A lot of pressure comes with starting a business. Startups are always on the lookout for ways to maintain cash flow. Some even seek third-party investment.
Then, there’s the challenge of developing a unique product. After this, there’s being able to mass-produce and deliver them to retailers on time. And lest we forget, marketing strategies also need to be in place to generate sales.
Any business owner can overlook customer experience (CX). This is especially when confronted with all these potential stumbling blocks. But, failing to find ways to support the people who buy your products or services can be detrimental.
Why Focus on Customer Service and Experience
PricewaterhouseCoopers (PwC) collects and collates insights focused on customer service and experience.
In its 2018 Future of Customer Experience Survey, thirty-two percent of respondents won’t give second chances. Customers said they’ll leave a business they love after one bad experience.
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The same survey also illustrated the gains companies with good CX can enjoy. When customers feel appreciated, brands get a price bump of up to 16 percent on products and services. Plus, brands also gain more loyal customers.
All these data show how high the stakes are for startups. They need to offer a great customer experience from the outset.
But there’s a catch. Crafting top-notch CX can take years.
Customer experience should be set up to reflect the company’s brand and culture. Companies will go through plenty of trial and error before reaching this goal.
Only after navigating the learning can they expect to achieve the desired results.
So how can startups succeed at customer experience without years of experience? Here are three strategies worth exploring if you are a startup owner, too.
1. Improve your refund process.
Refunds are a part of doing business. Accessible refunds will go down well with customers. The last thing a budding new company wants is to compound the issue and lose sales.
So, consider offering a no-questions-asked refund policy. This type of refund policy typically lasts between fourteen and ninety days.
The specifics of a business refund policy must be clear on the product page.
Soliciting feedback on why customers want a refund is also valuable. Feedback enables startups to improve products and services moving forward.
2. Add a loyalty program.
A loyalty program appeals to shoppers, especially those looking for a great deal. People will spend more money when a loyalty system is in place to provide extra rewards.
Loyalty programs increase customer retention. It also improves the buying experience for them at the same time.
For instance, a startup could use specialized software to implement its rewards program. It can have a feature that differentiates the buyers of premium products from bargain hunters.
The company saves money by focusing on repeat customers. They can know the ones buying the pricier merchandise. Also, they’d see those that value the brand and offer sincere product feedback.
Satisfying this customer segment is essential. If they’re happy, they will be more than willing to spread the word to other potential customers.
You need to fine-tune your loyalty program for this strategy to work. It needs to be the perfect match for your audience and brand.
3. Track your customer’s journey.
As a startup owner, you need to understand the entry points of the customer journey. Doing so allows you to capture the attention of your audience better.
But, you need to conduct in-depth data tracking. This is necessary to assess what’s going on at every stage.
The data allows you to check different parts of the customer journey. It could pinpoint the ones with good conversion rates. It also lets you spot non-performing or slow converting parts that need improvement.
Consider a customer entering the sales funnel at the casual research stage. This person will generally need more information before buying. But, visitors who know about your brand might be more interested in seeing product pages.
Three Useful Tips
A CX strategy won’t be of much use if your startup is not prepared internally to put it in place. With that, here are three tips to follow so you and your team are on the same page while objectives are being set and met.
1. Each team member should understand the importance of the customer experience.
Your customer service team is vital in delivering a great customer experience. Be explicit on what you expect from each member.
2. Set targets and meet them.
Delivering excellent customer service and experience is only possible by setting goals. Ultimately, it’s a case of managing customer expectations.
As a startup, you need to know what your customers are looking for. You need to come up with CX targets based on that information.
3. Recognize that customer experience isn’t only about the right people, technology, or processes.
A company that offers a unique CX to buyers has the right mix of people, technology, and processes. If you wish your startup to move quickly, you must build an experienced team and use the right tools.
Implement One at a Time
It’s possible to mix and match strategies to create a memorable customer experience. Yet, it’s still best to focus on one strategy at a time.
A startup with limited resources wouldn’t want to spread itself too thin. But it also can’t risk lowering quality.
So, it’s best to choose from one of the strategies above. Then, tailor it to your target audience. This method should increase your chances of getting positive results.
Implementing one strategy at a time will also increase customer retention. Repeat buyers will turn into loyal patrons. They can help a business grow through word-of-mouth.
Finally, the right customer experience will make a product or a service more appealing to first-time customers. New buyers are more inclined to shop again at a cool-looking store with helpful staff.