Episode #99 of Power to the Small Business Podcast
The customer experience you deliver is the number one factor of customer loyalty. It is also the the number one reason why you do or do not earn word-of-mouth conversations. The argument can be made that this component of your marketing plan may be the most important to your profitability. Is customer experience delivery in your marketing plan?
In this episode of Power to the Small Business, I introduce you to the Customer Experience Formula and show you how it determines whether or not customers will be loyal to you and whether or not they will recommend you to others. You will also learn the three steps necessary to take your experience from commodity to Wow! I’ll also provide you with two tools to increase the Wow! factor in your experience delivery.
Topic: The Customer Experience Formula: Customer Loyalty and Word of Mouth
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Email subscribers and feed readers click here to listen: The Customer Experience Formula
Customer Experience Show Notes & Tools
The Customer Experience Formula:
I – E = W!
CE Ingredients – Customer Expectations = Wow!
Take everything you deliver in your experience, subtract what customer expect you to deliver, and what’s left is your Wow! factor.
Here are the stats:
Below Average Customer Experiences
- 10% likelihood of customer loyalty
- 7% chance of word-of-mouth recommendations
Ordinary, Commodity Customer Experiences
- 42% likelihood of customer loyalty
- 30% chance of word-of-mouth recommendations
Extraordinary, Wow! Customer Experiences
- 86% likelihood of customer loyalty
- 97% chance of word-of-mouth recommendations
** DiJulius Group
Related Link: Download the Customer Expectations Checklist
Related Link: The Brand Experience Frame Makes All the Difference
Related Link: Free Webinar – How do Use the Customer Experience Map
Related Link: How to Create a Marketing Plan to Grow Your Business.
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