What is a customer experience strategy?
A customer experience (CX) strategy is the plan that an organization develops to help ensure overall positive interactions and meaningful experiences for its customers over the lifetime of their relationship with the brand.
What are the business benefits of an effective customer experience strategy?
A company that develops a superior CX strategy realizes multiple business benefits, including:
- Retention. An effective CX strategy—one that ensures customers have a positive experience with a company—builds customer loyalty and incentivizes them to keep coming back to the brand.
- Cost reduction. A cohesive strategy systematizes the CX process, creating efficiencies that ultimately reduce marketing operations costs.
- Customer knowledge. A successful CX strategy creates customer information that can be used to enhance and customize customer interactions with the brand as well as create lasting emotional connections between customers, employees and brands.
- Value. A CX strategy can create shareholder value by aligning an organization’s strategy, brand and culture.