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Three Reasons Why Customer Experience isn’t Just About Existing Customers
By Hyther Nizam, President MEA, Zoho Corporation
In today’s hyperconnected world, a bad shopping experience can drive a potential consumer to a competitor. While product and pricing used to be sufficient to separate a business from its competitors, this is no longer the case. Today’s consumers place a premium on speed, convenience, and professional and friendly service.
According to a 2018 PwC survey, consumers are willing to pay a premium for an amazing customer experience, and disgruntled customers are much more inclined to transfer their business elsewhere than to seek to remedy a terrible experience.
When people talk about customer experience, they frequently refer to existing customers. After all, it is substantially easier to market new products and services to existing clients than it is to acquire new ones. This is not to say that businesses should focus exclusively on existing customers. It is important for business growth to gain new clients, and customer experience (CX) plays a critical part in this process.
Optimise experiences for repeat customers
Remember that CX encompasses the totality of a customer’s journey (or journeys) with a brand or business. That means organisations have to understand what a customer experiences, right from the moment they feel the need to purchase and notice available options, to the subsequent research they do, zero in on your product/service, and make their final buy. Beyond this, organisations need equally to ensure that each part of the journey is optimised to draw in new customers and retain their loyalty post-purchase with a delightful after-sales experience that turns them into repeat customers.
A potential customer enters the experience economy the moment he/she feels a psychological need for a product/service and decides to act on it. For organisations, this is the first organic CX touch-point. In today’s digital world, this touch-point can take the form of online advertising, appealing SEO-optimised websites, video testimonials, live chat, and sign-up forms. It’s clear that a good CX begins with impact-driven content that helps prospects find their way to what you have to offer.
It’s additionally important to remember that, while we might once have thought of the customer journey as linear, it’s increasingly obvious that this is not the case. A potential customer may go on tangents, get distracted and take breaks, and change the channels they’re using for research or to sign up as a customer. Organisations have to be able to cater to this non-linear approach while providing a consistently good experience if they’re going to keep attracting new customers.
Consider the generational shift in CX plans
Organisations also need to be cognizant of the fact that there’s a generational shift when it comes to customer experience. A recent survey shows, for example, that 51% of the Gen Z respondents ranked social media presence as the second highest factor, after “providing superior product/service quality”, for brands to maintain relevance; on the other hand, only 13% of Baby Boomers listed social media presence; moreover, 78% of Gen Z buyers said they research or look at customer reviews most of the time before purchasing from a new brand. Gen Zs are also more likely to identify “not being able to find the information I need online” as one of the most egregious examples of bad customer experience. Younger customers are additionally more likely to use community forums, in-app messaging, and webchat.
It’s pivotal, therefore, for organisations to understand this generational shift and bake it into their CX strategies. This helps design a well-rounded approach that’s considerate of traditional practices but at the same time forward-looking, which ensures that organisations don’t get left behind. To achieve this balance, organisations should look to move towards a true omnichannel approach, which provides seamless, high-quality experiences within, between, and across channels.
Build exceptional digital experiences
Research from Gartner shows that today, nearly half of customers can’t tell the difference between most brands’ digital experiences (DX), and as a result, 58% of customers also believe that DX does not impact what they end up buying. However, according to Gartner, a course-changing DX can positively impact brand preference by 37% and behavioural advocacy by 54%.
Customers expect brands to meet them where they are and creating digital experiences enables businesses to engage with potential new customers in meaningful ways. Digital experiences can help companies stay ahead of their competition and thrive in an ever-changing environment by providing 24/7 customer service and support and tailored offerings and interactions.
Broadcasting
Copyright Commission Warns School Proprietors Against Pirated Books
AS the Nigerian Copyright Commission (NCC) intensifies its public awareness campaign, school proprietors in the FCT have been advised to exercise due diligence by procuring books from legitimate sources to curb copyright infringement and help sanitise the book value chain.
This was disclosed by Mr. Emeka Ogbonna, the Director Operations, NCC, in his address at the General Meeting of National Association of Proprietors of Private Schools (NAPPS), FCT held at Veritas University, Abuja on 9th October, 2024.
Speaking to the participants, Mr. Ogbonna acknowledged the contributions of the proprietors to the educational development of the nation, emphasising the need for wholesome practices to protect the book ecosystem. ‘’If you must sell or distribute books, ensure you get them from the right sources”, he cautioned.
He said the warning was imperative in view of complaints from right owners and publishers about schools selling pirated books. He stated that the NCC is not opposed to schools selling books, but maintained that due diligence must be exercised by ensuring that all purchased books are properly documented with authentic receipts.
Sensitising the school proprietors further on the tenets of the new Copyright Act 2022, the Director said it is a criminal offence to sell, distribute or be in possession, other than for private or domestic use, works that are pirated. Harping on the stiffer punishments prescribed for offenders by the new Act, he said schools selling or distributing books will be treated as booksellers and subject to the same standard of care.
The NAPPS FCT President, Mrs. Ruth Agboola, commended the NCC and other government agencies in attendance and lauded the Management of Veritas University for hosting the event.
The meeting was also attended by the Vice-Chancellor, Veritas University, Abuja, Rev. Fr. (Prof) Hyacinth E. Ichoku and other officials of the University.
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TETFund Suspends Foreign Scholarships Due to Rising Costs and Abscondment
Tertiary Education Trust Fund (TETFund) has announced the suspension of the foreign component of its TETFund Scholarship for Academic Staff (TSAS) Intervention, effective January 1, 2025.
This decision, outlined in a letter dated November 25, 2024, and signed by TETFund’s Executive Secretary, Arc. Sonny Echono, cites the escalating cost of overseas training and an increasing number of scholars absconding as reasons for the suspension. The letter was addressed to heads of beneficiary institutions, including vice chancellors, rectors, and provosts.
“In response to the current excessive cost of training in foreign institutions, coupled with the high rate of abscondment of scholars, the Board of Trustees of the Fund has approved the suspension of the foreign component of the TSAS Intervention,” the letter stated.
TETFund has directed beneficiary institutions to prioritize local training within Nigerian universities, polytechnics, and colleges of education. This shift, according to Echono, is aimed at reducing pressure on foreign exchange, enhancing local capacity, and significantly increasing the number of beneficiaries.
“It is expected that this will conserve and reduce pressure on the foreign exchange rate, boost investment and local capacity in our institutions while significantly increasing the number of beneficiaries of the intervention,” Echono wrote.
However, scholars already enrolled in foreign institutions under the TSAS programme will continue to receive sponsorship until they complete their studies, ensuring a smooth transition for ongoing commitments.
Broadcasting
Copyright Commission Pledges Support to Creatives on Contracts
Dr. John O. Asein, the Director-General, Nigerian Copyright Commission (NCC), has restated the Commission’s commitment to supporting all sectors of the creative industry to reward creatives and boost the nation’s economy.
The DG NCC stated this while receiving 2024 finalists of the National IP Creative Essay Competition, organized by the World Intellectual Property Organisation (WIPO), Nigeria Office who paid a study visit to the Commission recently.
Pointing to the issue of contracts as one area that is being looked into, he emphasized that contracts should be fair and transparent with terms that are not unreasonable, enslaving or unduly onerous.
While acknowledging the long and tortuous process of statutory reform, Dr. Asein assured right owners and other stakeholders in the creative industry that the commission has commenced the process of reviewing the recently passed Copyright Act with a view to identifying areas of improvement.
In the meantime, he announced that the Commission will be putting in place administrative mechanisms to help right owners, through the provision of model contractual clauses, better negotiate and conclude contractual terms.
The Director-General also informed the visitors that the Commission has Alternative Dispute Resolution facilities to help right owners settle copyright disputes.
Congratulating the essay finalists, Dr. Asein used the opportunity to announce their induction as Copyright Ambassadors and urged them to be good representatives of the Commission and the copyright industry.
Dr. Tobi Moody, Director, WIPO Nigeria Office and leader of the delegation, informed the Commission that a total of 256 students from 68 tertiary institutions in 27 States entered for the competition, with a winner and 19 finalists emerging.
Dr. Moody disclosed that the Competition is in line with WIPO’s policy of encouraging students to research and be actively involved in Intellectual Property (IP) matters. He assured that WIPO will support the finalists with capacity building prizes and opportunities to further strengthen their engagement in the field of IP.
The theme for the 2024 essay competition is “IP and Sustainable Agriculture: Combating Food Insecurity in Nigeria”.
Mr. Ikenna Mba, a year-four law student of the University of Nigeria, Nsukka emerged the overall winner of the competition while Mr. Chinonso Izundu, a year-five law student of the University of Port Harcourt and Mr. Adekunle Olajide, a year-four law student of University of Ilorin, were first and second runners-up respectively.
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