The Macquarium Blog | CX

Customer Experience Is More Than Customer Acquisition

Posted by Ira Gross on Jul 10, 2017 4:45:00 PM

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.

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Topics: Customer Experience, CX, Customer acquisition

What is the value of Customer Delight in self-service experiences? (Hint: not as valuable as you might think)

Posted by carlos.pimenta on Jun 26, 2017 2:03:00 PM

Find yourself in a group of customer experience (CX) professionals, and phrases like “delighting the customer” or "creating moments of wow” will pepper the discussions. You will learn that delighting your customers will result in increased loyalty, share of wallet and a positive word of mouth.  Few would argue that delivering a great CX provides you a competitive edge, but what return should you expect from delighting the customer?

 

Customer Expectations and "Moments of Wow”

At the Customer Experience Professionals Association’s conference in Phoenix this year, the Corporate Executive Board presented some interesting insights from The Effortless Experience.  The author of the book Matt Dixon cited a study with over 125,000 people who had interacted over the phone with contact-center representatives or through self-service channels such as the web, voice prompts, chat, and e-mail.

 

Conventional wisdom is that exceeding customer expectations deepens loyalty, however the study detected only a slight increase in loyalty after customer expectations had been met. It turns out that creating delight consistently is difficult and only succeeds in 16% of the interactions with an incremental operating cost between 10 to 20%.

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Topics: User Experience, Customer Experience, User Centered Design, CX, UX