Personalized Customer Experience Increases Revenue and Loyalty
Consumer Products & Retail
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Personalized Customer Experience Increases Revenue and Loyalty
A personalized customer experience is the key to maintaining a sustainable relationship with your customers and simultaneously increase the revenues of your business.
The concept of customer experience is becoming increasingly relevant. Therefore, in order to differentiate themselves, companies must provide services that fulfill the specific needs of each of their customers. The author of this article, Shep Hyken, stresses the importance of the personalization of services with the aim of improving the satisfaction and thus increasing the loyalty of the customers. At the same time, we learn that the personalization of the customer experience is directly linked to the growth of the revenues of a company. As a matter of fact, according to the last study conducted by Segment, consumers are willing to spend more if they receive a bespoke service. For example, below are four major facts revealed by the research:
- Customization leads to impulsive purchases: 49% of customers have purchased items that they did not intend to buy because of a personal recommendation of the company.
- Customization leads to an increase in revenues: 40% of consumers say they have bought something more expensive than planned due to a personalized service.
- Customization leads to fewer returns: only 5% of impulsive purchases (mentioned above) have been returned and 85% of impulse buyers were satisfied with what they purchased.
- Customization leads to loyalty: 44% of consumers say that they are probably going to repeat a purchasing experience as a result of personalized service.
The author ends by stressing the importance of knowing your customers and their expectations in order to offer them a personalized customer experience. Otherwise, they may be driven directly into the arms of your competitors.
Would you like to learn more about your customers and be able to better personalize your services according to their expectations? Contact us to set in motion your own personalized customer experience program.
