Three Reasons Why The Customer Experience You Provide Can Make or Break Your Business

You’ve probably heard talk about the importance of “customer experience” when it comes to growing your business. But have you ever wondered why it’s so important? Below are three reasons that it pays to create a brand and a business that is known for providing a stellar customer experience.

1)     Your business becomes immune to price undercutting.  Once your customers have experienced the unparalleled experience your business provides, it will be very hard to persuade them to go anywhere else.  Do you own an iPad, or do you know someone who does?  Ask them how likely they are to purchase a different tablet in the future, simply because it is priced more cheaply.  If you surveyed 100 users, you would be hard pressed to find more than one or two who would consider switching.  Why?  Because the iPad is an exceptional product and provides great value to its users.  Back to your business: the reality is that, from time to time, you will have to deal with competitors undercutting your prices.  But by building a brand centered around your unique and exceptional value, you render yourself immune to your competitor’s strategy. 

2)     Your business builds a loyal following.  If you attract new business simply by offering low prices, you can expect them to be loyal customers—until they can find lower rates elsewhere.  On the other hand, by marketing the unique value provided by your business, you will attract customers that appreciate the value you provide.  They won’t leave you in the blink of an eye—because the value you provide can’t be easily duplicated by your competition.  Sure, low prices are a great way to bring in new business.  But they’ll leave you just as rapidly as they found you.  Providing value enables you to build a loyal following—and to keep them for the long term.

3)     Your customers spread the word via word-of-mouth advertising.  Providing a great customer experience will lead directly to the most effective form of advertising known to mankind—authentic word-of-mouth advertising.  When your customer has a great experience, human nature means that he or she is very likely to tell a friend or a family member.  Over time, your business will build a reputation for quality care and service—and you can count on bringing in new customers who are eager to experience your business for themselves.

Customer experience matters—and it’s important that providing an exceptional experience becomes an integral part of your brand. It will pay dividends!