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Importance of Customer Experience

Client experience is the most exciting opportunity for future businesses and the reason is simple; the companies that focus on customer experience reduce blend and increase revenues – leading to higher profits! There has been a lot of thrill with Customer Experience emerging as the key differentiator and driver for growth and sustenance in consumer industry. But, what exactly is customer experience and what makes for a great customer experience? Gartner defines customer experience as “the customer’s perceptions and related feelings caused by the one-off and cumulative effect of interactions with a supplier’s employees, systems, channels or products.”

Forrester Research defines customer experience as: “How customers perceive their interactions with your company.”Clearly the two basic elements of a customer experience definition are perception and interaction.

Competing brands are offering product parity on the quality and pricing front, now the key differentiator for customers is excellent customer experience that they consistently get from a brand. The crucial question that brands evaluate is – why customer experience matters? Switching brands has become really easy for the customers in case they are not delighted, making customer experience way more crucial for the brands strategically. Bad customer experience can cost a brand and will ultimately impacts its bottom line.

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