The digital age has paved the way for many new changes in the way we live. From simple daily tasks to highly specific needs, the new digital boom has made its mark. One of the aspects greatly affected by this ongoing phenomenon is the way consumers and businesses interact with each other. The flourishing of social media and the power of the internet has given the consumers a kind of power they never had before. And with new power comes fundamental changes in the consumers’ habits, practices, and behaviors. Thus, for a business to adapt and thrive in this new on-line age, they must learn to understand how customers think and behave, and what options the customers have, in order for them to know how to cater to their customers’ needs.
One of the biggest changes technology has brought is the accessibility to anything and everything. With the touch of a finger, a customer can find all the choices and alternatives available. That means they can also find the business’s competition. Unlike the old days when a customer is inside a store and they either make do with what they’re getting or go through the hassle of leaving and looking again, these days customers have a more complex buying process. It is no longer black and white. They are no longer exclusive and they have the option to be as fickle as they want to be. As such, customer loyalty becomes a hard-earned prize.
Since customers have all the power, their decision to go with one company over another then comes down to their experience. Customer experience can be a huge factor when it comes to customer retention and loyalty. Winning them over may result to a lifelong relationship, and this is what businesses must understand.
Customer experience is based on what the customer goes through the moment he enters the doors to the moment he leaves with his purchase or service. It is determined by the opinions he forms, the interactions he has with the staff, and the user experience with the product. It even involves things as simple as the mood and the feelings being in the store gives him. A consistent positive experience, plus that something extra, could assure a customer’s loyalty for life. Make no mistake, though; there is no template for a positive customer experience. Every individual has their specific wants and needs, and addressing this for each customer can go a long way. The more valued they feel, the more they would give value to the company.
With a customer’s loyalty also comes some perks. For one, loyal and satisfied customers tend to be more flexible and open when it comes to price. They can pay more because they see and acknowledge the value of their money and a company’s product or service. Their good word can also be good publicity, inviting more people to become loyal customers as well.
On the other hand, disappointment comes at a steep price. When a company fails to meet customer expectations, it almost always results in losing that customer. The ease in which customers can shift brands is so easy, that customers need not wait for corrections. Social media is also such a huge factor that bad publicity is just bad publicity. When a disappointed customer takes to social media all that is left to be done is damage control for the company. Reacting quickly makes a world of difference in preventing more harm to a company’s product or service. Again, it comes down to appeasing the customer’s needs and providing them with an experience they will not find anywhere else.
Once a business takes these things to heart and understands that in this digital age the customers have all the power, then they are on the road to meeting success and garnering their customers’ lifelong loyalty.
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