In a recent report, McKinsey perfectly captures the need for an improved customer experience in today’s marketplace: “The recent shifts in consumer behaviors and expectations brought about by COVID-19 are forcing companies to change how they connect with and serve customers. History clearly shows the value of investing in customer experience during a downturn. In the last economic recession, companies that prioritized customer experience realized three times the shareholder returns compared to the companies that did not.”
Today, the number one thing every single consumer wants is an effortless, high-value experience. Notice I said “effortless.” This is a notable shift from years past, when the goal was to delight customers. But today, customers care less about special touches, and more about seamless, intuitive and flawless experiences. Research supports this, with 55% of people willing to pay more for simpler experiences and 64% of people are more likely to recommend a brand that delivers simple experiences.
We’re in the midst of “The Experience Economy” based on the concept of selling experiences rather than products, and fostered by the “everything consumer.” Today’s customers want things quickly and easily . Take Dominos. The pizza company is the first to innovate the fast food delivery experience by testing driverless delivery robots. This enables Dominos to reach more customers faster, improving the quality of food when it arrives too.
It’s this type of thinking differently that is mandatory for companies moving forward. New and innovative solutions that create unparalleled experiences are necessary to keep consumers interested and loyal to your brand. Being part of this technological revolution has fundamentally altered the way we live, work and relate to one another—and the companies that embrace this shift will be the ones to succeed.
Peloton gets it. At the end of the day, it’s a cycle class. But what they give every single user is an unrivaled physical and emotional experience rooted in community. Even users who swore they’d never do a spinning class find themselves riding every week, with their favorite instructors and ride-along buddies. With regular shoutouts from instructors, and high fives from fellow riders, the workout becomes a coveted and special experience instead of a way to burn calories. People are buying the experience, not just a spin bike.
It’s clear that companies need to focus on building seamless and simple experiences for their consumers. This starts at the top: the C-suite and executive team need to understand and subscribe to the importance of this shift in focus. The team needs to work together to identify and pursue the ultimate, effortless customer experience. Here are three ways to create experiences that matter.
1. Remove Barriers Your Customers Are Telling You About
This incredible stat from recent research highlights just how important customer experience is: “Companies that fail to provide simple experiences leave an estimated share of $98 billion on the table.” Giving your customers an easier way to access or experience your product is what they want.
It’s critical to listen to customers and learn from what they are saying—and more specifically, what they want and need. Depending on your product or service, the way to create a better overall experience will be different, but be sure all unnecessary barriers are removed and your focus is on creating ease.
2. Use The Right Technology
Put experience at the very core of your company’s ecosystem. Once the company is on board, you’ll see that communication and collaboration across this new shift is dramatically different. Companies that want to truly change the experience for their customers will need the right technology and communication platforms to support the heavy lifting.
3. Consistency Is Key
No matter where you are in the world, you can order a caramel macchiato at a Starbucks and it will taste exactly the same. For coffee drinkers, this consistency in flavor and experience breeds undying loyalty. Starbucks isn’t doing anything fancy, they’re just literally providing a consistent and easy experience their customers can count on.
It’s the same with Amazon. No matter what you purchase, if you don’t like it, you can return it. Knowing this gives shoppers confidence to try new products—and to return to the safety of shopping on Amazon.
The importance of delivering an effortless and simple experience is critical in the post-pandemic marketplace. Customers expect nothing less and will find a company that delivers what they need if you won’t. The time to take action is now.