How Customer Experience Expectations are impacting your business
Study after study supports the fact that consumers will pay more for a better customer experience and are 4x more likely to jump to the competition when a problem is service-related vs product or price-related – or if they feel they weren’t treated well. It is this mindset that is fueling this generation’s business buyer, where customer experience surpasses price and quality when a buying decision needs to be made.
Feeling unappreciated is the #1 reason customers switch away from products and services.
The changes reflected in today’s consumer buying habits has impacted the way businesses research and purchase equipment, technology and print. One of the major factors driving growth in customer communications is the increasing need to keep them engaged over various channels and various devices.
As a group, Millennials are willing to spend the most (21% additional!) for great customer care.
Older millennials, now approaching 40, remember a pre-internet world. They grew up with information at their fingertips. Older Gen Z’s, who are in their early 20s and hitting the workforce, never knew life without the internet. With an innate ability to tune out marketing completely, this generation’s business buyers make their decisions start their research online and in groups, where they collaborate and look for a solution that helps them. They rarely deal with a salesperson until the later phases of their buying journey.
Websites and collateral that feature equipment, speeds and feeds – and boasts world class printing, superior results through expert craftsmanship, state-of-the-art network of printing facilities, superior quality all backed by a 100% quality guarantee – will not capture the attention of your next potential customer.
Contrary to popular belief, Millennials read more than older generations do—and more than the last generation did at the same age. A survey of college students found that 92% prefer reading print material to digital material. 78% of Millennial respondents said they enjoy the smell and feel of books and paper. 58% said the same of magazines.
Physical, touchable, smellable, colourful print complements immersive and interactive customer journeys with fun, one-of-a-kind experiences. Driven by the need to keep customers engaged with targeted and personalized communication across all available digital, mobile and physical channels, print is-emerging as a premium, powerful channel.
By engaging the sense of touch, you create a memorable and long-lasting customer experience that sells.
According to Forbes, Generation Z and millennials combined are the biggest consumer group in history – they’ll soon account for $4 billion in discretionary spending. Highly personalized and customized direct mail engages these buyers with a memorable brand experience. Adding textures and finishes like embossing, debossing, raised ink, foil or glitter teases people to do more than just see the print. It entices them to experience a truly unique sensory experience that screams out: “Touch me!”
Integrated direct mail and digital campaigns boost attention spans – people spend 39% more time engaging in direct mail vs digital campaigns alone, cites Canada Post. They studied people’s brainwaves to learn how physical print-mail increased conversions when combined with digital e-mail.
More than 6 out of 10 U.S. consumers say that their go-to channel for simple inquiries is a digital self-serve tool (such as a website, mobile app, voice response system or online chat).
Providers of high-volume and highly regulated communications can vouch for that. After all, they are obligated by law to provide paper statements – but because that statement has now become another link in the omni-channel customer experience chain, it’s design and content are now valuable business drivers. Advances in automation and intelligent learning have led to significant changes in how customers, and customer service reps, access confidential account information – and what that information looks like.
66% of adults feel that valuing their time is the most important thing a company can do to provide a good online customer experience.
From paying bills to ordering business cards, the print and customer communications industry helps make it possible to perform transactions on any device – most importantly mobile – while recognizing the important role that paper plays in your customer’s mindset.
“The goal of CX is to meet and exceed customer expectations, but while 48 percent say their CX efforts exceed management’s expectations, just 22 percent of customer experience leaders report their CX efforts exceed customers’ expectations.” – Gartner
After one negative experience, 51% of customers will never do business with that company again.
American Express reports that Gen Z is more than twice as likely to drop a brand for poor features or responsiveness on social media. Print and business buyers are looking for solutions that boost their rand, generate revenue and align with their cause. Consider how customer experience expectations are impacting your business today – and how you can keep buyers engaged, appreciated and valued.
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Portions of this article were published with permission in Graphic Arts Magazine.
Image credit: Pixabay
