Why Your Customer Experience (CX) is Losing Money in 2023
Customer experience can compel nearly 75% of your shoppers to complete checkout.
Even better, over 90% are more likely to return after a positive customer service experience.
And since customer acquisition can cost you up to 500% more than retaining your clients…
…it’s easy to see that your CX is your brand.?
Anyone with a blog knows the secrets to profitability, but how do you avoid wasting your money? ?? ?? ??
In this article, we’ll reveal:
6 Proven Ways to Lose Money on Your CX in 2023
Analysts are debating the merits of Social Commerce again, but we’re not moved. Like a siren’s call, retailers want to sell from social media platforms, but those platforms own the data.
Essentially, this means that your sales take place in a vacuum, so you can’t be certain of repeat conversions. Worse still, nearly 75% of consumers prefer to complete checkout on your website; so would a “Buy Now” button for social media even be a worthwhile investment?
But Social Commerce isn’t the only way to burn your money this year. Here are 6 easy ways to ruin your customer experience (CX) in 2023:
Seriously, everyone is going Omnichannel, why aren’t you?
Yep, everyone — even brick-and-mortar retailers are claiming digital territory. Samsung created an in-store, metaverse experience for their New York location last year.?
Alternatively, SaaS and e-commerce brands are moving into the physical space. The HBO Max Orbit was an immersive experience in which people interacted with displays at AT&T stores to unlock HBO Max content.
The future is “phygital.”
In-Store Omnichannel continues to grow in popularity as your marketers work to turn every touchpoint into a buying channel. In fact, omnichannel personalization may boost revenue and retention by up to 15%!
The future of retail involves uninterrupted experiences that span from physical locations to their metaverse equivalents and back to your original website.
However, to take your e-commerce experience into 3 dimensions, your system must be agile. That is, you must be capable of adapting rapidly, and with minimal impact on your CX.
Headless commerce maximizes your agility in the market.
Your competitors are losing their heads — and if you aren’t, you’re just postponing the inevitable.
Experts predict that retailers will increasingly adopt headless commerce in the coming years.?
Why? Headless architecture empowers you to scale and adapt as your customers demand ever more convenience.
Integrate the latest custom functions without jeopardizing business continuity, and collect the data you need to provide a richer customer experience.
Digital Marketing is to become a bakery without cookies.
Consumers are getting stingy with their cookies — so proactive retailers must find better strategies for reaching new customers.
You need first-party data, and consent from your audience to market to them. A reliable omnichannel commerce strategy is a solid way to acquire a broad range of first-party data.
Consumer consent can be attained when you request a prospect’s email address, such as through a lead generation offer. You need clever marketing strategies to ensure you can deliver a personalized, uninterrupted customer experience.
Niche Marketplaces aren’t just for dropshippers.
Independent dropshipping retailers demonstrate the value of curating a bespoke market for an otherwise underserved niche. That’s a strong way of establishing a brand identity and trust in your taste.
Experts predict increasing “niche-ification” — and it makes sense, right? You want to form a strong relationship with highly qualified prospect-clients to keep them in your sales funnel indefinitely, no??
Meanwhile, consumers want a personalized, omnipresent, and uninterrupted journey. And? Google wants the top spots on their results pages to go to those with authority and expertise.
“You get a niche, you get a niche, you get a niche — everybody gets a niche!”
From sustainable practices to a subscription model, there are infinite ways to express your brand’s value. In fact, if we put everything together, we can identify a great option: security.?
Shopify Plus is just one e-commerce platform that enables you to go headless and remain compliant with the EU’s General Data Protection Regulation (GDPR).?
As consumers become increasingly cautious with their data, your niche could be to provide a secure space for personalized browsing, reading, engaging, and shopping.
Avoid “choice overload” with personalized experiences.
Too much of anything is a bad thing. Think your customers land on your infinite category page and salivate? ??
??
领英推荐
More likely, they leave immediately to look for someone to compare a select number of options. They might return, but you’d better hope the buying guide they find doesn’t have its own recommendations (and links).
Shopping is fun, but choice overload is an easy way to ruin your CX. Market the right products to the right people with lead-generation assets, landing pages, and personalized experiences.
Your customers are capable of serving themselves.
Nearly 80% of consumers say they feel more positive about a brand that provides self-service options. This means that your customers don’t want to call your service agents for every question they have.?
Instead, they want you to empower them to resolve their problems on their own. In fact, 92% of your customers would consult a knowledge database if you make one available to them.?
However, it can be costly and complicated to adapt your internal resources to a public-facing knowledge system. One alternative is artificial intelligence; an AI helpdesk could reduce customer service costs by up to 30%.
How to Boost the Profitability of Your CX in 3 Easy Steps
To outperform your competitors in 2023, you must take steps to maximize the effectiveness of your customer experience.
Your customers demand a personalized, continuous experience at every potential touchpoint.
We’ve thrown several numbers at you, but fortunately, you only need three. Here’s how you can increase the profitability of your customer experience in 3 simple steps:
Map your customer journey and identify roadblocks to conversion.
We’ve discussed easy ways to map your customer journey before.?
And in the next Optimum7 Letter, we’ll discuss conversion rate optimization in more detail.
For now, it should be sufficient to acknowledge that you must be aware of pain points before you can resolve them.
Develop custom e-commerce solutions to resolve pain points.
Whether it’s at the Interest Stage or for conversion, buyers will seek out your e-commerce site. You can improve your online experience including platform migration, headless architecture, and personalized e-commerce solutions.
These empower you to serve every demand, from an organized search filter to a streamlined checkout process.?
Once you’ve optimized your e-commerce store, you must attract your ideal consumer to the page. For that, we find that it’s best to go with a BBB: your big, bad, bold offer.
Ideate big, bold, clever strategies for engaging with your customers.
How do you attract your ideal customer? Only you and your marketing team can answer that.
One bold tactic is gamification. In fact, in the list above, we could have included overlooking it?as an e-commerce misstep to avoid when updating your CX.
In the linked Forbes article, it’s noted that:
70% of app purchases are for mobile games
33% of U.S. mobile gamers are 25-34
34% of U.S. mobile gamers are high-income
You can:
Your Setting? The omnichannel experience you’ve developed, of course.
Collaborate with bold, confident, experienced Digital Marketers.
Your consumers expect you to resolve their pain points — that’s your expertise.
So who’s meant to resolve your pain points? You can’t be expected to deliver bold, new marketing strategies and serve your customers.
You need a digital marketing and e-commerce development team with experience & vision.
Maximize the Value of Your Customer Experience with Optimum7
You’ll lose money in 2023 if your customer experience doesn’t feel personal, continuous, and uninterrupted. Most of all, it must feel valuable, which often requires knowledgeable professionals.
For a profitable CX, speak with our marketing and development experts today!
And subscribe to The Optimum7 Letter for more insider insights into the dynamic world of e-commerce development and marketing.