If you’re a long time reader of Digital Pulse, you’ll know that we place a lot of importance on experience. Whether employee or customer, a good experience is not just a nice-to-have, but imperative for businesses that want to differentiate themselves from the increasingly growing pack.
Experience-led organisations that create places that people want to work are four times more profitable, generate double the average revenue and yet, are 25% smaller than their non-experience led cousins. And brands that offer great customer experience (and by this, we mean polite, convenient and efficient – not flashy bells and whistles) can expect customers to pay 16% more for their goods and services.
It should seem obvious that a helpful, pleasant engagement makes for a happy customer. But nevertheless, many brands don’t understand the monetary implication of such a strategy. Even something as simple as a replying to a customer’s tweet – regardless of whether the customer was happy or angry – will lead to that customer being willing to pay more.
As the below infographic shows, this holds true for email marketing too, with various research showing that a personalised email will deliver 6 times higher transactional rates and a median return on investment of 122%. With better open and click-through rates, some personalisation or segmentation seems like a no brainer.
Don’t you agree, [insert name here]?