Aberdeen Group research highlighted opportunities in customer experience management

Every day, your company is in contact with customers in one way or another. It might be in person, they might follow you on social media, or they might simply be using a product they purchased from you. All these touchpoints contribute to the customer's perception of your company. Managing the customer experience means understanding all your customers' expectations regarding these touchpoints.

Most companies, and you are likely among them, are already gathering customer feedback today. You might be checking customer satisfaction through market research, sending out questionnaires, observing customers during their purchase, talking to customers, etc. The best approach is to continuously gather your customers' feedback and consistently measure their satisfaction with your company.

Benefits of Identifying and Considering the Voice of the Customer

Aberdeen Group research has shown how important customer experience management truly is. For a company to succeed, it's not enough to simply gather customer feedback. If you don't manage the feedback correctly (or at all), all your efforts to gather it are in vain. Companies that do not yet manage the customer experience will surely be convinced by the research results. Properly managing the customer experience significantly increases customer satisfaction and improves long-term company profitability. Aberdeen Group states that the benefits for companies that systematically manage the customer experience are far from negligible, as they record:

• 10.9% annual revenue growth,
• higher customer retention rates,
• significantly greater employee engagement, and
• lower customer contact costs.

A good feedback management system is the best way to monitor customer satisfaction and understand their expectations. A good system means the company systematically listens to the voice of its customers and also considers the information it receives through it. Many companies are already aware of this and use the voice of the customer to improve their products or services. This allows them to consistently exceed customer expectations. Ultimately, focusing on customer satisfaction improves the product assortment and increases long-term company profit.