Intuitively, most people recognize the value of a great customer experience. Brands that deliver them are the ones we want to interact with as customers — those we become loyal to, and that we recommend to our friends and family.
But as executives leading businesses, the value of delivering such an experience is often a lot less clear, because it can be hard to quantify.
According to the Harvard Business Review
, not only it is possible to quantify the impact of customer experience, but the effects are also huge
They found customers who had the best past experiences spend 140% more
compared to those who had the poorest past experience.
Subscription-based companies such as Boundless Digital are interested in how long their customers remain loyal.
The HBR report found out that a member who rates as having the poorest experience has only a 43% chance of being a member a year later.
Compare this to a member who gives one of the top two experience scores — they would have a 74% chance of remaining a member for at least another year.
According to the research, when a company makes your life a little easier you are as much as 12 times as likely to continue to do business with them. That is the reason why at Boundless Digital we’ve always been focused on improving the user experience of our SaaS platform. And we do that by listening to our customers and investing in R&D and building a top-level company team.