Customer experience isn’t sexy (or is it?)
As business leaders we are faced with many options to grow our business.
What are our options?
We can invest in a PR campaign which will increase our brand awareness. With a PR campaign we get to be in the media and everyone will see how successful our organizations have become.
How about a PPC strategy? This will surely bring us new leads tomorrow and put a feather in our hat because we can equate revenue growth to the campaign.
A website redesign will give us a new polished look almost immediately.
All three have their place in business but neither will grow our bottom line organically like a customer experience strategy will. Not too long ago, I wrote a post on the #1 Reason a CEO Won’t Invest in Customer Experience (find it here) which was picked up by Time magazine (read that piece here).
Quite simply, the reason is because the financial ROI of customer experience takes time. Your customers may say they will use you again and referral you, which they will if you deliver amazing service, but that may not happen tomorrow. We have to be patient to experience the ROI similarly to how organizations like Amazon are patient.
Let’s remember, Amazon started off in a garage similar to how many of our businesses started. Jeff Bezos (Founder, CEO – Amazon) says it best, “We are willing to be misunderstood for long periods of time.” What he means is that he will invest into his customer experience even when the payback is month or years away. Let’s not argue with his logic or strategy.
I get it! Launching a PR campaign is great, we get to paint our brand with an incredibly fine brush and it boosts our ego. It does sounds like fun but customer experience is going to ensure you are operating 5 and 10 years from now because your customers will be loyal to you.
Here are some stats for you from organizations who invest in customer experience:
Amazon = $269.47/share (as of Feb. 13th, 2013)
Apple = $41B in net income (2012)
Southwest Airlines = 39 consecutive years of profitability. In the freakin’ airline industry!!!
All three organizations believe in having the right customer experience systems and programs in place to grow their business.
Wait, maybe customer experience is sexy!
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