There’s no mystery about how to achieve market leadership in any industry. The top businesses simply become better than their competitors at shaping the customer experience. A Gartner analyst projects that companies will compete primarily on customer experience by the end of next year. Their research revealed that the top demand on CMOs, far outpacing any other demand, is to lead their enterprises in developing excellence in customer interactions from end to end.
Online businesses in particular must master online user experience because they don’t have any other customer touch points. These businesses must leverage all the latest technologies, like the cloud, big data and performance analytics, to gain firm control over their business results.
Customer experience is what differentiates businesses in today’s more competitive global marketplace. They can no longer rely on excellence in product quality or unique innovations. The competition is able to leapfrog value propositions with better features and more diverse functions with shorter development cycles. Competing on price is a one-way path to zero margins.
The bright spot in this gloomy market assessment is the unlimited upside in customer experience. Harris Interactive determined that 86 percent of consumers would be happy to pay a premium of at least 25 percent to have a better customer experience.
The primary challenge businesses face is how to determine what customers define as excellence in customer experience. It is easier to discover what they consider a bad experience because customers tend to be very vocal on every social network when something goes wrong. That’s why paying attention to the right testing and performance metrics has become more important than ever.
The performance metrics that matter most in determining positive business outcomes from the customer experience are how well customers are engaged, how many visitors convert to customers and the relationship between specific customer segments and associated revenues. Businesses need to understand results of load testing and performance testing from the customer’s point of view. To be valuable, reporting must be easily reconfigurable, customized to individual business goals and able to deliver results in real time.
Fortunately, businesses now have new tools for taking charge of a brand’s value and online reputation with the assistance of advanced technology. SOASTA mPulse represents one of the best ways to gain insight into user behavior on mobile and web apps. This advanced real-user monitoring (RUM) analytical tool offers 100 percent visibility into users’ interactions in real-time, which puts the business back in control of customer experience and business results.
Customer experience is now mission critical for businesses of all sizes. Actionable intelligence is the backbone of that elemental shift in what it takes to succeed in this new mobile world.
About the Author
Amy is the Marketing Manager at SOASTA, where she specializes in content marketing, growth-hacking, wordsmithing, and go to market strategies. She is fascinated with the correlation between web performance, neuroscience, and how this translates into success for modern digital businesses.