With markets becoming more saturated, business often find themselves in competition with other companies as they vie for customer attention. Stiff competition indicates that businesses must tap into their customer experience strategies to truly stand out and continue gaining momentum. Delivering great customer experience has become crucial in maintaining and driving growth, and when done correctly, can prove monumental in impacting businesses’ bottom lines. Just as these strategies can positively affect businesses, when executed poorly, they can become common pitfalls that can ruin your customers’ experience.
Missing out on technological advancements proves detrimental to any business. As technology continuously gains more traction on consumer behavior, companies should capitalize on customers’ reliance on their smartphones to create personalized and relevant experiences. These customized experiences allow businesses to analyze and predict what consumers need and want in order to deliver strong results.
This knowledge is crucial, as it ensures businesses remain on the correct track. Businesses that focus strictly on gauging success are more prone to losing sight of their customers’ importance. As consumers fuel profit and growth, businesses have to keep consumer needs and desires—streamlined checkout processes, relevant landing pages, and efficient loading pages—at the forefront of their strategies.
Businesses that rely on media metrics too heavily may also find themselves running into complications. While the information may prove interesting, measuring only site visits and cost per clicks is not conducive to growth. Instead, businesses should focus on Tracked Performance and True Performance data.
Tracked Performance analyses when customers arrive on sites and convert. This data allows businesses to track customer lifetime value (CLV), app downloads, and search performances, which can provide insight as to which company strategic decisions are working.
True Performance can analyze similar data as Tracked Performance, helping to identify valuable customer interactions. This collected data can then assist businesses in optimizing media and assets to reach consumers who are more likely to engage or convert. With this information, businesses are less likely to cater to the wrong customers, and can invest in reaching the proper audience.
Failing to act on data is another pitfall that affects businesses. Through website apps and other channels, businesses can identify customer behavior signals that provide a better understanding of consumer behavior, needs, and likeliness to convert. This data can provide creative strategies that positively drive profit and growth. By not utilizing this data, businesses are less likely to understand their consumer base and develop beneficial strategies based on predictable behaviors.
All of these pitfalls cumulate to prove detrimental to a business’s progress. Businesses that develop technologically-informed customer experience strategies are more likely to reach high-value customers and experience profit and sustained growth.