decision-makers and detailed website analytics. This way, you have everything you need to reach out to the right person, with the right information, at just the right time. Book your Lead Forensics demonstration today!