- August 15, 2022
- Posted by: IRA Coaching
- Category: Blogs
Not too long ago, most businesses focused on customer needs, product quality, and customer satisfaction. Today, things have changed.
According to the India Insuretech Landscape and trends report, the new-age customer lives in the moment with 37% trading down on possessions for spending on experiences and memories. The report found that they value convenience with 57% spending on time-saving products/services and seek individualistic choices with 56% opting for personalization even at an added cost.1
Clearly, customers, today value their experience with a company more than the quality of the product and its ability to meet their needs. A stellar experience leads to customer satisfaction, loyalty, and eventually, business growth. So, what is customer experience?
Customer experience is defined as the sum total of all experiences that a customer has with a company throughout his/her customer journey – at every stage and every touchpoint. Whether it is a direct contact at a point-of-sale location or indirect contact through news reports or advertisements, it’s the experience that matters. And what makes for a good experience?
A good experience is easy, fast, and consistent at every touchpoint. Therefore, it is important to invest in optimizing the customer experience across all channels. And delivering a good customer experience starts by understanding the customer, their needs and wants, optimizing all channels with a focus on creating real connections with customers. How a company makes a customer feel at every touchpoint will spell the difference between customer delight and dissatisfaction.
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References:
1. india-insurtech-landscape-and-trends-2022.pdf
