There is an often-repeated mantra in business that it is easier to grow your business by doing more business with existing customers than by acquiring new ones. The goals of customer experience improvements are to actualize that mantra. Based upon a recent conference I attended, one might have come away with a very different point of view – that the goals of Customer Experience (CX) are to increase customer acquisition and conversion.
At this conference, speaker after speaker discussed ensuring a good or strong CX from the very first touch point the prospective customer had with their firm. The very first touchpoint. There was a lot of conversation around first impressions. Ease of doing business. Ensuring a quality experience through lengthy and extended sales cycles. Plenty of thoughts around how the entire ecosystem has to be considered to ensure these prospective new clients were getting everything they needed in order to ‘convert’ and become actual customers. And herein lies the rub. While all of the above is true, customer experience is about a lot more than just customer acquisition.