The Importance and Value of the Customer Experience

Many companies are actively seeking to understand their customers to design and deliver an enhanced customer experience. With 74% of surveyed retailers and suppliers stating that “understanding consumer preferences” is critical to their strategy, it appears that creating better customer experiences is catching on and with good reason. The number of interactions with customers is increasing through new, digital devices which means if a company is not expanding its customer experience into the digital world, its competitors are doing so. While an excellent customer experience does not immediately translate to the bottom line, it does foster the gift that keeps on giving: loyal customers. There is little doubt that as the digital revolution continues and customers crave more from their interactions with companies, a winning strategy will hinge on good customer experience.