Consider the last time you felt frustrated with a product or service. Was it user-friendly and efficient? Probably not. Now consider the last time you were happy with a product or service. Was it user-friendly and efficient? Probably!
Such customer experience (CX) has become an integral part of the modern economy. In the digital era where a negative Yelp review could sink a restaurant, it’s more important than ever to ensure that every customer’s experience with a product or service is maximized. By providing the ideal CX—including a responsive website, timely customer service, and clear information—businesses can facilitate creating happy, satisfied, and positive-review-giving customers.
CX is of equal importance in every industry: even the most unlikely companies out there can increase their customer satisfaction by improving their CX. Although CX is just one element of creating a thriving business, it is increasingly important for the success and reputation of the modern company.
Why Should Businesses Focus on CX?
The economy is transitioning from services to experiences. “Experiences power our modern economy…where consumers make purchasing decisions based not simply on product features but also on the experiences they facilitate.” With hundreds of online options out there, customers are likely to take their business elsewhere if a company’s CX does not meet their expectations.
“Customer experience will continue to be a pivotal piece in how companies do business, gain brand ambassadors, and become memorable for consumers in a crowded and increasingly digital marketplace.”
The Internet and social media make sharing CX experiences easy. Because of this, many customers depend on online reviews and opinions to make buying decisions. One negative review can permanently mar a company’s reputation; it’s no wonder that many businesses go above and beyond to receive a good online customer review.
Companies That Value CX See Great Success
Jet Blue Airlines
Jet Blue is developing a software that gives flight attendants extra information to help serve each passenger. When passengers have frustrating experiences before or during the flight, attendants are notified so that they can offer extra perks and pick-me-ups.
In the past, Delta’s programs to improve CX have focused on the overall reliability of the airline; in order to do so, they “sharply reduced cancellations and found ways to run closer to on-time.” Delta is currently focusing its efforts to maximize CX on the coach cabin by giving coach passengers the same perks as first-class passengers. Because of this increased customer-oriented CX, Delta’s 2019 profits almost exceeded United Airlines and American Airlines’ profits combined.
U.S. Bank’s award-winning branch design “merges digital with physical. A centrally located learning zone, renamed ‘Digital Discovery Center,’ offers education resources through digital touchpoints. Interactive Teller Machines were also introduced to give customers a choice in how they complete their transactions.”
The judges commented, “[this] combination of a modern interactive experience and a personal touch . . . makes the customer feel like they can take care of important financial issues with speed, efficiency, and a sense that the bank really values their business.”
In every example, CX success is found when the company focuses on the individual needs of its customers. However, such a task doesn’t necessarily involve obtaining more customer-oriented staff. Jet Blue, Delta Airlines, and U.S. Bank were able to make drastic CX improvements by implementing new software, technologies, and programs. These changes were tailored to the needs of the customers, which enabled these companies to increase profits, gain happy customers, and receive praise.
CX is growing in importance. Here’s what you should remember:
- CX focuses on end users (the consumers of a company’s final product) and their needs, desires, and abilities.
- Our modern economy is experience-focused.
- The Internet and social media enable experiences to be shared easily.
- Good CX helps businesses stand out in a crowded digital space.
- Companies that value CX see success.
Last Updated 7/11/20
IDC, “Spending on customer experience (CX) technologies worldwide in 2018, 2019 and 2022 (in billion U.S. dollars),” Statista Chart, August 6, 2019, accessed October 28, 2019, https://www-statista com.erl.lib.byu.edu/statistics/1040257/worldwide-customer-experience- technology-spending/.
J. Robert Rossman and Mathew D. Duerden, Designing Experiences. (New York: Columbia University Press, 2019).
PR Newswire, “New Report Finds Customer Experience is Key to Brand Success in 2019,” Markets, Business Insider, March 5, 2019, https://markets.businessinsider.com/news/stocks/new-report-finds-customer-experience-is-key-to-brand-success-in-2019-1028004488#.
Sara Castellanos, “JetBlue to Take Customer-Service Tech to the Skies,” The Wall Street Journal, October 1, 2019, https://www.wsj.com/articles/jetblue-to-take-customer-service-tech-to-the-skies-11569968137?mod=searchresults&page=1&pos=7.
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PR Newswire, “U.S. Bank, BBVA, among winners of 2019 Bank Customer Experience Awards,” Markets, Business Insider, September 25, 2019, https://markets.businessinsider.com/news/stocks/u-s-bank-bbva-among-winners-of-2019-bank-customer-experience-awards-1028553533#.