Above are two terms that we at Lone Star Communications use on a regular basis, we read about on social media, hear at industry events, both widely used interchangeably, and that is a significant problem.
Much like gross margin and gross profit, they are two very different entities. It’s important to know the difference and the impact of each, so that when we discuss these, we are all on the same page. As we move forward and seek the input of this Team and our customers, in both, it’s important we know the difference, and can speak to both. Let’s get into it!
Every interaction, every touchpoint that Lone Star Communications has with a customer, is a part of the customer experience. This includes our entire business relationship from the moment someone first hears about us, investigates the Lone Star brand, researches our website, talks to their counterparts that have used our services, contacts a salesperson, and then becomes a customer.
This is a customer support function of a business, usually isolated to an event. It involves customer-facing departments, providing help, or answering questions for the products or services that Lone Star Communications is providing to the customer. Most of these events - like CCV (Customer Care Visits), inspections, response times, correcting issues on the first visit - are measurable.
I know what you are thinking, Customer Service is one piece of Customer Experience. Yes! That is correct, and both are critical to the long-term success of Lone Star Communications.
Why am I even talking about this? I want to make sure we have a clear focus on both, but a strong understanding of the difference. I also want to draw everyone’s attention to the fact the every single one of us, everything about the Lone Star brand impacts the Customer Experience.
Here is some data on Customer Experience:
- 86% of people will demonstrate brand loyalty when provided good customer experiences, leading to 140% more money spent, along with creating brand evangelists (look at our flywheel for this cog) who will promote your brand
- More than 85% of customers are willing to pay more for a better experience
- 97% of customers consider reviews before making a purchase (think about letters of reference)
- According to Gartner, 89% of companies compete primarily based on customer experience
- One in Three customers (32%) will leave a brand they love after just one bad customer experience
- Emotionally attached customers are up to 110% more valuable in terms of revenue and profitability
o 95% of purchasing decisions are made subconsciously (emotionally)
- Customer Experience will become the number one brand differentiator, over products or services in 2021.
Lone Star Communications will continue to reimagine our business practices (what it takes to deliver the ultimate customer experience) to create evangelical customers. It is no longer enough to have the best products; competitors have closed that gap. It is no longer enough to say we provide great service; everybody claims that and is hard to quantify.
Everything we do has to be thought of as the Lone Star Communications brand, not individual components of a business. Social media, marketing, website presence, customer service, operations, sales, service, all the touchpoints must be aligned to provide an unrivaled customer experience.
What are you doing every day to move the needle on our customer experience? What can Lone Star Communications do to create separation from our customers that can’t be matched? What about the Lone Star Communications brand?