What’s all the fuss about EXPERIENCE?
Experts maintain that it is difficult to measure the quality of Experience. It largely remains within the head of the experience holder. One good measure of the quality of experience is the response of the person. And in an economic paradigm, this 'experience+response' becomes the basis of strategy or decision-making.
This HUMAN EXPERIENCE is a big deal.
In 2020, laying the foundation of a marketing plan is almost entirely about experience and influence. That's why business models are investing a scrumptious amount of energy in enriching customer experience (CX) and enhance the experience of employees (EX). Great efforts are made to improve the overall product experience (PX) as well.
"Loyal customers are 5X more likely to purchase again and 4X more likely to refer a friend to the company."
So now, we have a package to alter the experience of people who participate in the cycle of commerce. In the end, the brand experience (BX) gets built - bit by bit.
It is important to keep in mind that experience creation is not a unidimensional approach. Different types of audiences get affected at different levels.
Many things happen based on people’s experience:
- Influence - A positive experience holds power to affect people or events, especially power based on prestige. A good experience is directly correlated with influence. It may mean the increase or decrease in confidence or trust.
- Encouragement - Positive experience always motivates. It boosts the spirit of an employee, making him/her go that extra mile. It encourages a customer to shrug of the hesitation to try a certain product/service.
- Participation - People’s willingness to participate can entirely depend on their personal experience. It is effective in a workplace environment where employees have low motivation to create values.
- Trust - Good experience generates trust in people. It means they have confidence or faith in something based on their cumulative experience.
- Loyalty - Loyal customers will keep coming back for your product/service, hoping for the same good experience that got them there.
- Word-of-mouth - Good CX will easily become word-of-mouth that organically promotes products and/or services between friends and network of people.
- Reference - The quality of people’s experience will influence them to refer the same to others. This special recommendation is almost sure to generate new business opportunities.
It is easy to see how the experience at different levels affects decision-making in a customer’s journey. Businesses that invest energy in improving the CX does better than their competition.
To have a reliable people experience management platform in your arsenal is quite helpful. Organizations across the world are keen to tap the potential of converting experience into trust and loyalty. Zinbucks - the social engagement tool is precisely developed to address this need for institutes and businesses. That is, to give them a tool to alter experience, tap sentiments, and use that information to increase the well-being of concerned people.