Businesses lose $102B due to churn, not because a customer didn’t like the product, but simply due to a bad experience.
Our team at swivl is committed to helping companies reduce churn and grow revenues by personalizing and optimizing each touchpoint of their customers’ user journeys.
Tie in Emotion to your Customer Experience.
Acquiring a customer is only the first step in the customer journey – and, decidedly, the most important event for the sales team. Let’s face it, customer success is comprised of many touch points: Sales, marketing, onboarding and training, and customer service. It is essential that these teams NOT be siloed, but act and move as a unified team in order to create valuable long-term relationships with customers.
What are the most important aspects of the Customer Experience?
As Mark De Bruijn, Head of Marketing EMEA & MEE at SAP Customer Experience, discusses in his article, Bringing Emotion Into The Customer Experience, “In the unbridled hunger for data it’s easy to forget that, as a brand, we focus on people. Therefore, it is not data, but emotions that should be central to the customer experience.”
Most brands do not understand nor invest in the resources needed to create personalization to realize real Customer Success (CS). There are four elements of Customer Experience which contribute to overall CS.
- Positive Emotional Response: Emotion is often a response which cannot be controlled. It is an important factor defining the strength of a customer relationship and very necessary in order to build long term loyalty. Unexpected negative emotional responses can destroy relationships in a few minutes which may have been years in the making.
- Personalization: While personalization is one of the newer elements of measurement in the customer experience – it is now recognized as the most important contributors to creating positive emotions and thus customer loyalty.
- Trust: You can think of trust in two ways – Confidence (belief that a company can provide a quality product or service) and Benevolence (a customer’s belief that the company puts its customer’s interest above their own).
- Ease of Product or Service Delivery: How easy it is to complete the transaction without “customer sacrifice” of time or effort. It is critical to make it as easy as possible for a client to get answers to questions and easily navigate to complete the transaction?
These are the most critical elements because each interaction between a company and its customer ultimately contributes to improve or impair brand loyalty. A customer’s emotion about a brand affects their engagement and purchase behavior, either consciously or perhaps even unconsciously. Bottom line, negative emotions can derail a relationship with a customer.
Additionally, fostering strong, positive emotional connections with customers can deliver financial gains. According to their article What Separates the Best Customers from the Merely Satisfied (based research published in the Harvard Business Review), Scott Magids, Alan Zorfas and Daniel Leemon speak to “customers who have a strong emotional bond with a brand have a value of 25% to 100% more than customers who are merely satisfied.” Further, to assess how well a brand is doing at this, they developed the “emotional connection score” (ECS), which measures the share of a brand’s customers who are fully emotionally connected to it. Clearly, brands with low scores are leaving money on the table, mistakenly believing that their work is done if their customers are, simply, happy with the brand.
How do CS teams create that emotional connection and why is it so difficult to accomplish?
Limited bandwidth is one of the biggest complaints across startups and growing companies. Teams are spread thin as tech teams are pressured to release updates while maintaining integrity, sales teams are pressured to increase the sales pipeline, and marketing is tasked with finding new lead sources. Often CS teams are the last in line to receive additional resources.
One key to success is the ability to scale CS teams by leveraging tools that allow improved efficiencies while creating meaningful personalized experiences in order to drive value for customers.
This is the underlying reasons behind swivlStudio. We invite you to meet Hoover and explore the platform.