Expectations to create a great customer experience are rapidly rising. And consumers are rewarding and penalizing companies accordingly.
Provide a great customer experience, and you’ll have a loyal customer who will not only be your advocate, but also be willing to pay a 16% price premium.
Disappoint a customer with a less than stellar experience, and you’ll see negative reviews, abandoned carts, and a greater percentage of one-time customers. 65% of customers say they’ve changed to a different brand due to poor CX.
And, while expectations vary some across industries, consumers are no longer drawing hard lines between retail and manufacturing, between banking and logistics, or between private enterprises and the public sector.
Expectations are carrying over, increasing pressure for improvement in industries that have historically lagged in providing excellent customer experiences. In fact, 62% of customers say their experiences with one industry influence their expectations of others.
These Increased CX Expectations are an Opportunity
Brands who meet or exceed these increasing demands will reap the benefits of increased customer loyalty. On average, companies that emphasize customer experience increase their revenue nearly 2x times faster and grow their customer lifetime value by 2.3 times.
With these continually increasing customer expectations, it’s obvious that merely tweaking your current customer experience won’t be enough to keep pace. And focusing solely on a digital transformation addresses only a portion of these increasing expectations. A total customer experience transformation is critical for today’s companies to be tomorrow’s leaders in customer satisfaction, brand loyalty, referral business, and profitability.
Accomplishing a true CX Transformation requires your organization’s top-to-bottom commitment to understanding your opportunity, envisioning your path forward, delivering your solution, and measuring and optimizing your outcomes. And it doesn’t happen overnight. According to Forbes, companies are often not able to measure the benefits of a CX Transformation for 22 months after the transformation is complete.
But it’s commitment that pays dividends. An effective CX Transformation creates bonds between companies and their customers, bonds that lead to greater customer loyalty. Leaders in CX Transformation experience a cumulative return nearly 3.4 times greater than companies that did not incorporate customer experience into their business strategies.
It’s a Change We Must All Make
Transforming customer experiences is not only what we do here every day at G2O, it’s also at the heart of our own evolution.
We’re evolving our business, our offerings, and the way we partner with our clients to ensure we are even more effectively and holistically helping transform our clients’ CX and achieve the growth goals they’re focused on.
And that’s exactly why we wrote the words below—our brand manifesto if you will. They tell our story. And they convey our unwavering commitment to helping you experience the powerful benefits of total Customer Experience Transformation.
G2O Manifesto
At G2O we believe in the power of more.
We believe that truly great customer experiences create more meaningful connections between brands & the people they serve.
We believe that human-centered design means more than it ever has for creating loyalty that lasts.
That when deep analytics and technical expertise come together, they deliver far more impact than the sum of their parts.
And we believe those truths mean brands & businesses need more from their partners.
They need a partner that’s more tailored, more nimble, and more flexible than a big consultancy.
And one that’s more scalable and impactful than a digital agency.
At G2O, we’re driven to solve your most complex problems with tailored solutions.
And we believe that deliverables only matter when they actually deliver results.
Results that are more than the expectations you started out with.
We’re G2O. Your Partner for Next.
To learn how we can be Your Partner for Next, please reach out. We’d love to discuss the potential of your Customer Experience Transformation.