As customers, we want our interactions with brands to be seamless, efficient, and tailored to our unique needs. We want to feel valued and understood at every touchpoint, from first engagement to ongoing support.

The reality, however, often falls short of this expectation.

The good news is that brands are taking note of customers’ expectations, and customer experience (CX) is becoming key to business success.

Service teams are at the forefront of shaping this experience, acting as a brand’s arm. They have the power to elevate or derail a customer’s journey. This is why companies prioritize CX within their contact centers.

Research underlines that companies prioritizing CX witnessed a significant 80% boost in revenue. Moreover, brands with a customer-centric approach see their profits soar by 60% more than their counterparts less focused on CX.

In addition, Zendesk’s CX Trends Report 2023 reveals a prevailing trend among leaders who are ready to ramp up their customer service budgets to enhance CX further. This investment in CX is echoed across various sectors, with 90% of businesses admitting to prioritizing customer experience, irrespective of their industry. 

Hetarth Patel, Vice President of Growth Markets at WebEngage, says, “Customer experience isn’t just a department or a function—it’s a value system that needs to be ingrained across the entire organization.” 

Brands providing exceptional experiences are rewarded with customer loyalty, which is critical in a market where customers have countless options. “If a brand overlooks customer experience, it’s likely to see a drop in loyalty,” Patel adds, pointing out the ease with which customers can switch to competitors if they don’t feel valued.

Echoing this sentiment, Vikas Chadha, CEO of Jumbo Electronics, highlights the cost-effectiveness of retaining existing customers, which is possible with good customer service. “Retaining a customer is five times more cost-effective than acquiring a new one, which is why customer service is critical in sustaining relationships,” says Chadha.

BUILDING A CUSTOMER-CENTRIC CULTURE 

Gartner data emphasizes the link between customer satisfaction and financial performance, pointing out that organizations that demonstrate this connection effectively are more likely to achieve CX success and secure additional funding for CX initiatives. 

“Fostering a customer-centric culture is essential for satisfaction, as it focuses on delivering value throughout the journey,” Chadha adds.

Establishing a customer-centric culture starts with leadership. When leaders commit to serving customers, employees are inspired to prioritize customer needs in their daily activities.

“Customer satisfaction is shaped by the overall experience, which is influenced by the products and services that help customers maximize the value of their purchases,” says Chadha.

He explains that guiding customers through product selection, offering post-purchase support, and demonstrating features contribute to long-term loyalty, resulting in repeat business.

Patel points to another crucial element, the importance of data and customer experience. “Many brands miss out on valuable insights from direct customer interactions. Data and CX work in tandem. Without prioritizing CX, brands are flying blind, which can lead to missed opportunities in both sales and relationship-building.” 

Patel stresses that CX is the differentiator that helps brands stand out; without it, a company’s bottom line may suffer.

Furthermore, Gartner forecasts that 80% of organizations will soon compete primarily on the battleground of customer experience.

SERVICE TEAMS AS EXPERIENCE TEAMS 

According to Patel, service teams must recognize that their role extends beyond problem-solving; they are actively shaping the customer experience. 

“Service isn’t just about delivering on a promise—it’s about creating a relationship,” he says. 

When service teams consider themselves experience teams, they can deliver value in every interaction. Patel suggests defining joint KPIs with customers to ensure alignment and mutual success. This approach can help hone customer expectations and contribute to the growth of the customer’s and the company’s businesses, fostering long-term loyalty.

Feedback loops are critical to improving service teams and essential in continuously improving services. 

Chadha cites Jumbo Electronics as an example of a company that prioritizes customer feedback by introducing services to enhance convenience, which has worked well for the brand’s improvement. 

“We believe strongly in the Net Promoter Score (NPS) as an indicator of customer satisfaction. We conduct one-on-one calls for dissatisfied customers to understand their concerns and make necessary adjustments,” Chadha says.

Chadha suggests a way to transform service teams into experience teams is by starting with KPI integration. 

“Success should be measured through a mix of qualitative and quantitative metrics that go beyond sales. While sales are important, KPIs like the number of customers served daily, the percentage of customers who receive product demonstrations, and checkout speed reflect the quality of interactions and overall experience.” 

He says metrics help gauge the effectiveness of a customer-centric approach, ensuring that every touchpoint adds value to the customer experience.

By building a customer-centric culture, transforming service teams into experience teams, and leveraging continuous feedback, companies can significantly enhance customer loyalty and stand out in today’s competitive market.

Fast Company Middle East’s Next Big Things in Retail Summit, which will be held on November 12 in Riyadh, will cover key topics in retail, such as experiential retail, traditional store optimization, and e-commerce strategies like social commerce and hyper-personalization. It will also discuss how design and innovation will play a role in reshaping the retail landscape. 

Delegates can register here.