Business growth is found in the consumer experience.
The future of growth for many businesses will be found in and throughout the consumer experience.
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As business leaders look for new ways to grow their brands, products and services, they’re usually finding themselves coming back to their consumer experience. This emerging area of business is not only a goldmine for business growth, but is quickly becoming a driving force in a purchase decision from consumers. In fact, by 2020 (next year) the consumer experience will become the number one driver for purchase decision (surpassing price and product efficacy).
“86% of consumers will pay more for a better customer experience. However, only 1% say they get that from the companies they purchase from. ”
When we work with our clients on their consumer experience strategy, we focus them on three areas off the bat.
Make it really easy to do business with you
Consumers don’t have the time they once had to shop for and purchase many products. This need for saving time is becoming a driving force for purchase or defection. We first look at how easy it is for a consumer to do business with your company. If it takes 3 clicks to purchase a product when it takes one on Amazon, that’s an opportunity to optimization. When a competitor can deliver a product to a consumer’s home within a day and yours takes 5-7 business days, that’s an opportunity for optimization. There are moments like this for every business. Get this right first before anything else.
Find new value propositions to offer your consumers
While the consumer experience becomes more streamlined and simplified, we usually find new ways to add value for the consumer. This is a huge opportunity to find incremental and new revenue streams for the business. This can take form of subscription models for your products or services, completely removing the need for repeat purchase. Another form could be increased experience customer support offerings that come along with a product purchase.
Truly live your brand
Finally, we advise our clients to use these new opportunities to truly let your brand come to life. We believe that advertising and communications is a great way to communicate your brand promise, but the consumer experience is that opportunity to truly fulfill that brand promise. We look at all aspects from transaction, to the purchase process to the follow up service post purchase to find ways to have the brand come to life for the consumer.
How is your consumer experience coming to life for your consumer?
Ready to chat more, feel free to reach out.