Most people consider customer experience as a crucial factor in their purchasing decisions — along with the price and product quality.

This is a good opportunity for businesses to take market share from competitors and build loyal relationships with their customers. Consider the following:

• There’s still room for improvement for most companies’ customer experience. This is a great time for those doing it right. First, to reinforce to existing customers that they are doing business with the right company. Secondly, to take new customers from competitors.
• A company’s great experience equates to ROI, in which consumers spending more on products and services, together with their loyalty. Aside from this, they also share more information to a company as they’ve grown to trust them.
• Just one bad experience can cause almost one in three consumers (32%) to leave the brand, even if they love it. This is apparent in places such as Latin America, where almost half (49%) of the customers want you to get it right from the get go.
• Speed and convenience never go out of style. More than 70% of customers consider these service concepts as non-negotiable.

Customers now expect more from customer service and experience. They no longer just compare you to direct competition — they compare you to anyone who delivers a great service. The latest trends that pop out are worthy to consider in building a better customer experience. Read on:

1. Personalisation delivers real-time and relevant experiences to customers. There are actual sites that recognise and welcome customers back!

Data can drive personalisation. Using this data, Artificial intelligence (AI) can categorise your customers into groups based on their past transactions, buying patterns, support issues, etc.

This can help you track what your individual customer prefers, which allows your company to make more relevant suggestions.

2. An effective FAQ section on a website is a good self-service solution, assuming it has the right information and easily navigated.

You can also setup your company’s Youtube channel, as videos are an excellent tool as well. It can be in the form of a tutorial or any fresh content that customers would be interested in.

3. Social customer service engagement is inevitable, debunking the notion that it’s just for responding to complaints.

Utilising the right technology is crucial, but it’s not the only thing. For lower level support tasks, AI and chatbots are great for making changes on an address, or credit card payment updates.

4. The best companies know how to strike a balance between digital and human. More than 80% of Aussies prefer more human interaction in the future. People are always the better fallback when technology starts to cause trouble.

Consumers have high demands and expectations from the brands they do business with. Rightly so, and you want them to keep coming back. Hence, you better get the customer experience right from the start.

Small business loans in Australia

Cigno Business Solutions offers small business loans, with an online application process that’s as simple as possible.

CBS offers a flexible range of loans up to $10,000.

In order to complete the application, you’ll just need to have:

• a registered ABN
• a 90-day bank statement

Start the application process here!