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
