Just How Important Are Customer Experiences?

April 15, 2015
By: TMCnet Special Guest
Stephane Bourque, president & CEO, Incognito Software Systems

In 2015, mature markets like North America and Western Europe saw Internet penetration exceed 80 percent (with the United States nearing 90 percent). This high level of adoption has shifted the focus of service providers across these regions to heavily invest in customer experience management platforms instead of attracting new customers with advertisements.

This shift isn’t just specific to data services. Help Scout recently compiled data from a variety of sources that found there are a number of reasons that businesses everywhere are implementing more robust customer management solutions.

On average:

The numbers are astounding. It’s clear that customer experience is a key driver to keep revenue streams flowing. But what about increasing the bottom line?

A great customer experience not only reduces churn to keep revenue streams flowing – it actually makes increasing revenue much easier.

Image via Shutterstock

Unfortunately, statistics show us that most businesses fall short of customer expectations. In general, 75 percent of customers believe it takes too long to reach a live agent, while 67 percent of customers hang up their phones out of frustration they could not talk to a real person. These numbers are crucial to any organization that wants to ensure consumer happiness, because on average it takes 12 positive experiences to make up for one unresolved negative experience.

So, as an operator, what can you do? How can you improve customer experiences to reduce churn and increase revenue?

5 Easy Ways to Improve Customer Experiences

In the 2014 American Consumer Satisfaction Index report, ISPs scored lower than all other related industries. Don’t let this be an indication of your business. Here are 5 easy ways to improve customer experiences:

By improving your ability to manage customer experiences, you’ll not only see reduced churn, but also a higher ARPU and increased incoming revenue.