Ways to Become an Experience Business

Companies that consistently provide positive customer experiences enjoy higher sales and customer loyalty.

A Forrester study comparing revenue growth at several companies in their customer experience index found that leaders outperformed laggards by as much as 24%. Other surveys (and everyday experience) also show that people are willing to pay more for a brand that consistently delivers and delights.

“We are riding an “experience business” wave. This is the battleground where all of us will compete in the foreseeable future,” says Brad Rencher, Executive Vice President and General Manager of Adobe.
Customer experience isn’t just a fancy way of saying the customer is always right. It’s a change in mindset and tactics. “Brand awareness has been replaced by brand purpose,” says Rencher. Marketing has shifted from telling people what to buy to listening to what they need, and providing it in the right way, time and place.

New technology has also made it possible to understand and interact with customers in powerful ways. Advances in big data and analytics can reveal a person’s needs and preferences for completely personalized interactions. Mobile and social media open new touchpoints. Agile, extensible experience-driven commerce solutions pave the way for powerful omnichannel campaigns.
But the big question is, “How do you use those technologies?” Rencher provides the following learnings from some of the most successful customer experience campaigns.

Know and Respect your Market

Use data to anticipate what people want, but assure them that their privacy is protected. Digital efforts should make your company feel like a personal shopper, not a stalker.
How do you tread that line? As mentioned in these rules for content marketers, most consumers understand the value of predictive recommendations. 73% are willing to share at least one piece of information. 40% of those who don’t trust companies will ease their concern if you ask permission for data. It boils down to trust: earning it, and keeping it.




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