Customer Experience (CX) is the interactions and experiences your customer has with your business throughout the customer journey.
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CX is an integral part of Customer Relationship Management (CRM). It is important because a customer with a positive experience with a business is likelier to become repeat and loyal customers.
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Oracle found that 74% of Senior Executives believe that customer experience impacts the willingness of a customer to be a loyal advocate:
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74% - Customer experience impacts willingness to be loyal
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60% - Customers have more power today than three years ago
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59% - Customers switch brands due to a poor experience
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40% - Customers are willing to pay for a better experience
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If you treat your customers poorly or ignore their customer service requests, they are more likely to stop doing business with you.
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Companies that deliver a superior customer experience outperform competitors.