How much do we know about our customers?
According to Adobe, 66% of consumers are willing to abandon if they don’t find personalized content. With so much data at our disposal, how much do we really mine to understand our consumers and design consumer-centric experiences?
The Temkin Group found that companies earning $1 billion a year can expect to earn, on average, an additional $700 million within 3 years from investing in customer experience.
For SaaS companies in particular, they can expect to increase revenues by $1 billion.
Investing in CX initiatives has the potential to double your revenues in 36 months. But where does this revenue growth come from? The client’s portfolio:
A good customer experience means our customers will spend more.
In fact, 86% of shoppers are willing to pay more for a great customer experience.
The more expensive the item, the more they are willing to pay, according to PWC research.
For example, customers are willing to pay a premium of up to 13% (and as much as 18%) for luxury and indulgent services simply to receive a great customer experience.
CX also influences on-site purchases, as 49% of shoppers have made impulse purchases after receiving a more personalized experience. But the most compelling reason why CX has become so important is that customer experience is overtaking price and product as the key brand differentiator.
With the evolution of customer relationship channels, measuring customer experience (CX) has become more difficult. Today, customers move from one touchpoint to another before finally making a purchase.
There is also a wealth of information at our disposal that can be enriched with both public and private sources to gain a full understanding of our buyer personas and design better strategies towards these segments.
At enacment we specialize not only in building cross-platform applications and experiences, but also in leveraging this data for more connected user experiences.