The Millennial customer is unlike any other. These digital natives prize convenience in ways earlier generations just did not. Rigid and tight product and service verticals are failing to provide customers with these. Whether it is a bank, healthcare provider, retailer or media company, one needs to work on convenient customer experience, for enhancing customer retention rates.
Experience-oriented Pathwwway service providers are embracing this business model. This is the key to building a strong sense of customer loyalty. This disruption is sweeping markets worldwide. Instead of carving up offerings and expecting customers to appreciate what is on the table, companies meet millennials where they live, by providing services that fit into lives regardless of industry or product type.
- Meeting the Customer’s Needs
Businesses are now increasingly focused on fulfilling customer needs, rather than focusing on what they have to offer. Launching a new business as a stand-alone entity means combining simple, integrated and intuitive models that embed the company in the client’s everyday activities. A digital persona is at the heart of personalisation. Based on insights minded from digital personas, companies are monetising a wide range of activities traditionally not falling within their own specific industry verticals. Core competency is not the ability to deliver specific products, but rather to offer the same in a way that fits seamlessly into customer lifestyles.
- Redefining Customer Experience
Now, it is no longer enough to move past competitors. Customer service is expected and customers know what good service seems like. So, they focus on brands which offer the best customer experience, not just marginally better from rival brands. Relying solely on product quality cannot work. Adding convenience as a customer experience to the value offered to customers is also essential, whether you are in the B2B or B2C space. Being convenient to access has become a strong business weapon for a competitive edge. Convenience is about reducing friction. One way to do this is to empower customers through self-service, rather than making them wait in long lines. Another way is to use technology to create the benefit of convenience.
- Disrupt the Competition
Customers will pay more for convenience. It is really that simple. Choosing to do more business with people and companies make lives easier. Choosing convenience principles one can work on is important. It is convenient for customers and competition is disrupted, creating fierce loyalty. Customer engagement and loyalty strategies are essential, when it comes to building a wonderful customer experience. Convenience remains a critical benchmark for exceptional customer experience. It saves time and money. Your customer’s time is money your business cannot afford to lose. The faster customers are able to complete a transaction, the higher are repeat sales.
Customer retention is directly impacted. A convenient option of sourcing desired products or services on the web encourages customers to shop more online. The more convenience your customer can access, the more they will perceive you to be a trustworthy retailer. This increases loyalty towards brands. As a business, you need to go that extra mile to satisfy customers. Winning the trust of your customer will help you to set up a strong foundation for a long-term relationship.
- Why Convenience Counts
Putting yourself in the customer’s shoes and thinking about why customer convenience is important is valuable for any business. With the retail space moving onto the internet, F2F interaction is on the decline. Self-service is the new mantra for convenience. Business in the present digitalised world needs to focus on targeted marketing and trust building strategies.
The aim should be to focus on subtle yet effective ways to enable customers to interact with your brand. Cashing in on the complete potential of the present customer-empowered marketplace offers a complete view of the customer across organisational and customer purchase decision journey touchpoints, for every medium. With customers moving online, physical interaction has been replaced by flawless and instant customer communication and seamless customer experience.
- Bridging the Digital Divide
In the age of smart kiosks and digital branches, helping customers skip long queues is the main motivation for retailers. This impacts customer retention in vital ways. Self service or convenience are undoubtedly linked to superior customer experience. If you are looking to provide a superlative and memorable customer experience for the business, each time anyone interacts with your brand, it works to win not just their loyalty, but offer them a convenient experience as well.
Convenience is essential so businesses can make interactions memorable for customers, whether it is via upselling based on previous purchases or offering deals and discounts. Enhance the quality of customer experience and ensure customer convenience comes first if customer retention is your business goal.
Your goal should be to deliver the right information through the best platform at the correct time to the customer. This forms the essence of convenience. Make it easy on your audience to get the information they require to make a decision and enhance the journey, making it unforgettable for all the right reasons. Where friction exists, there is customer dissatisfaction. Your brand can be sure frustrated buyers and customers will seek out paths of least resistance and reach your competitors.
It is therefore important to know all about the friction points and work on them. Brands need to map and study customer journeys and discover top touchpoints, as well as sources and points of friction and how to reduce these. The customer journey is anything but linear. Prospective buyers and existing customers are increasingly self-directed in seeking answers. Turning to online research and social media, clients actively engage with brands, inform decisions and troubleshoot issues.
Marketers have the chance to create on-demand content that aids existing customers and engages prospects. Convenience is the separator between loyal and satisfied customers. Satisfaction is just fleeting, loyalty is long-standing. Your customers and prospects want to do business with firms that make lives easier. They need fast answers to their queries. Further, they need service they can count on, every time. In the end, customers want convenience.
By adding convenience to your customer retention efforts, it is essential to foster connections with prospects and customers throughout the journey. For effective retention marketing, it is necessary to think beyond just creating awareness and think about creating an experience that customers value and share with others. The best client retention stems from word-of-mouth publicity and when other people market for you. Loyalty and retention fuel each other, in a cycle that underlies most successful businesses.