Beyond Products and Services: Why Customer Experience (CX) Reigns Supreme?
Executive Vice President
Customer experience will define the winners and losers of tomorrow – Forbes.
Building trust helps insulate your business from future crises – Niki Hall, CMO at Contentsquare.
A brand is defined by the customer’s experience. The experience is delivered by the employees – Shep Hyken, CX expert.
Every contact we have with a customer influences whether or not they’ll come back. We have to be great every time, or we’ll lose them – Kevin Stirtz, Party Center Software.
91% of organizations said they aspire to be among the customer experience leaders in their industry…yet only 37% have started any kind of CX management initiative – Tim Walters, Sprinklr
You can’t transform something you don’t understand. If you don’t know and understand what the current state of the customer experience is, how can you possibly design the future desired state? – Annette Franz, SmartKarrot.
Your most unhappy customers are your greatest source of learning – Bill Gates.
Focusing on the customer makes a company more resilient – Jeff Bezos.
You’ve got to start with the customer experience and work back toward the technology – not the other way around – Steve Jobs.
Whatever you do, do it well. Do it so well that when people see you do it, they will want to come back and see you do it again, and they will want to bring others and show them how well you do what you do – Walt Disney
What Do These Ten Quotes Have in Common?
These ten quotes stress the importance of customer experience. It does not talk about the products, services, or offerings. It specifically talks about how well you treat your customers and the experience you offer them across their journey with you.
Customer Experience is the sum total of all the interactions a customer has with your brand.
CX has become the product now – it is the differentiator that would make or break any organization and its growth.
How Do You Make CX the Differentiator?
You can follow some of the strategies listed here to make CX your differentiator in the marketplace. I have thrown in some real-life examples and statistics related to these strategies.
Strategy 1 – Understanding Customer Needs
Through its deep understanding of customer needs and customer expectations, Amazon offers personalized product recommendations based on browsing and purchasing history.
According to a Salesforce report, 76% of customers expect companies to understand their needs and expectations.
Strategy 2 – Personalization
Spotify curates personalized playlists for each user based on their music preferences, enhancing the music streaming experience.
Infosys found that 59% of customers who have experienced personalization believe it has a noticeable impact on purchasing decisions.
Strategy 3 – Omnichannel Experience
Disney’s Magic Band allows visitors to access theme parks and hotels and make payments, providing a seamless and frictionless experience.
Harvard Business Review reports that companies with robust omnichannel customer engagement strategies retain an average of 89% of their customers.
Strategy 4 – Quick and Effective Customer Support
Zappos is known for exceptional customer support, with legendary stories of representatives going above and beyond for customers.
Zendesk’s customer experience trends report found that 75% of customers believe it takes too long to reach a live agent.
Strategy 5 – Proactive Communication
Delta Airlines proactively updates passengers about flight delays or gate changes through their mobile application.
A study by Superoffice found that 86% of customers are willing to pay more for better customer experience.
Strategy 6 – Continuous Feedback and Improvement
Airbnb continuously uses customer feedback to improve its platform, leading to better user experiences.
According to PwC, 73% of customers point to customer experience as an important factor in purchasing decisions.
Strategy 7 – Creating Emotional Connections
Coca-Cola’s “Share a Coke” campaign, which personalized Coke bottles with customer names, fostered emotional connections.
Watermark Consulting found that CX leaders outperformed CX laggards in stock returns by a significant margin.
Strategy 8 – Leveraging Technology and Data
Netflix’s recommendation algorithms use data to offer a personalized viewing experience.
A Walker study states that customer experience has overtaken price and product as the key brand differentiator.
The evidence is clear: organizations that invest in CX outperform their peers, enjoy higher customer retention rates, and ultimately drive sustained growth. It’s not merely a trend – it’s a fundamental shift in how we do business.
Today, choices are abundant for customers, and loyalty is hard-earned. Organizations that understand the supremacy of customer experience are best positioned for success – they are the ones who don’t just meet expectations but consistently exceed them. They recognize that customers aren’t merely looking for a product or service; they’re seeking a journey, a story, and an authentic connection.
Your success lies in the smiles of satisfied customers, the stories they share, and the loyalty they bestow.